As 2022 goes the way of the setting sun we’re reflecting on the year gone by and looking ahead to the opportunities in front of us. Dwelling on the past and focusing on the future can be a bad habit if we get carried away, but every once in a while it’s appropriate. And what better time than the dawn of a new year?
Solar in 2022
Last year was big for renewable energy! And with the passage of the Inflation Reduction Act (IRA) there has never been a better time to invest in solar.
Inflation Reduction Act and Opportunities in the New Year
At $369 billion, the IRA represents our nation’s most significant commitment towards combatting climate change in our history. Just as renewable energy incentives were beginning to dwindle and threatening to go away entirely, the IRA not only extended federal rebates for an additional 10 years, but it set the rebate at 30% for the duration.
Solar Power
With a 30% tax incentive, and considering the average rooftop solar system costs in the neighborhood of $25k, we’re talking no strings attached, cash back rebates of upwards of $5k and even $10k! When I bought my array in 2016 my next tax return included an extra twelve grand – the federal rebate was 30%.
Energy Storage
One difference between the rebates available to me in 2016 and those available today, thanks to the IRA, is that rebates now apply to energy storage. Previously, solar incentives were limited to power generation equipment. But now, you can benefit from the 30% rebate on battery storage as well. In fact, you don’t even need to purchase renewable generation at all to benefit from the IRA rebates. If you want battery storage for peak shaving or just to back up your power when the grid goes down, you get 30% off the top! Pretty sweet huh?
Heat Pumps
Are you getting rocked by the cost of heating? With global conflict inflicting turmoil on energy markets everyone is affected. Whether you use gas, oil or electric resistance heating, your energy bill probably wasn’t friendly this year. There are ways to insulate yourself from these punishing market conditions though. The obvious solution is rooftop solar, but a less obvious way to insulate yourselves from skyrocketing fossil fuel costs is to heat your home more efficiently. Heating and cooling after all, is your most demanding energy load.
If you’re burning oil or gas to keep warm, switching to a heat pump can dramatically reduce your energy bills. Unfortunately, it isn’t a panacea though. You will need an auxiliary source of heating when the temperature drops below about 40 degrees, so don’t go tossing away your oil tanks just yet. As a bonus, the unit works in reverse in the summer months effectively becoming an AC unit.
So why are we talking about heat pumps? Well, if you don’t have one, the IRA has you covered here as well! In addition to other home energy improvement projects, the IRA offers up to $1,200 per year to help you make your home more energy efficient. This would account for about half the cost of a new heat pump.
Electric Vehicles
And the savings don’t stop just yet! If you’re ready to electrify your commute, the IRA offers an EV tax credit of $7k for new EVs and for the first time ever, a rebate of up to $4k is also being offered for used EVs.
Founding of Evergreen Off-Grid
Among other disasters, this whirlwind of a year also brought us Evergreen Off-Grid! Yes, this was the year we started this journey. And if you’re reading this, thank you for following along! We got up and running in May, writing blogs to help you all understand solar. We’ve built up a catalog of articles we’re proud of that help folks learn everything from DIY to tax incentives.
We helped you learn about solar integrated roofing, we toured a wind farm and even told you why you believed it was illegal to collect rainwater from your rooftop (spoiler alert: it’s not).
Evergreen Off-Grid in 2023
Next year we will continue on teaching and advocating. We’re building a solar shed and we hope to convince you why you want one too. We’ll show you what you need for a small DIY setup that can power your outdoor shed, outdoor lighting and security, but also serve as a small emergency power source during a power outage. We’ll show you what equipment we use and how to set it up. After the blog and video series is complete, you’ll be ready for your own.
Year End DIY Solar Deals
If you want to get a jump start on your DIY projects check out the New Years DIY sales now on offer from our affiliates!
Note: As an affiliate, I earn from qualifying purchases.
Renogy
HQST
Newpowa
Thank You and Happy New Year!
Thank you so much for reading! I’m super grateful for your interest in our blog and for taking the time to visit our site. May you have safe and joy filled holidays and an amazing new year!
Oh yeah! We also started a Facebook Group… so join us there too!
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