Welcome to 2020! Hopefully the holidays were successful and you’re ready to tackle the new decade like never before. Here at Solar Brothers, we are excited to welcome new customers to our family and with that, bring honesty and truth to families and businesses about the costs of going solar.
ITC Has Stepped Down
Now that we are in 2020, the long running ITC or otherwise known Investment Tax Credit has finally taken its first step down. When getting a solar system, the government will now give you a 26% tax credit on your income taxes at the end of the year because you bought solar. Yes it’s less than the 30% last year, and you might be a little disappointed by that, but let’s look at the solar panel installation cost closer.
What is the Real Cost of Not Going Solar
Home solar systems have more value than what is initially seen at purchase. What we mean by this is the future cost of electricity can now be avoided because you have solar. Solar panel installation costs are extremely affordable to you because the utility companies are making it affordable. Year after year, the utility companies are increasing their rates and making it harder for families to keep their lights on.
On average, a utility company will increase their rate by 4% every year. This has been the national average for over a decade and isn’t likely to change. Think about this like your car. Imagine if you could lock in your price for fuel 20 years ago. In 2000 the price of gasoline was $1.51, nearly half of what it is today. If you’re in California, it’s more than half. Now imagine if you could still be paying only $1.51 today and for the next 20 years? That’s what happens when you get a solar system. Your home solar system is more valuable than the purchase price because after the system is paid, you get to have free electricity. You paid for your future electricity cost at the cost of what it is today.
Simply put, it’s not the solar panel installation cost that is most important when looking at solar in 2020, it’s the avoided future cost of electricity. Your average system will save you more than $18,000 dollars by avoiding future electricity increases. Your system might save you more depending on size and state. This also doesn’t include the increase in home value, which averages about $28,000. All in, the average savings drastically outweighs the cost of the system. Oh, and this doesn’t include the $0 out of pocket down for your solar system.
Find Out Your Costs
Simply put, even if your system costs you slightly more to get it installed, the overall value from savings and equity will win. What is great with Solar Brothers, we give you the facts. We look at your solar panel installation cost and the lifetime savings and give you all the hard numbers. We want you to be informed and confident in your purchase. That’s why we team up with the best installers, the best service plans and the best financiers in the nation. We take all the guesswork out of your home solar system cost and give you the brass tacks.
Don’t dwell on not having pulled the trigger on your solar system, there’s still savings to be had…give us a call or book an appointment and we will show you the savings.