How Exactly Do You Save Money With a Solar Power System?

Are you thinking of a residential solar installation for your home, vacation home, or rental property?

If you are imagining a price tag, wondering how you could ever afford it, there are a few things to remember:

Real, Continuous Savings

The most important thing to know is that you will save money on your utility bills every single month. It is not uncommon for a utility bill to be around the same amount as the loan you used to finance your system. For example, if you pay $90 for your solar loan and save around $100 in electricity, this is already a pretty good chunk you've wiped out from your monthly energy expenses. 

The beautiful thing is, while your solar bill stays the same, your monthly savings on utilities will continue to increase since you are now immune to rate increases.  

Many Purchase Options 

While purchasing a residential solar system is within the means of some, most opt to finance. Thanks to the abundance of banks and credit unions operating in Colorado, many financing options are available to you. On top of the private sector, Colorado's statewide RENU program can finance your residential solar for about the interest rate of a student loan, depending on your credit score. 

And don't forget about the federal solar tax incentive: 26% in 2020 and due to expire after 2021.

The Cost of a New Car

I can tell you from over a decade of experience, that an average residential solar installation is often similar to the price of a new car. However, while the car depreciates as soon as you drive it off the lot, your solar panels will do no such thing. They will add real cash value to your life for decades. A 25-year warranty for a rooftop solar install is commonplace, and your system will pay for itself in a fraction of this time.

Conclusion

Contact me today to see how affordable going solar can be. Break free from the madness of the energy cartel and lighten your carbon footprint. It has never been this easy.