If you’ve been thinking about ways to save money on your home utility bills every month, the time may be right to work with a local company to convert your residence to solar power. By now, you’re probably aware that solar panels can save you money over standard electric bills, which have been increasing for the last 20 years at a national average of more than 5 percent per year. Studies show that in a 2,000 square-foot home, standard savings can be at least $25,000 over a 10 year period. Not only can you realize a savings on your bills by going with solar, but you can possibly qualify for federal, state and/or local tax rebates and incentives that will save you even more money. Federal solar tax credits are still available through the end of 2016. In addition to savings from government, some power companies offer rebates or credit for excess power sent back to them from consumers’ systems. You can check with your local utility company to see if this is the case for your area. Solar power can lower your bills as well as create an ecologically-sustainable energy source for your home. That means less energy needs to be produced by local energy providers, which helps keep pollution out of the environment. That makes sense for your local region and the global community at large. You may be thinking all of this sounds great, but what about the costs? Now there are solar companies that will lease solar panel systems to you instead of you having to purchase them. Why lease a system? There are several reasons. First of all, purchasing a solar panel system and installing it is a huge upfront investment few homeowners can afford. Even if you can afford the initial cost, maintenance and repairs are usually the responsibility of the homeowner. Now, solar panel companies exist that will do the installation
and lease the panels to you on a long-term contract up to 20 years. Payments will be lower than what your electricity costs are currently. Compared with buying, leasing is often the more sensible choice, as the leasing company usually has a warranty and maintenance plan that will cover any defects or servicing required.
On the other hand, those homeowners who are interested in purchasing may be able to take advantage of options for financing their purchase. If you’re interested in this route, you should check with your local solar panel installation provider to see what offers are available to you.
In the long run, choosing a solar power system makes sense from an economic and sustainability perspective. By going with solar, you’ll be joining millions of other homeowners across the country and around the world who are discovering the benefits of this renewable energy source. Take the time to talk with a local provider who can give you expert advice on what kind of system and financial arrangement can work for you, and get ready to start saving.