Every solar company has a deviation of the same sales page, “did you know heading solar can save thousands?” it is manufactured by them audio very easy, but the truth is, whether solar is a smart long-term investment for you depends on a few major factors. So before you get into the hype, we recommend you use this simple guide to cut through the sales jargon and determine if solar panels are actually worthy of the amount of money.
How much do you pay for electricity? Your present electricity expenses is the biggest factor in determining how much you’ll save by installing solar. You pay your tool company for each kilowatt-hour (kWh) of electricity you use, and your rate varies significantly depending on your geographical area. In some right parts of the country, you can pay less than 8 cents per kWh; in others, you’ll pay 20 cents or even more. When you go solar, you effectively install a mini-power plant on your roofing to replace the energy seed where your electricity gets its electricity.
That means homeowners with high electricity rates off their utility are the ones who save the most when they switch to home solar power. If you’re just starting out and aren’t sure how much solar can help you save, start out by using an online Solar Calculator. EnergySage’s calculator includes local electricity rate data to offer a customized estimate of what you will probably save, and precisely how quickly your investment can pay off. Just how much does the solar power system cost?
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Installation prices will vary significantly depending on the solar company you choose and the gear you install. While cheap solar power panels might feel like the easiest way to save some cash, your total 20-season savings may also be higher if you invest in high-quality equipment. It’s worth taking a while to review all of your equipment options and find the right combination of price and quality for your home.
You may use an internet-solar market place like EnergySage to easily compare all of your offers in a single place, the same manner you’d shop for a air travel online. Don’t forget to analyze the solar bonuses and rebates available where you live: they can reduce your world wide web cost by 50 percent or even more. The federal government offers a 30 % solar taxes credit, and many says and municipalities have additional financial bonuses because of their residents. Some utilities even offer cash rebates with their customers to encourage them to go solar.
How are you funding your solar power system? Whether you decide to buy or rent your solar panels will have a significant impact on your system’s long-term value. 0-down solar loan, your cost savings could maintain the thousands still. While solar leases and power purchase agreements (PPAs) need no money down and promise a maintenance-free option, they feature a trade-off: your total savings will typically be just 10 to 30 percent of your utility electricity bill.