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October 15, 2018
When you consider installing a solar photovoltaic (PV) system on your home, you probably think about the immediate benefits, such as lower utility bills, greater energy independence, and a reduced carbon footprint. But have you thought about how going solar can actually be a wise investment? Like any financial investment you might make, investing in a solar PV system for your home can can yield a rate of return better than most any other investment option… 15% - 22% and it’s TAX FREE! (after-tax $ are used to pay your electric bill).
Take Advantage of Tax Incentives
How many investments do you know of that offer a 30% federal tax credit? Currently, homeowners can reduce their federal taxes by 30% of the cost of installing a solar PV system. That’s right, the US Government covers 30% of the cost of the system.
Lower your Electric Bill
Electric bills are a recurring expense for just about everyone, and they can eat up a significant portion of your budget. We pay some of the highest rates for electricity in the country and we get more sunshine than most areas of the country. The more you use, the higher the rate… and we use a lot staying cool in the Tri-Valley’s hot summer months. A solar PV system allows you to dramatically lower or even eliminate your electric bill, simplifying your finances and leaving you with extra cash that you can invest elsewhere.
Stay Protected from Increases in Electricity Costs
For most Tri-Valley homeowners, rising electricity expenses have been the norm for as long as we can remember... and they only continue to go up!
With external factors influencing the cost of electricity, it makes sense to invest in something that will shield you from unexpected spikes in electricity costs. Going solar grants you greater energy independence, protecting you from the rising electricity costs.
Solar is Low Risk
Like all investment decisions, risk is a factor. The higher the risk, then higher the required rate of return. Solar is low risk. Most solar panels come with a comprehensive 25 year warranty (assuming you are working with a company that will be around to honor their warranty). There are no moving parts… it wakes up with the sun and shuts down when the sun goes down… day after day. The sun shines very predictably in this area, meaning you can count on the system to produce throughout the year, year after year.
Make an Investment in the Environment
A solar PV system allows you to generate your own electricity in a clean and sustainable way. When you consider the fact that electricity generation is the single largest source of carbon emissions, going solar means you can take part in a movement that can have a major impact on the environment. Your solar system is also an investment in the environment and the future generations who will occupy it.
What will an investment in solar do for you and your family? Call the experts at Sky Power Solar at (925) 357-9637 or contact us for a free solar quote today!
As your local SunPower Elite Dealer in the East Bay, we're proud to offer you solar panels with the highest efficiency in the industry.