1. The 30% tax credit
The Solar Investment Tax Credit (ITC) is the Federal Government’s way to encourage the adoption of solar across the United States by “refunding” 30% of the total solar project cost as a tax credit. It was extended in 2016 for a few more years.
2. Begin saving money immediately
Solar is hands down a great deal. Even without incentives, solar pays for itself over time and is a great investment; the sooner you go solar, the sooner you’ll start to save money! Just imagine heating up your morning coffee with a brewer powered by solar panels on your roof.
3. Lock in a low electricity rate for loan term… generate free electricity after…
The vast majority of people who finance solar save money immediately – meaning their new monthly solar payment and remaining PG&E bill is less than their PG&E bill before solar. Once your system is paid off you will have never have to pay for electricity.
Let’s look at some numbers:
Before solar, let’s say you paid $120/mo for your electricity. Now, solar provides all your electricity but you still pay $120/mo for the solar loan payment and the remaining costs from PG&E for electricity (meter fee, taxes, and any extra electricity you may need that your solar isn’t providing).
You might say, “I am still paying the same amount. What gives! How is solar a better deal than before?” Well, there are two simple reasons that it is still a much better deal:
PG&E continues to raise costs and you lock in a low, fixed monthly bill with solar.
Before you had solar, your electricity rates would continue to rise every single year! Historic averages in PG&E territory have been above 6% annually. That same $120/mo electricity bill would be $485/mo in twenty years!
After you get solar your electricity “costs” are primarily the loan payment which is fixed. Only the remaining costs from PG&E will continue to rise but will be minimal since you are producing your own power.
NO monthly payments for your own power plant once the loan is paid off!
Because your solar system is producing electricity, once you pay off the loan, you are now generating electricity for the entire life of your solar system.
That’s a whole lot of years of free electricity!
4. With no moving parts, solar panels have a long life of 40 years!
Solar panels are made to be incredibly durable. That means you can safely expect them to last for 30–40 years.
Once you pay off the loan… you’ll be generating electricity, for free, for decades.
That is a massive amount of savings when you consider the cost of electricity increases around 6% every year.
5. Raise your home value!
Studies show that purchasing solar (not leasing!) typically increases your home’s value by around $4.00/watt.
If a homeowner decided to purchase a typical solar system of 4 kilowatts, they could expect their home value to increase by $16,000.
Homes with solar are also more appealing on the housing market.
Why? It’s simple.
When you buy a home with solar, you know that you won’t have to pay nearly as much to power that home. Reduced cost to power the home means the home will sell more quickly with solar.
6. Solar is an investment vehicle with a great return.
Is solar a good place to put your money?
Let’s view solar as if it were a stock that we could invest in:
- Very high internal rate of returns (IRR) of 10–18% each year.
- Consistent stock price that only goes up.
- Protection from market downturns
Regardless of your investment strategy, that is the type of stock I am sure you would want in your portfolio!
7. Your solar investment is guaranteed with a warranty.
There is another reason solar is excellent as an investment:
Imagine that you purchased a large amount of stock from a particular company. The warranty on your solar equipment is akin to that company promising you that your investment will never lose value.
“You mean that if stock prices go down, you’ll pay me to make up the difference?”
That might sound ridiculous, but it’s true. During the 25 year warranty, your solar system’s production is guaranteed. (Note: Guarantees vary by solar manufacturer. Allterra Solar uses quality solar equipment with great warranty coverage to ensure homeowners have long-term energy production and savings.)
8. Help create jobs in your local community.
Want to know a way you can become a job creator right now?
Invest in solar!
Solar energy has been one of the largest job creators in the US over the last few years. In fact, as an industry, solar energy is creating jobs at a rate 10x the overall economy. Clean energy means good jobs for many people.
9. Take a stand for a cleaner, smarter future.
The last and arguably most important reason you should go solar is that it’s the right thing to do. The era of burning dirty fossil fuels and demolishing mountainsides to mine for coal are over. It’s time to stop damaging the environment and work towards a future where burning stuff for electricity is a thing of the past.
As more people start to produce their own electricity with solar, it sends a clear message to energy companies that it is time to change. By investing in solar, you are doing your part to help humanity create a healthier and more sustainable Earth for future generations.
To get started, give Allterra Solar a call at (831) 425-2608.