06/23/2021
We are launching a series of FAQ's from today! We hope to answer all of your questions. Let's get started.
Will solar power save me money?
The short answer is, yes.
To understand why, though, takes a little bit more analysis. The thing about solar is that it’s a long-term investment. It’s like you’re pre-paying your electricity costs all upfront and then you’re reaping the benefits for years to come.
With solar, you purchase a system that is capable of generating the electricity you use (or at least a percentage of what you use). That portion of your electric bill is then taken care of for at least the next 25 years and most likely 30 or 40 years.
To illustrate how it works, imagine that someone came to you back in 1980 and asked if they could install a gas pump in your back yard.
You could pump enough gas to cover all of your needs for $1.00 per gallon. However, you had to pay a one-time fee of $15,000.
At the time, you might’ve hesitated because coming up with $15,000 all at once might’ve been a challenge. However, when you thought about the numbers, it would definitely be in your best interests to make the deal.
By comparison, if you kept going to the gas station for the rest of your life, you would spend way more than $15,000 in gas costs.
The same principle applies with going solar. You’re prepaying your electricity costs for a fraction of the cost that you’re going to spend with the utility company for the rest of your life.
However, you do have to pay for the system on the front end.
Luckily, the solar industry has evolved to the point where most customers who go solar use innovative financing programs to help pay for their purchase. These financing programs get you a low monthly payment that is fixed to help you pay for your system.
The payment is typically cheaper than what you’re currently paying for electricity. This means that on a monthly basis, you may be able to start saving money right from the beginning.
Regardless of whether you’re looking at it on a monthly basis with financing or looking at the long-term numbers of a cash purchase, solar will save you money.
In the mean time, if you've got questions, just send us a message.
