The cost of solar panels for your home is extremely affordable. Every project is different, but on average, buying a kilowatt hour of energy from your utility company is about 12 cents. Buying solar to produce that same kilowatt hour for your home is between 5-7 cents. This means if you are still buying energy from your utility, you are paying over twice as much as you should! The financing options available allow you to take advantage of these benefits $0 down today! Click here to get in touch with a representative to learn more.
When thinking about solar as an investment for your home, one of the key questions that comes up is: “How does an investment in solar energy compare to other investments I can make, like my 401k?” Great question. First, solar has a guaranteed return. You are guaranteed to pay for electricity, and the system is warrantied for 25 years. You can’t get that from any traditional investment vehicle other than low returning bonds. Second, the typical annual return is 9%. So, there is essentially a guaranteed 9% return. That is better than any other 20+ year investment available today!
Paying your electric bill does not increase the value of your home. You are paying 100% interest on kilowatt hours and seeing no return. With solar, you will see an additional $3-4 per watt value added to your property. This means that for every $1 you spend on solar, you will see about $1.85 in returned value. No other investment gives you that kind of return, or pays you back monthly.
Through 2019, the federal government is offering a 30% rebate on the total cost of a solar install. This is a huge help to many of our homeowners and makes it very affordable. The main incentive in Ohio is of course Net Metering (process explained below). State and local incentives include may also be included, such as a property tax freeze in Ohio, Indiana, and Kentucky.
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