Save Money
After years of being frustrated by electrical bills, not to mention continually rising energy costs, there is no better time to save money.
Solar electricity is affordable and will give you a return on your dollars unmatched by conventional investments.
Upfront costs are reduced by 50% or greater:
- FITC - The Federal Investment Tax Credit provides a 30% reduction in the initial cost of a solar electric system.
- State Incentives - Depending on your state, local programs can reduce the cost by an additional 20-40%. For example, the PA Sunshine Solar Program will rebate you $2.25 per watt, which can equate to approximately 25-35% of your system's cost.
- Visit www.dsireusa.org to find local incentives in your area.
Ongoing costs will be reduced even further:
- Monthly electric bills - Depending on the size of the system, your monthly electric bill will be cut by 25% to 75%.
- Annual rate hikes - You will be shielded from annual rate hikes, which have averaged 5% nationally and in PA are expected to rise 30% in 2010 due to the removal of rate caps.
- Net Metering - Net metering, in which electricity produced in excess of what you use during the day is sent back to the grid, saves you money by allowing excess generation to be carried forward and credited to your next bill over a 12-month period. You are given full retail value for the excess electricity produced.
- SREC's - Solar Renewable Energy Credits (SRECs) are units of solar power equal to 1 megaWatt-hour of electricity that can be sold and traded. The income from these SRECs can provide a large financial benefit on the open market.
