Imagine receiving an electricity bill for just $4, even in the heat of summer. For many homeowners in Texas, this is becoming a reality as they consider solar energy.
As temperatures rise, air conditioning becomes even more critical. Homeowners grapple with skyrocketing electricity costs just to maintain a comfortable environment, prompting many to evaluate solar power as a viable solution.
The great news is that solar energy can significantly change this equation—most homeowners can afford solar systems at a comparable or even lower cost than their current electricity expenses.
Typically, homeowners save money with solar, even after accounting for financing a new solar system. Additionally, the prices of solar technology and energy storage systems are dropping while traditional power sources become more expensive and unreliable.
Every home is unique, featuring different roof sizes, shading from trees, and other characteristics. To accurately assess potential savings, we conduct in-person consultations with homeowners and businesses.
To provide an example, let’s take a look at a real-life case. While I won’t reveal her identity, the figures come from an actual proposal we prepared for a client, showcasing how our customers can enjoy financial relief during the summer heat while also maximizing their comfort.
When this homeowner reached out, her average monthly electricity bill was $137. She sought a solar system that would nearly eliminate her bill without generating excess electricity.
We tailored a solar system for her home that would reduce her monthly power bill to just $4.
Indeed, a four-dollar electric bill. Over the lifespan of the system, which is around 25 years, she stands to save at least $54,000 on electricity costs.
The complete setup—including solar panels, installation, electrical work, and associated costs—totaled $23,000. While this may seem like a significant initial investment, the recently extended federal tax credit and available rebates brought that cost down by over 40%, reducing it to $13,000.
Financed over 15 years at a 5% interest rate, her monthly payment comes in at under $105.
One of the significant advantages is that this payment remains fixed throughout the loan period and will eventually be paid off entirely. Additionally, with rising inflation, unstable grid conditions, and fluctuating gas prices continually driving up traditional electricity costs, investing in solar becomes even more appealing. Plus, installing solar panels can increase the value of her home, making it likely she will recoup her investment if she decides to sell. Moreover, adding a battery storage system allows her to keep essential appliances running during power outages.
Many people view the summer heat as merely a discomfort, and I can relate; I’ve lived in Austin my entire life. However, it’s equally a financial matter. With temperatures soaring, there’s no need to add the stress of exorbitant electricity bills.
Investing in solar energy can lead to significant savings. Isn’t it time to consider making that switch?