Solar Electricity is Affordable
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 up to 50%:
Federal Investment Tax Credit (FITC)
The Federal Investment Tax Credit provides a 30% reduction in the initial cost of a solar electric system.
The California Solar Initiative rebates have been dropping rapidly. Fortunately, however, module prices have also dropped and creating a great time to invest in solar electricity. Solar rebates will cover between 10% and 15% of the total system cost. If this is added to the 30% tax credit, a customer can save up to 45% of the total system cost. Visit www.dsireusa.org to find local incentives in your area.
Overall, Solar in the California market is now a better investment than anything including real estate, bonds, stocks, commodities or cash due to the fact that the volatility is low and the long term yield is high.
Ongoing costs will be reduced even further by:
- Monthly electric bills – Depending on the size of the system, your monthly electric bill will be cut up to 95%.
- Annual rate hikes – You will be shielded from annual rate hikes, which have averaged 7%
- 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.