Do you love solar energy, but you’re having trouble wrapping your mind around how to utilize this abundant source of power?
There are lots of ways to support solar, including putting an array on your home. But there are lots of considerations like system size, roof orientation, current electric rates, utility rebates, federal tax credits, leasing vs. buying, etc. So how do you know if solar is the right choice for you? We’re here to help.
Here are four key questions you may want to ask:
- Cost: What is the price of installing solar at my residence?
- Return on investment: How much money will I make compared to what I am investing?
- Payback period: How long will it take before my investment is repaid?
- Energy cost: What am I paying per kilowatt-hour produced by my system over time?
We’ve pulled together a few resources to get you started:
- To learn about solar rebates, incentives or tax breaks available in your area, visit the Database of State Incentives for Renewables & Efficiency
- To determine if solar is a smart investment, get a free online assessment and learn more at GreenMountainEnergy.com
More and more savvy homeowners are seeing the light. Consider this¹:
- The installed cost of “going solar” dropped another 12% from 2011 to 2012. Prices now are 33% lower than in 2009.
- Residential solar installations grew by 61% (95,000 systems) over the same period, fueled by the growth in lease arrangements and third-party system ownership.
Do you live in an apartment? There are some solar options for you, too.
So what are you waiting for? Find out whether solar makes sense for your residence – there’s plenty of time to get an array installed before summer!
¹ Report: Tracking the Sun VI, U.S. Department of Energy, Lawrence Berkeley National Laboratory, July 2013 (http://emp.lbl.gov/sites/all/files/lbnl-6350e.pdf)
Report: U.S. Solar Market Trends, Interstate Renewable Energy Council, July 2013 (http://www.seia.org/sites/default/files/IREC_2012%20Solar%20Review.pdf)