Imagine a bill for $4. Imagine receiving this low of an account amid this scorching summer. Imagine getting an account so low due to this scorching heat.
It’s not a secret that the blazing Texas summers have changed how people think about solar power. The hotter it gets, the more our air conditioners feel like life support devices. Business owners and homeowners run through their energy bills because they don’t have the money to increase their bills.
Solar can change the game; most homeowners can manage it with the money they pay for electric power.
In most instances, people benefit from solar power after financing the expense of building an entirely modern solar array. Additionally, storage and solar systems are getting more affordable and reliable, while the traditional power systems of the 20th century are only becoming more costly and brittle.
Each building and home is unique (with different sizes of roofs and tree covers), so it is necessary to estimate savings on a case-by-case basis following in-person discussions with owners of businesses and homes.
Today, I will show you how cost-saving and financing options resulted in a specific homeowner. I’m not going to reveal her name, of course, but the numbers are straight out of the real-world plan we devised for her. It’s an excellent illustration of our clients’ peace in the summer. Sure, it’s miserable; however, they’re earning money from it.
When she contacted us, the homeowner’s monthly electricity bill was 137 dollars. She was looking for solar power to cover most of it but didn’t want to produce more energy than she required.
We calculated that the new solar system designed for her home could reduce her monthly energy bill to just $4.
Yes, it is. You can pay a $4 electricity bill. In the long duration of the system, she could have saved at most 54,000 dollars in power costs.
The whole system, solar panels, installation fees, electrical work, and all the rest cost $23,000. It’s not a tiny amount, for sure. However, the recently extended Federal tax credits and other rebates decreased, which cost more than 40%, dropping to $13,000.
Convert it into a 15-year mortgage with a rate of 5, and the monthly payments are under $105.
It’s $105 for the whole duration of the loan and doesn’t increase or decrease, and then it ceases to exist after a time. As of now, the rise in the grid’s issues, inflation, and the fluctuation of gas prices have pushed up the price of electricity. Solar panels can also add value to your home, which means you’re likely to be able to recoup the cost of your investment should you decide to sell. Also, batteries keep your lighting, fridge cool, and air conditioning running when power is cut.
The majority of people think of summer heat as a source of suffering. I understand that, and I’m guilty of it, too. My home has been Austin throughout my entire life, and I’m still miserable at this season.
However, it’s all about cash. You’re living in extremely high temperatures. You shouldn’t be paying ridiculously high costs, too.
If people make investments in solar energy, they can save money.