There are a lot of benefits to converting your home to a solar energy system. You’re helping the environment by not contributing to air pollution and water contamination. Your family is also getting a head start on using an energy source that is becoming more and more popular. And you know that you’re saving some money every year on your power bill. But have you really thought about how much your system is earning you?
Solar Pays for Itself
Going solar is a big decision and cost is typically the #1 concern for most homeowners. So when discussing ROI (Return on Investment), there are a couple of points of view to consider.
If you pay cash for a system, you’re break-even point is typically between 5 and 7 years. Assuming that you will enjoy free power after the break-even point, the ROI is enormous. For instance, if you were paying the utility company $2000/yr for power and you purchased a solar energy system for cash, you would save approximately $14,000 by year 7. Now let’s assume for discussion purposes that your cost for going solar was $14,000. From year 8 to year 25, you would rack up an additional $34,000 in savings. This is real money in your pocket and it is all profit! That system should power your home for up to 40 years!!
Now, let’s take this from another angle. Most of our customers finance their purchase. Here, there is no investment out of pocket, so there really is no ROI, because there is no “I”. Here, we are comparing the loan payment on solar to what the utility was charging you. We typically save homeowners between 30% and 50% from the very first month. Again, this is real money that goes back into your budget. So here, you are saving money immediately without any cost out of pocket.
Pockets Full of Profits
Now suppose that you have that solar energy system for 25 years. That’s the typical life of solar panels. If you’ve kept your panels clean of dirt and debris and done all that you can to conserve energy in your home then you’ve stayed at net-zero the entire time. Over the last 19 years your system has saved you over $45,000 on electricity!
Then you have to factor in the fact that the rates your power company charges you are always going up. But solar is renewable and free, so there aren’t any added costs. Every time your neighbor’s bill raises you can rest easy knowing that those hikes aren’t going to affect you.
The choice is obvious. You can continue paying money to the power company every month or you can earn tens of thousands of dollars with a solar energy system. If you want to find out more about Aurora Energy you can find lots of information on our Facebook page. And when you’ve decided that you’re ready to take the plunge you can contact us. We’re ready to talk to you. We can design a system specifically to meet your energy needs.
Stop letting the power company take your money for giving you something that the sun offers for free. Call us today!