Switching to solar energy offers numerous benefits to homeowners. Some do it for environmental benefits, while some wish to maximize their energy savings. Either way, going solar is a sound choice both from an environmental and a financial standpoint. Apart from the fact that Texas will benefit from higher solar capacity and lower greenhouse gas emissions, the savings and tax incentives are clearly worth mentioning.
Calculating Your Savings
Financial benefits vary depending on how you are paying for your solar power system. With a solar lease or power purchase agreement (PPA), you can get a system installed and running without paying upfront costs. With a solar lease, your tax incentives will cover the cost of maintenance throughout the duration of your contract. Thus, your provider takes the burden out of performing regular maintenance tasks.
By buying a system outright, you will enjoy no energy bills, and may even receive credits from utility companies if you sell them the excess energy that your system generates. You’re in charge of your own system, from regular cleaning to major repairs, but the state and federal rebates will offset that cost.
How much savings you’ll get from your solar power system depends on many factors, including the size of your home and family, how much energy you consume, as well as a combination of environmental factors. Your area’s zoning and net metering policies and regulatory environment may also increase your solar potential and savings.
Maximizing Your Financial Returns
In solar-friendly cities, such as San Antonio, it only takes 5 to 10 years before your monthly savings meet the total cost of your system. After which time, you will start making more savings and begin maximizing your returns. Likewise, the market value of your home will have also increased. Plus, it will only take a year after having the system installed for you to enjoy the financial benefits of tax credits and rebates.
Discuss your financial goals with us and we’ll tell you how much money you’ll save from your solar panel installation in San Antonio. Get in touch with Solar Electric Texas today.