Q: Can Solar Panels Save You Money?
When searching for ways to trim that household budget, one of the most commonly asked questions that Simply Solar receives from home owners is, can solar panels save you money?Most people are under the mistaken impression that solar panels require a big investment of money that takes a long time to recoup and are skeptical of claims that solar panels can actually save money. We’re happy to report that solar panels do in fact save homeowners money! And you can begin to enjoy those savings by investigating how to obtain a solar panel lease that requires absolutely no upfront costs to get you started.
The amount of money that solar panels can save you starts with the 30% Federal tax rebates that you can apply for when you install a solar energy system on your rooftop. There are also additional financial incentives offered by your local power company as well as state financial incentives for switching from pollution-producing fossil fuels as your source of power to clean and environmentally green solar power.
Let’s take the city of Phoenix as a good example of monthly cost savings when solar power replaces fossil fuel power. The monthly operating cost for electricity can range anywhere from $97 to $290 depending upon your home’s square footage, number of stories and whether or not you have a swimming pool. You can realize a huge monthly savings on your regular electric bill when you switch to using solar panels, and studies have proven that every dollar that is saved in energy savings adds as much as $25 in equity value to your home.
Solar panels save you money by allowing you to make the best use of your money because you will know upfront for many years to come the exact amount you must budget each month because your energy costs will no longer fluctuate as they do with oil and gas. Who knows how much oil prices will skyrocket over the next five years, but by investing in solar panels with no money down, over the next five years, not only will you have saved a minimum of $60 monthly in energy costs, you will also be well on your way to having paid for your solar panel installation in full. From that point on, all of the energy you produce will be absolutely free of charge and you can even sell the surplus energy your solar system produces back to the power company for a tidy profit.
Every housing situation is different, so why not call Simply Solar to arrange for a free consultation to learn more details about how solar panels could be saving you money for years to come.