What are the three most common reasons for going Solar?
To lower or eliminate your electric bill
Electric energy prices are steadily increasing. For example:
- Average monthly electricity bill is: $200.00
- Over 12 months you spent: $2,400.00
- The next 10 years you will spend: $33,531.94
- The next 30 years electricity will cost you: $201.124.03
Increased Home Value.
Has your retirement fund taken a hit lately? In addition to increased home value, Residential Solar can produce small, but certain long-term returns.
You could pay $201,124.03 to your electric company over 30 years
- See $ 0 return on your investment
Or, you could invest money into a Solar System:
- After you pay off your solar system, you have 30+ years of free electricity
This is a huge return on your investment considering that you will be saving at least 20 years of electricity, which would cost you around $93,582.54.
Remember: Federal Tax Credits and other Local Incentives can pay for over 30% of your total solar project costs!
Benefits of Solar
- Reduce or Eliminate your Electricity Bill
- No Moving Parts
- 25 Year Electricity Production Guarantee*
Fixed Electric Rate
- Stop Rising Energy Costs
- No More Surprise Bills
- Enjoy Electricity During Blackouts
- Requires No Fuel
- Recharges During the Day
- Provides Free Electricity
- Zero Emission
- Generates Electricity for 25+ years
Return on Investment (ROI)
A typical solar installation, after considering local, state, and federal rebates, will pay for itself in 8-12 years. If you are an investor, this is an equivalent of 12.5 – 8.3% return.
In addition, solar incentives can add up to several thousand dollars each year, slashing pay off time and increasing ROI. A positive cash flow is established from year one!
But you cannot compare solar to a typical investment because it is tax-free. In addition, a solar system has no risk since the only factor it relies upon is the sun.
Many companies are setting environmental goals in an effort to be good corporate citizens. Installing a commercial solar power system is an excellent way to fulfill corporate environmental goals and while benefiting from fixed electrical operating costs.
Financing, a Renewable Energy Electric Rebate and Tax Credits, plus the tax benefit of Accelerated Depreciation can cover up to 60% of the Commercial Solar Power System Cost!
For commercial solar power systems:
- Federal government provides your choice of a 30% federal tax credit or cash grant paid in full.
- Businesses can take advantage of the tax benefit of accelerated depreciation.
- Positive cash flow can be obtained on most commercial solar power system installations as early as the first year after installation.
Residential solar systems are eligible for the energy production rebate of up to $5,000/yr, based on the system-specific design factor.
Earn 30% federal tax credit of total system cost.
100% sales tax exemption.
Please contact SunPower by Renewable Energy Electric to learn more about rebate levels in your area.
Solar systems are also property tax exempt. They do increase the value of your property when it’s time to sell, but not your property taxes.
Click here to learn more about residential solar benefits or read about our installation process below.
This month’s new solar customer special:
- 25 year Solar Panel AND Inverter Warranty
- 10 year Full Workmanship Warranty
- Free Lifetime 24 hr Monitoring
Residential Solar Benefit
In addition to solar being an economical and safe investment, residential property owners can benefit from installing solar thanks to:
Net Energy Metering
Net Energy Metering Law allows solar PV system owners to bank excess electricity back to the utility company, for a credit to owners’ accounts. When a solar system generates more electricity than is consumed by the home, such as a sunny afternoon, the extra electricity is sent back the utility grid, and the utility company credits the system. Please contact SunPower by Renewable Energy Electric to learn more about net metering.
For example, if you spend $25,000 on a solar power system for your home from SunPower by Renewable Energy Electric, after incentives, this system may save you around $2,000 in first year energy expenses, which equates to an immediate increase of $40,000 in the resale value of your home. That is 60% of your initial investment and immediate equity in your home!
Financing – SunPower by Renewable Energy Electric offers several residential and commercial financing options. Contact SunPower by Renewable Energy Electric to learn more about our exclusive Solar Finance options.
Solar Power Homes Appraise Higher
A residential solar power system will increase your home’s property value immediately! According to the Appraisal Institute, for every $1 reduction in annual electric bills due to the installation of a residential solar power system, your home’s value will increase by about $20.
For example, if you spend $26,000 on a solar power system for your home from SunPower by Renewable Energy Electric, after incentives, this system may save you around $3,000 in first year energy expenses, which equates to an immediate increase of $60,000 in the resale value of your home. That is more than double your initial investment and immediate equity in your home!
Solar Power Homes Are More Marketable and Can Sell Faster!!
A residential solar powered home is easier to market and sells faster. According to the LA Times, there is a bright spot in the current slow residential real estate market: Residential Solar powered homes are outselling homes with traditional electrical systems. Developers recognize the marketability of Las Vegas residential solar powered homes and are increasingly including solar roof panels in new home design.
When it comes time to sell, you will have your significantly reduced or zero cost electric bills to show potential buyers. Homes with a residential solar power system have significant sales leverage over homes with traditional electrical systems for sale in your area because buyers love the idea of having lower monthly bills!
Control the Cost of Electricity
You may be aware most solar owners don’t rent their home, vehicles, nor furniture.
Now you can control the cost of your energy and for generations to come.
Did you know a typical solar panels are highly reliable; they only degrades 0.5%/year in performance?
Doing the math. A 225 watt solar panel will be producing at 50% capacity 140 years from now, 7 generations, no moving parts, a legacy.
Solar panels increase home values
Homes with solar panels sold at a premium to comparable homes without solar systems over a nine-year time period, according to a new study by the U.S. Department of Energy’s Lawrence Berkeley National Laboratory.
The average premium for a home with solar panels, also called a photovoltaic energy system, was about $17,000 for a relatively new, average-sized system rated for 3,100 watts.
The premium translates to an average of $5.50 per watt of solar power with the range of results stretching from $3.90 per watt up to $6.40 per watt.
California is approaching close to 100,000 individual solar systems installed. About 90 percent of them are residential.
The study examined data from more than 72,000 homes that sold in California from 2000 through mid-2009. About 2,000 of the homes had solar panels at the time of sale.
The researchers stated that they controlled for a number of other factors that can affect the home price, including housing market fluctuations, neighborhood effects, the age of the home, and the size of the home and the parcel on which it was located.
The study also found that the age of the solar system had an effect on the premium: older solar systems brought in less of a premium.
In addition, the data indicated that existing homes with solar systems enjoyed more of a premium than new homes with similarly sized solar systems.
“One reason for the disparity between existing and new homes with PV might be that new home builders also gain value from PV as a market differentiator that speeds the home sales process, a factor not analyzed in the Berkeley Lab study,” says Berkeley Lab researcher and co-author Peter Cappers. “More research is warranted to better understand these and related impacts.”
Time Of Use Billing
Solar energy helps you take advantage of Time Of Use Billing to maximize your savings.
Time-of-use (TOU) pricing is a different billing method for electricity, where the customer pays based on the time of day of using electricity rather than a flat rate per kilowatt-hour consumed. The premise is that electricity is more expensive when in high demand (e.g. by air conditioners in the afternoon on hot, sunny days) and that pricing accordingly will help reduce demand.
This pricing scheme can act as an incentive to go solar, because solar panels tend to operate at their highest capacity during summer months.