As a homeowner in Durham, CT, you’re probably not a stranger to harsh winters, storms, and power cuts. Although power cuts tend to be rare, they wreak havoc on your routine and make life miserable when they do happen. Thankfully, the state of Connecticut is offering you a brilliant opportunity to say goodbye to power cuts once and for all. But, that’s not the only reason to add battery storage to your home solar solution. Here are a few more:
Benefits of Solar Plus Storage
- Up to 26% Income Tax Credit
The federal tax credit incentive allows you to claim up to 26% of the price of your solar panel system in annual income tax rebates. This rebate covers battery storage too when you combine it with your solar system.
So, if your annual income can support it, then you can get a flat 26% discount on the price of battery storage.
- Energy Storage Solutions
This program offers twin benefits of upfront and a performance-based incentive.
The upfront rebate is calculated on the size of your system at the rate of $200 per kWh of storage capacity installed. The maximum incentive is capped at $7500.
In addition, homeowners get a performance-based incentive based on the amount of stored power the battery diverts to the grid. The incentive is calculated at $200/kW in summer and $25/kW in winter months in the initial years. In later years, the incentive is tapered off at a predetermined rate.
A well-designed solar plus storage system offers reliable backup against power cuts, helps homeowners realize their financial objectives, and gives them a complete peace of mind. The fact that such systems help utility companies improve the stability of the power grid is an added benefit.
It’s a win-win for everyone!