Going solar makes great financial sense. The math is simple: you can save money every month with a solar system. Even if you finance your system, your lower monthly bill will help offset the loan payment and your total monthly expenditure for the loan and your power bill may be less than before. Your savings start immediately and your system will eventually pay for itself.
The savings on your electric usage provides a healthy return on the cost invested. A lower electric bill and a system that pays for itself are just two reasons why solar is a smart investment. Here are even more benefits:
Solar gives you protection against electricity rate hikes
Imagine that you had been able to lock in your automobile gas prices in 2004. You’d be paying less than $2 a gallon not only today, but also for decades to come. Whenever gas prices increase, you’d be saving even more money. That is exactly what you’re doing with the cost of electricity when you install a solar electric system.
Because your solar installation is a fixed cost, savings increase as utility rates rise. Essentially, you’re building in a hedge against future rate increases. Rising utility rates are something you can count on, considering that they’ve gone up an average of 5 percent per year for the past 30 years. In 2006, some states saw the highest tier residential rates jump as much as 55 percent in one year.
Solar comes with big financial incentives
Federal and state tax credits and public utility rebates can reimburse you for a substantial portion of the cost of your solar system and installation. Your Hi-Power Solar consultant can explain what savings are available to make your system even more affordable.
Solar increases the value of your home
A solar electric system can increase your home’s value. It can also make your home more desirable than other similar homes without solar.
Solar can help offset climate change
Across the country people are realizing the effects that our actions have on the environment. Going solar can minimize those effects and lower your carbon footprint.
Until recently, there hasn’t been much of a choice but to use the electricity provided by conventional methods. With advances in technology and increased consumer awareness, however, solar electricity is now a very feasible option.
Coal-fired power plants are responsible for 72 percent of all sulfur dioxide emissions in the nation. Solar electricity produces no pollution. One million homes using solar electricity would reduce carbon dioxide emissions by 4.3 million tons per year, the equivalent of removing 850,000 cars from the road. By using more solar electricity, fewer power plants that produce greenhouse gases would need to be built.
Solar is clean energy
A solar electric plant generates no harmful emissions. You can power your home with 100 percent pure sunshine that is both clean, renewable and abundant — so much so that it’s been calculated that a 100-square mile array of solar modules in the Southwestern United States could generate enough electricity to power the entire country.
Solar offers you energy independence
By switching to solar electricity, we can help alleviate our over dependence on foreign sources. Solar electricity is used where it is made, so there are no transportation or delivery costs.
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