Many homeowners continue to ask – Is solar power worth it?
The resounding answer is….YES!
Some people who see the potential solar panel system cost of $15,000 – $20,000 can’t get past the initial large number shock. They would be even more shocked if they were told what they would be paying if they don’t switch to solar. If they do nothing and stick with their utility they’ll pay about $30,000 – $40,000.
Many homeowners pay about $125 per month for their electricity needs. This amounts to $30,000 over 20 years. Actually, it would be much more as utilities have historically raised rates at 6 percent per year. The same homeowners could finance a solar panel system that would cover 90 perecent of their needs and pay no more than $20,000.
Is saving $10,000 over 20 years worth it? Of course it is.
Once people get past the initial sticker shock of solar and realize that they would be paying their utility much more, the affordability of solar power becomes very apparent.
Many also do not realize that there is readily available financing for solar panel systems to help homeowners avoid up front costs.
It should also be mentioned that the numbers presented here are, if anything, lower-end averages. Many homeowners in the Southwest and Northeast, for example, pay hundreds of dollars for their monthly power bills. These homeowners would require a system that costs more than $20,000. However, the value and savings of solar remains the same.
What is the value of solar power? Regardless of the size of the system, residential solar power is approximately 8 cents per kilowatt hour ($0.08/kwh). The average cost for residential electricity is about $0.13/kwh. That 5 cent difference spread over 20 years equals thousands of dollars. Of course, millions of people pay more than 13 cents per kilowatt hour. Solar power makes even more sense for them.
Unfortuntately, not every homeowner can go solar. Their roofs might not be suitable, there could be major shading issues, or there might not be enough spacing for a ground mounted system.
For the rest, solar power represents a financial opportunity like none other. As an investment, the ROI of solar easily beats the stock market. It also represents a major shift in control from the utilities to the homeowners. By going solar, homeowners essentially lock in their power costs over a period of 25 years or more. No more rate hikes.
Another powerful idea is that solar power means energy ownership. In addition to owning a home, people can now own the energy that their homes require. This is a truly revolutionary development that will go a long way in creating a more democratized society.
Spread the good word to the homeowners that you know that now is a great time to look into solar power. The long term savings are too good to pass up!