Save money Save energy : Solar power systems help you save money and control rising electricity costs. Normally, EnergySage solar power shoppers achieve payback on their system in only seven and a half years, and in addition they continue to save for the rest of their system’s 25- yr lifespan. However, your 20-year solar savings rely upon where you live.
There are some major factors that influence what you can save:
Electric power rates: If you live somewhere with high electricity rates compared to other regions, your solar energy savings will be higher thanks to avoided electric bills.
Local financial rewards: If the state or local government offers cash discounts, tax credits or bonuses such as SRECs, you will save even more.
Solar power financing: You will find three major solar financing options: cash purchases, solar loans, and solar leases/PPAs. Each option offers another type of value task and long-term return.
In this scenario, we’ve assumed every month electric bill of hundred buck, and an gross annual electricity rate increase of 3 percent. Save money Save energy The net unit installation cost equals the total cost of going solar power minus the 30 percent federal tax credit for solar.
Keep in brain that under the presumptions above you would expect to pay your electricity approximately $25, 000 for your electricity over the next 20 years. This kind of $25, 000 is the “cost” of not heading solar.
