Solar energy is rapidly increasing in popularity across the United States – and for good reasons! Because of different factors such as the increase of module efficiency and installation options, switching to solar in the U.S. is the most affordable it’s ever been. In fact, the price of going solar has dropped by over 50% in the last five years! So, if you’ve been debating the switch to solar energy, you may want to more seriously consider your options.
When you’re deciding between going solar or continuing to buy energy from your utility company, it is important to understand the financial implications of both options. Oftentimes, home and business owners see the price tag of a solar installation and decide not to investigate further–without analyzing the costs they have been paying every month to the utility. Here are a few important reasons that going solar is worth the investment.
Increasing Utility Rates
Did you know that the rate you pay for electricity increases by about 3% every year? That means that over 20 years, it is estimated that your costs will double… for the same electricity you’re getting today. In other words, even if going solar only saved you a little today, it will save you a lot down the road.
Decreased Solar Pricing
Many homeowners and business owners want to wait for solar to get cheaper before looking into it. However, with the average Price Per Watt (PPW) of going solar decreasing by over 60% in the last 8 years, it already has! With the sunset of the Solar ITC around the corner, it is likely that pricing is currently as good it as it will be for the foreseeable future–and that’s pretty great.
Increased Home Value
Most residential solar adopters are able to increase the pricetag of their home by the cost of installing the solar array. But in reality, solar adds even more value than that to your home. If you go solar before 2022, you’re not only creating a home that is free of energy expenses for 30+ years, you’re doing it for the lowest cost possible because you get to use tax credits to pay for your system. In other words, you’re investing less to get the same amount–yielding a higher return on your investment.
By going solar, you directly decrease the amount of fossil fuels burned by your utility company. This decreases your utility’s carbon emissions and, in turn, global warming. In fact, the average home that switches to Rooftop Solar decreases carbon emissions by 560,000 lbs over the life of it’s solar array. To put that in perspective, that’s the same amount of CO2 emitted by consuming 44,553 gallons of gasoline, burning 436,274 lbs of coal, consuming 917 barrels of oil. It is also the environmental equivalent of planting 6,547 trees*!
These are just a few of the reasons that solar is worth the investment. With a mission to reenergize our communities one household at a time, Rooftop Solar has options for you with regards to both equipment and financials so that you can personalize a system to meet your unique needs. Call today to meet with a Project Developer and find the right solution for you.