Expensive Utility Bills vs. the Cost of A Solar Power Installation

Posted by New Day Solar
1 year ago | May 14, 2019

One of the main objections to solar is the worry about the cost of having a system installed. Homeowners want to know: how much do I need to spend on a solar system for my home? Unfortunately, there isn’t a straightforward answer to this question.

Every home is unique in the layout, design, and amount of electricity used by the family. The simple solution is to schedule a complimentary consultation so we can evaluate your home and provide suggestions and recommendations about the amount of solar panels needed, the cost and the layout that will work best for your individual energy needs.

Focus on the Long-Term Investment

Instead of getting caught up on the initial cost of having solar installed, consider the long-term investment that is available for your budget. There’s no question that electric bills are expensive. Consider the amount that you are spending on electricity each month, then add that cost up over the next 20 to 25 years. You can expect that electricity costs will continue to rise, which means your utility bill will increase each year. 

The advancement of technology has made it possible for solar power to be accessible to homeowners across the nation.  You usually have 3 choices to get solar, you can pay cash, which is the least expensive option.  You can finance the purchase of the solar system through a solar loan, or you can lease.  A solar loan is normally through a credit union for 12 years, with no money down. When you pay cash or finance your solar system, there is a 30% Federal Tax Credit available to you.

Choosing a lease option usually isn’t the best choice, because you will never have full ownership of the system, you usually will pay a lease payment each month for 20 years instead of 12 and you won’t be able to take advantage of the 30% Federal Tax Credit.

The solar loan option allows you to pay the system off so you can have free, clean energy for your home. Once the equipment is paid in full, it means your monthly payment will go away. Even though your solar loan is paid off after 12 years, you can continue using the solar system because both the solar panels and the inverters come with a 25 year manufacturer warranty.

Personal Recommendations for Your Home

If you are thinking about clean energy options for your family, then we are here to help. With 31 years of expertise, we will gladly answer your questions and provide guidance and advice about the solutions that will be best for your energy needs.

For more information about having solar installed at your home, you are welcome to contact us for a free, no obligation consultation.  Call today to get started:  New Day Solar: (855) 444-6329 or visit us online at www.newdaysolar.com.

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