Is Solar Really Worth It?

| 5/20/2016 10:37:00 AM

Tags: solar power, home energy, Vikram Aggarwal, Massachusetts,

is solar worth it

Every solar company has a variation of the same sales pitch, “did you know going solar can save thousands of dollars?” They make it sound so easy, but the truth is, whether solar is a smart long-term investment for you depends on a few major factors. So before you buy into the hype, we recommend you use this simple guide to cut through the sales jargon. 

How to Determine Whether Solar Is Right for You

As you start exploring your solar options, there are a few questions you can ask to help determine whether solar makes sense, including:

How Much Do You Pay for Electricity?

Your current electricity bill is the largest factor in determining how much you’ll save by installing solar. You pay your utility company for every kilowatt-hour (kWh) of electricity you use, and your rate varies significantly depending on where you live. In some parts of the country, you can pay as little as 8 cents per kWh; in others, you’ll pay 20 cents or more.

When you go solar, you effectively install a mini power plant on your roof to replace the power plant where your utility gets its electricity. That means homeowners with high electricity rates from their utility are the ones who save the most when they switch to home solar power. 

If you’re just getting started and aren’t sure how much solar can save you, start out by using an online Solar Calculator. EnergySage’s calculator incorporates local electricity rate data to give you a customized estimate of what you can expect to save, and just how quickly your investment will pay off.

5/21/2016 3:38:05 PM

This Calculator was very useful, it reminds me of the "mortgage calculators" we used before buying our home. Unfortunately it told me "Your roof may not be ideal for solar" due to shading issues over my roof, but I believe with some minor tree trimming we would be a great fit for solar!

5/20/2016 4:13:38 PM

I find it interesting that I tried three (3) different addresses (two in the southeast and one in the north) and all three said "Congratulations! You can do well and have a payback in 14 or 15 years!" using the Solar Energy Calculator link above. Seems a little suspect....

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