Should you switch to solar power?
I asked Nick Tedesco, the CEO of Solar Power Now, to explain how solar power can save you money on your electricity bill over time.
If you own your own home, you have an enormous financial opportunity.
You can choose to be a power producer instead of a consumer of electricity. How? by making a switch to solar power. Installing solar panels will save you thousands of dollars over decades of energy use.
Residential solar power is now much cheaper than conventional energy over the long term. The average American pays approximately 12 cents per kilowatt hour for electricity. If you live in Hawaii, California, New York and New Jersey, you may be paying as much as 20 to 30 cents per kilowatt hour or more. Whether you pay 12 cents, 20 cents or something in between, you’re wasting money. That’s because the cost for solar power over the useful life of a solar panel system is only 8 cents per kilowatt hour.
Paying 8 cents per kilowatt hour instead of, say, 16 cents per kilowatt hour over a 20-year period is the difference between paying $15,000 and $30,000 for electricity during that same timeframe.
Let’s consider another viewpoint. Millions of American homeowners pay an average of approximately $150 per month throughout the year for electricity. A homeowner can now get financing to purchase a solar panel system and have a monthly payment for that system that would also be close to $150. After about 7 years, the solar panel system will be paid off; the electricity generated after this 7-year period can then be considered free. So: pay $150 a month for ever – or just for 7 years?
There is a reason why every 3 minutes, we see another solar installation completed in America: because it saves money, while helping the planet, too. Many homeowners are working with small local companies that can help homeowners figure out what solar array works best for them, then figure out financing that makes the system affordable on the front end and very economical over time.
Nick Tedesco represents smaller, more affordable solar installers across America. Learn more about affordable residential solar power at Solar Power Now and get connected to a trusted solar contractor.
This is a sponsored post.