If you’re interested in a solar system, you may be wondering if they’re really worth the investment and if you can really save money. And the answer is “yes!” Solar power saves you money, and if you’re in an area with plentiful sunshine, a solar system is worth every penny. Here are a just a few ways you can save with solar.
1. Federal/Local Rebates And Incentives
First, when you purchase a solar system, you can get a big tax break. You’ll be eligible for a tax credit for 30% of the value of your solar system. In addition, your state and local government, or your utility company may offer other rebates and incentives that will help you save money on the installation of your solar panels.
2. You Can Cut (Or Eliminate) Your Power Bill
A 5-kilowatt capacity solar system can produce about 8,576 kWh of power per year in a sunny area, such as Las Vegas – cutting your power bill by nearly ¾.
And, even in a less sunny area, like West Virginia, you will still produce more than 6,000 kWh – eliminating half of your power bill, or more if you focus on minimizing your energy consumption.
3. You May Actually Earn Money With Net Metering
If you live in a state with “net metering” and you generate more power than you use, it is effectively “sold” back to the utility company. They must credit you with this power – and it goes towards paying your power bill when your solar panels aren’t generating as much energy, such as in the winter.
And, if you made more power than you consumed, your utility company actually has to pay you for the energy you produced – you could actually earn money!
4. You Don’t Have To Worry About Rising Energy Costs
Because your solar panels will continue generating power for years and decades to come, you won’t be as affected by rising energy costs. The more the price of power rises, the more cost-effective solar panels become, so solar makes the most sense in states where energy prices are very high, such as Hawaii and California.
In fact, if you are able to sell some of your power back to the utility companies, rising energy costs could actually be helpful, and help you recoup your investment in solar panels even more quickly.
Save With Solar Panels From Encōr Solar
At Encōr Solar, we’re passionate about solar energy. With our high-quality products and Zero Down program, it’s never been easier to invest in clean, renewable energy – and save big on your power bill. Get a free, no-obligation, quote today.