Eliminate Your Energy Bill
One reason consumers are enticed to go solar is the financial benefit. On average, Americans pay $100 for electricity per month, and this is projected to rise year after year. The EIA (Energy Information Administration) forecasts the typical U.S. household will spend an average of $426 on electricity for the second half of 2018. This is a 3% increase from the average expenditure in 2017. Going solar gives you the opportunity to completely eliminate your energy bill. Here’s how:
Once your solar panels are installed, you do not have the same reliance on your electric grid. You power your home through energy generated from the sun, which is absolutely free! The higher the electricity rates in your area, the more you end up saving. Electricity from your local utility company will only serve as back-up, depending on the amount of energy your system produces and how much you use.
Depending on where you live, you can take advantage of tax programs and rebates that encourage the use of clean energy. For instance, the federal government will pay 26% of your installation cost through a tax rebate. These incentives can increase your savings dramatically!
Avoid Rising Power Costs
By switching to solar, you also save the money you would be spending on the rising costs of power. Energy price hikes can happen at any time. This is because power produced from coal, oil and natural gas are vulnerable to fluctuating markets. Utility costs from these sources are continuing to rise as the years go by. A solar panel system is more consistent and predictable because it is renewable by nature, therefore remains consistent over time.
With solar, you have the chance to no longer worry about monthly electricity charges throughout its 25+ year lifespan. See if your house qualifies by filling out our free Sun Analysis below!