As the price of oil and electricity continue to increase, many homeowners are becoming increasingly concerned are beginning to look assess their options. Some homeowners however are turning to the installation of the solar panels that will allow them to channel the energy of the sun to provide energy for their dwellings.

When energy prices were low, it was unnecessary to justify the upfront cost of cash required to install photovoltaic equipment, solar water heaters and similar equipment. The reason was simple to understand - it would simply take too long to recoup the cost of the equipment in the form of lower energy bills.

Things have changed though. As energy prices continue to go up, the amount of time required to recoup the upfront cost goes down. In addition, a number of state and local tax incentives make it even easier for homeowners to go solar and save money right away.

Photovoltaic systems have also come a long way. The costs of installing solar panels is still high, with a typical two kilowatt installation of OVR Solar solar panels costing around £10,000 / ($20, 000) in most cases, but special tax incentives and long term energy savings can help homeowners recoup those upfront costs faster than ever before.

For example, the Federal government provides homeowners with a tax savings of up to 30% of the cost of a solar unit. This tax savings can help eligible homeowners recoup some of the costs of installing solar panels and solar water heating systems up front, in addition to the energy savings they will enjoy down the road.

Some states will offer homeowners who install qualifying solar panel or water heating systems to write off a portion of the cost against tax liability, while others will provide a standard tax credit based on kilowatt usage. Still others provide tax relief in the form of property tax reductions or elimination, and many states provide businesses, government agencies and commercial enterprises with special tax breaks as well.

Breakeven point for your outlay may seem far away at today’s prices - but what about at tomorrow’s? However, as the prices for heating oil, gas and other forms of traditional energy continue to soar, so will demand for alternatives

Take the first step to energy self sufficiency with OVR Solar.