How To Go Solar & Save On Electricity

Every year the cost of solar panels has continued to drop, about 20% over the past five years.  What this means is that you can save on energy costs in the long run; while you may have to arrange for some upfront expenditures (as high as $20,000 or more), these costs can be taken care of by $0-down and low-interest loans, depending on what state you live in.  Here are the things you need to investigate to go solar.

Sponsored Links:

right arrow buttonSolar Providers Near Meright arrow buttonSolar Panel Pricing May Surprise Youright arrow buttonSolar Installers Near Meright arrow buttonHow Much Can You Save With Solar?

In a typical installation, solar panels go on your roof and then connect to the electrical grid.  What this means is that you may draw electricity from the normal power grid depending on the time of day (again, depending on state).  Likewise, if your system is overproducing energy, it may contribute power to the grid.  Solar systems mean you can save on or eliminate your energy costs, all while helping to contribute to a more environmentally friendly energy system.

Companies such as SunPower advertise $0 down systems for qualified customers.  SunPower claims a savings of up to 80% for customers in large markets such as California, vs. energy costs for the rest of the country.  They advertise themselves as a “complete” home solar system, meaning all components are designed to work together, and not just the solar panels; their systems come with a 25 year warranty.  Other systems may be assembled piecemeal, making a comprehensive warranty difficult.  SunPower also has a “SunVault” storage system to capture extra energy during the day to be used during a power outage; they help keep electricity going in places like California where outages are common.

There are a number of financial incentives available from various arms of government to encourage consumers to go solar.  Various states offer tax credits, so be sure to check your local state’s government websites for any potential rebates or credits.  The IRS also just extended a Federal tax credit for 26% of installation costs deducted from your overall tax liability.  This credit will be dropping to 10% in 2024, so be sure to act fast before the change.

Finally, there are a host of programs designed to get low-income communities using solar power; again, these vary by state.  One such program is MASH in California, which has paid out over $150 million in incentives on completed solar projects for affordable housing multifamily dwellings; another example for single family dwellings is the California SASH program.  The best way to get your head around what the local incentives are in your state is to contact a reputable solar installer in your area.

Some of the largest solar installers in the USA include Sunrun, which also advertises “$0 or little down,” and the ever-familiar Tesla of Elon Musk fame.  If you are unsure about whether or not going solar makes sense for you or your living situation, representatives from these companies can help you sort the wheat from the chaff.  You can also use this Frequently Asked Question guide as well as this calculator.  Many people could save as much as $40,000 on energy costs over 20-years, so it is usually an improvement that can pay for itself.  Finally, be sure to examine this guide from the National Council for Solar Growth.