Lydia and Nick were paying upwards of $231 per month for electricity before going solar. Their 24 panel solar system offset their electricity bills, and reliance on fossil fuels, by 96%. With an annual clean energy production of 10521 kWh, they will see immediate utility savings and build a cleaner energy infrastructure for their home and our planet. Now they are able to see savings upwards of $150,000 over 25 years!
This 4.02 kW solar panel system will generate approximately 6,163 kWh per year. Greg was initially dependent on 576 kWh/month from PG&E, but will now generate more than 510 kWh on his own! This relieves Greg’s dependency, from PG&E to only about 7% of his monthly electric usage.
Potential Tax Credit:
10,521 kWh per year
This is the equivalent to 18,507 miles driven by an average passenger vehicle!
By going solar, homeowners are able to take advantage of several incentives which can lower the cost of installing their solar panel system. Some of these incentives include reducing their electric bill, reducing their carbon footprint, and reducing their system cost with the federal solar tax credit. The federal tax credit is the most popular incentive to going solar, as it dramatically reduces the overall cost of solar, and helps contribute to a shorter payback period.
Homeowners can see an immediate increase in their property’s value after their solar installation. This is usually seen as an increase of $6,000 x kW (size of the system). After going solar, Lydia and Nick are able to see an increase of $42,000 on top of their homes original value, more than doubling their total investment!
The initial investment for solar may seem daunting to some, but after careful planning and installation, Lydia and Nick were able to cover 96% of their electrical usage, saving them $231.75 every month! That’s $2,781 a year!