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Solar today is more affordable than ever. Not only are panels becoming more cost-effective, but the federal government provides a tax credit based on the cost of your system that saves you cash on your taxes.
Owning your own system brings you the greatest savings, with a significantly higher return on investment than other options such as solar power purchase or a solar lease. You can experience returns on your investment of up to 30% per year over the life of your system. Where can you see those types of returns today?
There are many factors that help you save money with solar. Here's a breakdown of why solar is such an attractive investment.
If you have an electricity bill of $250 / month now, you are paying $3,000 / year for electricity. That $3,000 is gone at the end of the year, it is not an investment. Even with no rate electric rate increases over the next 30 years, which is the expected life of a solar PV system, you will have paid $90,000 for electricity.
But electric rates continue to rise each year. PG&E rates have gone up an average of 6.7%/year over the last 30 years. And with oil and gas supplies diminishing and demand increasing due to industrialization in China and India, rates will continue to rise. So over the 25+ year expected life of your solar photovoltaic system, your savings will only increase.
Solar provides significant savings on your electric bill, and reduces the overall energy costs of your house. If you look to sell your house, a SunStar photovoltaic system increases the value of your house as the future owners will experience the same energy savings as you.
A SunStar photovoltaic system has a life span of 25+ years, ensuring you experience returns on your investment throughout that entire period.