Homeowner Stunned After Receiving £14,000 Discount on Solar Panel Installation
A Virginia homeowner has spoken out about the significant savings he made on his solar panel installation, thanks to a federal tax credit. Bram Lillard, who recently had an 18.7 kilowatt roof-mounted solar array installed, revealed that he was able to save around £14,000 on the installation through the federal solar Investment Tax Credit (ITC). The news was reported by Yahoo Lifestyle, which shared Lillard’s story via Solar United Neighbors.
According to Yahoo Lifestyle, Lillard was inspired to switch to solar energy after seeing how much his neighbor was able to save. His new solar array, which cost around £30,000, is larger than the average homeowner’s system, but Lillard explained that his family consumes a lot of energy and plans to electrify other aspects of their living, including heating, cooling, and electric vehicle charging. As Yahoo Lifestyle reported, Lillard told Solar United Neighbors, "For just over £30,000, I got an incredible array that more than meets my needs. I would not have gone solar without the tax credit."
The ITC, which falls under the Inflation Reduction Act, offers incentives in the form of tax credits up to 30% of a solar project cost. This aims to encourage adoption of clean, renewable energy projects in homes across the country — exactly what Lillard did. As Yahoo Lifestyle noted, EnergySage has tools to help with making sure you can navigate those credits with any project, so it’s a smart idea to have help like that to avoid leaving any money on the table.
Despite these benefits, President Donald Trump has repeatedly threatened to repeal the IRA. And while doing so would require an act of Congress, interested homeowners are encouraged to act quickly in order to ensure maximum savings, regardless of what happens to the IRA. As Yahoo Lifestyle reported, Lillard’s new solar system covers 100% of his family’s energy needs, amounting to nearly £2,300 per year in savings on electricity. "I do not have an electric bill anymore," Lillard enthused.
The panels have captured so much solar energy that the household is already on track to be a net exporter. This means that any excess energy they capture and do not use will instead flow back to their neighbors via local power systems. Not only will this help provide energy to his region, but it will earn Lillard and his family credits on their future bills through a policy called net metering. As Yahoo Lifestyle noted, the average home solar system in the U.S. becomes fully paid off in six to 10 years. After that — with installation costs fully recouped and electricity costs at near-zero — is when the even deeper savings begin.
Lillard’s experience is a testament to the benefits of solar energy, and he is now eager to share his story with others. "Personal testimonies are really the starting point," he said. And his efforts are working; several of his coworkers have opted for solar since he began sharing his own success. If you’re a homeowner who’s interested in seeing what solar installation might cost — and save — in your area, you can check out EnergySage’s free tools for free and easy estimates and quotes. As Yahoo Lifestyle reported, the site works a bit like Expedia does for flights and hotels, except it specializes in showing solar installers in your area, and it can also do the same for backup batteries and heat pumps.
