What's in Build Back Better? With all the arguing over taxes, leave, and Medicare benefits, it's easy to miss what's not even being debated right now. One aspect that can impact your personal life is how you heat and power your home. What's new in the bill?
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Take home solar. What does BBB provide? First, it provides clean power production credits for creating the panels. This will reduce costs the consumer over time. But immediately it provides a 30% tax credit. How does this work?
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You can either pay for a system in cash, or you can get a solar loan, typically loan interest over a 20 year period. The contractor will size your system such that the loan payment plus your new energy bill will be less than what your energy bill is now. But to boot....
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you get a check from the government (next time you do your taxes) for 30% of the system cost, which you can either choose to apply to you loan and reduce the monthly payment even further, or just keep and spend it as you see fit. Sound too good to be true?
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It's not. It's just math. If you pay cash for it (say a $15k system with a $4500 credit) the system may pay for itself in 4-6years.
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What else? You just added a solar system, so want to take advantage of the free energy you're harvesting. BBB provides credits/rebates for upgraded HVAC, specifically heat pumps.
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Heat pumps take energy from the ambient environment and move it into or out of your house to either cool it or heat it. I won't explain the technical details, you can google it.
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Size your solar system right, and with net metering or a storage system, you can upgrade your old, junky furnace and cool and heat your house with a minimal monthly energy bill.
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BBB incorporates numerous proposed bills developed by committees over the last year. See for example, the Hope for Homes Act welch.house.gov/media-center…

4:05 AM · Dec 3, 2021

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I really wish a Dem Senator or House member were out there selling this, instead of arguing with Manchin and Sinema over their unrelated sticking points.
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Bottom line, talk to your local solar and HVAC contractor next year what BBB can do for you to save you money and make your home energy self sufficient, save you money, and drastically reduce your carbon footprint. Let's hope this passes.
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