Solar Advantages
Why Go Solar? One thing is for sure, your electricity bill will continue to go up. By how much? We typically see 14-16% rate increases every 4 years here in New Mexico. The electric company will continue to charge you more for electricity, so the only way to keep from having to pay more and more for electricity is to produce your own solar power and take the power company out of the equation.
Solar is receiving a lot of attention these days and will gain more momentum as it continues to shake up the old energy model that the power companies cling to with every fee and rate increase that is proposed.
By “going solar” you are also doing your part to combat climate change and secure your energy future.
Below are a few advantages you can receive when you install a solar pv system on your home:
- Reduction in Monthly Utility Bill
- Doing Your Part to Reduce Climate Change
- Hedging against the future cost of electricity
- Production of “Green” Renewable Energy Credits
Money from the Sun
A solar pv system allows you to save money from the first day it is turned on. If you install a pool in your back yard, you never ask yourself “When will it pay itself off?” A solar system is not just another household expense, it’s an investment that comes with substantial benefits. A solar electric system will pay itself off in a very short time and will provide financial benefits for many years to come.
Combined with federal and state incentives, customers can see 400+% Return on Investment (ROI) on a 30 Year forecast for a properly installed and maintained solar pv system. Yearly ROI can often times outperform the market, making it a sound short and long-term investment with all the feel good attributes that come with “doing your part” to clean up the only earth we have.
Studies show that a premium price can be set for homes that have a solar pv system installed. “Hoen et al. (2015) analyze a large dataset of eight states' pv homes and find a sales price premium of $15,000 for an average-sized 3.6-kW PV system. Dastrup et al. (2012) find that houses with solar panels enjoy a 3.5% (or $23,000) premium over comparable houses without solar panels in terms of sales price.” See the complete National Science Foundation study here.
Tools have been created to help appraise the value of the energy produced by the solar electric system on your home. These tools are intended to help better make sense of the equipment installed on homes and to help establish a dollar value for the assets and the electricity produced. Click here to visit a tool to help appraise the value of your PV system.
30% Federal + 10% State Tax Credit + High Electricity Rates + Solar = BIG Savings for YOU!!