So you come home from a long day’s work. You’re exhausted, stressed out, and just want to have a relaxing quiet night. You stop by your mailbox on your way to the front door. You walk inside, take your jacket off, and have a seat at the kitchen table. You’d rather grab a drink and sit in front of the television, but you figure you’d better not let the mail pile up and add to any stress at home too. So you sort through the mail. Two credit card offers, a postcard from your extended family on vacation, some junk mail, and… what’s this? Another electricity bill? Last month you paid $281 and you were upset about that. So how much is it this month? $350? Maybe you shouldn’t have gotten that spare refrigerator. Or maybe you should have gone solar.
Utility Companies are not your only option
If you’ve been dealing with hiked rates from your utility company and were afraid of the cost of switching to solar—fear not! Most people think solar will be an added expense, but actually solar power projects pay for themselves. You see, as you pay for your system energy system on a fixed loan, you will be generating power from it. This will offset the cost of your utility bill and that money could be used to pay down your system. So when you install solar, treat it like an investment into your future. You are paying to own your energy resource as opposed to paying to consume monthly from your utility company. It’s like paying for a mortgage to own your home instead of renting endlessly and never getting to own it.
Usually your electricity costs will drop dramatically within the first 60 days of installation. If you install with a company like Green Solar Technologies, your system fees will remain consistent month after month. Even as utility companies raise their rates 5% per year you will be immune to this rate increase because you are no longer relying on them to provide your electricity production.
Breaking down the numbers with Solar
By the fourth or fifth year, your total expenses (paying off solar monthly plus grid connectivity fee and any additional electricity you buy from the utility) will be actually cheaper than what you would be paying if still going 100% through the utility company. From that point on, it’s all savings! After the system is completely paid off (13, 15, or 20 years in, depending on your plan), you are down to paying only a few bucks each month to keep connected to the grid and THAT’S IT! No more paying for electricity for 25 years or better!
Another point to remember is that a solar power system is designed to cover your average day’s usage throughout the year. So naturally, some days you will over-produce and qualify for Solar Renewable Energy Credits (SRECs) and other days you will fall a little short (days of rain or snow for ex.) and therefore will either use your overage or buy from the utility to make up the difference you use. Does this make sense? The concept is simple. Invest into your own energy independence and save exponentially over time.
So to close, solar breaks even with utility fees just a few short years in, and then from that point on you will save more and more with each passing year.
by Ged Friedman