Solar Energy is a clean, renewable, and dependable energy source. However, today, one of the clearest benefits of solar is saving money. Going solar, on average, will net our customers $50,000 over the life of the system.
That's right, you could get a return on investment of $50,000.
All of our customers' systems are unique and the amount of money they save will vary. Some will clear more money over the life of the system, some will clear less. The factors that contribute to the return on investment are number of panels, cost of electricity, array orientation, and applicable tax incentives and company rebates.
Still, for those with a roof or property that gets a significant amount of sun, solar is a great way to save money.
How You Save
Each month, you use energy. The utility monitors your usage in kilowatt hours (kWh) and sends you a bill. With solar you offset that energy and send excess production back to the grid. The energy company will pay you for that excess energy.
As time goes by, inflation and cost of doing business will require ALL electric utilities to increase their rates. The U.S. Department of Energy estimates that energy will continue to at 5 to 8 percent. That means you will offset more money as energy prices continue to rise.
Right now, there are numerous incentives to install solar on your home or business. The most significant, on a national level, is the Federal tax credit of 30 percent. It is a credit off the entire installed cost of the system. The taxpayer -- either business or resident -- will need to pay in the Federal taxes in order to receive the money back.
Several states have tax credits. In our service area, Iowa and Louisiana offers state tax credits to people who install solar. As for utility rebates, that depends on who provides your energy. Please check out our service area page on the side of this page for more details.
The other significant way to make money with solar is energy conservation.
Not only does Able Energy Co help you produce power on site, we want to help you conserve energy in ways you haven’t in the past. With today’s technologies in lighting, energy efficient transformers, or automation systems just about anything is possible, let’s get the conversation started today about your needs with energy Efficiency, Contact Us for more information.