Pretty much everything comes down to numbers these days, especially with solar panels. Every day we talk with potential customers about how much solar will cost, how much they can expect to produce, how much they might save. Because solar is a big financial decision, it’s true. Making the switch to solar can seem expensive and intimidating, but it doesn’t need to be. Let’s break it down for you.
What You Pay Now
First you need to see how much energy your home or business requires at the current time. Go through your utility bills for the last year and gather an average amount of power used to run your entire structure. That number will help your solar panel consultant determine how many panels you would need to go zero-energy. While you’re at it, add up how much you spent on power during the last year.
What Solar Will Cost
For the average American home, the cost to purchase and install solar panels will be around $21,000. This number will vary for your home, because it depends on how many panels can be mounted to your roof, local promotions, and more.
There are a variety of incentives that can make your solar panels more affordable. You can take advantage of local promotions or price-matching in your area. You will also benefit from tax credits and rebates from local, state, and federal government – some get up to $3,000 back. Financing is very competitive, so you may receive incentives for putting more money down on your solar panel system. Don’t forget that the value of your home will jump significantly with the addition of solar panels.
Take the overall cost of installing solar, and you might be intimidated. However, if you stop to think about the financing the numbers start to change. Most offer low interest rates with a 15 year term, meaning your monthly bill will be under $200. How much were you paying each month for power again? The cost might be a lot at first, and you might be paying more for your solar loan each month than for your power bill, but after 15 years (or earlier) you will have it totally paid off and pay NOTHING for your power for another 20+ years because your solar panels will keep working.
The precise cost of solar panels will vary for your individual situation, but nearly every customer or business will find that solar will save them tens of thousands over time. Call us to do the math and we can make your dream a reality.