$3.1 Billion Investment Could Benefit Solar Backup Systems
The Department of Energy has announced $3.1 billion in funding to make more batteries and related components in America. Made possible through bipartisan infrastructure law, this funding will ensure that America can meet the demands for batteries in electric vehicles and specialist equipment like solar backup systems.
Battery systems are critical to making the most of renewable energy. This funding should help to revitalize an industry that has fallen behind international competitors in manufacturing capacity.
Why are Solar Backup Batteries So Important?
You can get a basic Long Island solar installation and you’ll already start saving money from day one. The problem is that panels alone don’t maximize the efficiency of renewable energy technologies.
The reason is simple. The sun isn’t always shining on your home to power your solar panels. In the evening, you’ll take electricity from the grid. The cost will be offset by programs like Net Metering. But ultimately, you’ll still be relying on some non-renewable energy even when you have solar panels.
Solar backup batteries can change this. You’ll store excess electricity during the day so that it can be deployed in the evenings. In this way, your home will be more efficient, and your utility bills will be even lower. Depending on how a solar backup system is configured, you could even run your home just from the battery when the grid goes down.
Whether a solar battery is used for emergencies or to balance costs by deploying during peak rate times, it will improve efficiency and improve savings.
How Does Government Investment Benefit Your Long Island Solar Installation?
This latest announcement of battery funding won’t have a direct influence on your Long Island solar installation today. But the benefits are likely to trickle down over time.
- Increasing American battery production will safeguard supply chains and ensure price consistency.
- Funding can drive innovation, leading to more affordable and more advanced battery systems.
- Funding for emerging technologies could lead to higher battery storage capacity.
- A strengthened domestic solar industry means better competition between suppliers and technologies, which typically benefits the consumer with lower prices.
This funding could mean that in the future when you need to replace a battery wall or even add one to your existing solar system, the technology will be more advanced and more readily available.
Even if the news won’t directly benefit you today, it’s a step in the right direction for the industry. And, it’s important to recognize that past funding and investment are the reason that you can get such an affordable Long Island solar installation today.
The Government is Helping with NY Solar Tax Credits
One example of how past funding can benefit you is with NY Solar Tax Credits. New York State helps through NYSERDA, where a portion of your bill is covered by the state. There’s also the New York Solar Property Tax Abatement program where you can claim 20% of the cost of your system in 5% portions over four years.
The federal government also offers assistance. You can claim up to 26% of the cost of your system on your federal income tax.
Government funding isn’t always directly into the industry, sometimes it comes in the form of benefits like NY solar tax credits. Ultimately, there are many initiatives underway to ensure that your Long Island solar installation is more affordable.
Get a Quote for Your Solar Installation
If you’re thinking about solar, now is the time to learn more. You can get a free estimate for solar panels and solar backup. Customers of Long Island Power Solutions receive a detailed cost/benefit analysis. You’ll get all the information you need to make an informed decision.
Long Island Power Solutions is a leading local installer. We’ve helped more than 5,000 homes and businesses get access to clean and reliable solar energy. Talk to the experts in solar panels and solar backup. Our team is available to assist today.