J Ferg Knowledge Base
How Switching to Solar Saves Money Immediately
Did you know the price of electricity has doubled since 2000? With just a little bit of quick math, you can see why switching to solar is one of the best financial decisions a homeowner can make.
Let’s say your electricity bill is $150 a month. At a conservative estimated annual increase of 3.4%, you will pay over $100,000 for energy over the next 30 years. With solar, the energy you produce that is not immediately used will nearly eliminate your electricity bill through Net Metering. That means your monthly solar payment is all you pay. And unlike your monthly energy bill, the solar payment eventually goes away while simultaneously increasing your home’s value. You’ve bought your home; why rent electricity?
Why solar is the smart choice
With the promise of saving money while using clean energy, solar panels seem too good to be true. Can solar energy really be as beneficial as the media buzz around it claims? Although it may be tempting to stick with what you know—typically fossil fuels like natural gas—the benefits and cost-effectiveness of solar energy are undeniable. The sun is an unlimited, easily accessible resource. Here are a few reasons why you should take advantage of solar energy helping the environment and your bank account:
Are solar panels costly?
While the initial investment of installing solar panels may seem intimidating, as the world shifts toward renewable energy, the cost of panels is dropping. The cost of solar installation has fallen about 80% since 2010. Another incentive is the federal solar investment tax credit, a 26% tax break for systems installed in 2022. Since the government focuses on making renewable energy affordable, solar panel prices are better than ever.
How much money would I save?
Solar panels will immediately save you money with lower monthly utility bills and financial returns. Net metering, also called net energy metering or NEM, is a utility rate program that requires your electric company to purchase the excess solar energy your solar panels produce at the full retail rate of electricity. The greatest benefit of net metering to solar homeowners is the utility bill savings. Net metering can result in tens of thousands of dollars in savings over the lifetime of your solar panel system.
Solar panels can also increase property value immediately. A study conducted by The Department of Energy and Berkeley Laboratory showed that a home’s value, on average, can be increased up to $15,000!
Solar is the future
The benefits of solar energy are worthwhile for yourself and the environment. Not only is the recent trend of renewable energy climate-friendly, but it is also economically the intelligent choice when it comes to powering your home or business. Go solar today with zero upfront costs and start saving immediately. Your first 12 months of payments are on us if you qualify, so contact J Ferg Solar today!
The First Step Is To Connect With Us.
Give us a call or use the contact form here to get in touch with a member of our team. From there, we will figure out the best course of action to get your needs taken care of.