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- Mar 22, 2014
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Hey Fastlaner, are you a homeowner in the US?
Have you ever noticed that your electricity bills keep steadily rising?
If you were given the chance to lock in your price for a gallon of gas 20+ years ago, back when it was less than a dollar per gallon, would you have taken advantage of that offer?
We can do the same for your electricity bill and lock in your price.
Solar has reached a point in time, where a combination of factors make it a no-brainer:
A decade ago, an average residential solar system could cost more than $50,000. Prices have dropped more than 70 percent in the past several years.
Should I get solar panels now or wait until prices drop further?
The main reason you might wait to go solar is because you expect solar panels to get cheaper. And yes, solar panels will get cheaper over time, but any further drop in prices will be relatively small.
We're now entering into the law of diminishing returns.
There is always some merit in waiting for costs to fall even further, but make sure you’re accounting for your opportunity costs too.
The sooner you install solar on your home or business, the sooner you’ll start offsetting your electricity bill and saving money.
Every month you wait is another month that you continue to pay the utility company instead of owning your power production.
And because the cost of solar has come down so much in the past decades, the cost of waiting may outweigh the cost of any future increases in efficiency or decreases in cost.
Go Solar Without Paying A Dime Out Of Your Pocket
There are essentially three ways of paying for your solar panels.
Buying your rooftop solar panel system outright is usually the best value. Even though your initial cost are higher, you can reap all of the financial benefits and savings associated with going solar (incentives, tax credits, and more).
Applying for a solar loan is the next best option when it comes to a return on investment. The payback period will ultimately depend on factors like the upfront cost, size, energy efficiency, and interest rates associated with your solar photovoltaic system. After that time period, you get to keep 100% of your energy savings.
You can lock in low monthly solar payments up to 50% less than your current electric bill, and start saving from day ONE!
Choosing to go with a solar lease or solar PPA may be something worth considering for certain homeowners as there is no upfront cost.
But being 100% transparent, the value is dampened by the solar companies who take out their cut of your savings through your monthly payments and you're not eligible for rebates & incentives.
By the end of your warranty period, the lease or PPA will have taken up more than half of your potential savings as profits for the solar installer.
I generally do not recommend this option.
Here's a table showcasing the different options:
Take Advantage Of Federal Solar Tax Credits and SRECs
The investment tax credit (ITC), also known as the federal solar tax credit, allows you to deduct 30 percent of the cost of installing a solar energy system from your federal taxes.
What this means is that it will cut the cost of installing rooftop solar by almost a third, which is roughly $7500 for an average system.
Another form of incentive are solar renewable energy credits (SRECs). They are a performance-based solar incentive that allows you to earn additional income from your solar electricity generation.
Truth be told - maybe.
Not every house is eligible for solar, not every person can benefit from the tax credit, not every roof is in the appropriate position.
That's the reason to schedule a quick 15 minute call with me.
If you own your home, your utility bills are higher than $120/month and you live in one of the following states highlighted in blue, there's a very high likelihood we can save you from $50.000 to $450.000.
During that call we will go through the following:
My intention is to see if solar is even an option. I don't operate under any pressure sales tactics, and there's zero obligation.
Would you be opposed to seeing if solar might be worth it to you?
If you wouldn't, then either:
If we determine that solar is a good fit for your house, the numbers make sense to you but for whatever reason solar still isn't a fit for you, I'll send you a pizza.
If you're a pepperoni guy, you got it. If you're more of a Hawaiian pizza kinda gal (pineapple should be illegal in pizza anyways but I'll respect that!), no problemo.
I mean it.
You've got tens to hundreds of thousands of dollars to win, and worst case scenario you're more educated on solar and you receive a free pizza sent straight to your house.
I don't work for a solar company, but rather have access to a variety of the best installers, the most resilient and efficient panels and the most flexible payment solutions.
And secondly, your name and reputation is all you've got. I've been a member of the forum for the past 8 years and have built solid relationships here. I will not risk it by going for a quick sale or providing subpar service.
P.S.: If you're curious, but don't want to schedule a call with me, send me a DM. We'll find a way that works for you
(Thank you @LightHouse for the idea, got this from your ad.)
Have you ever noticed that your electricity bills keep steadily rising?
If you were given the chance to lock in your price for a gallon of gas 20+ years ago, back when it was less than a dollar per gallon, would you have taken advantage of that offer?
We can do the same for your electricity bill and lock in your price.
Solar has reached a point in time, where a combination of factors make it a no-brainer:
- The price of solar panels has decreased by 89% since 2010
- You can go solar without paying a dime out of your pocket and start receiving a returns on your investment in day one
- The US has a 30% federal tax credit for homeowners, which means you get to keep an extra $7000 on average in your pocket this year instead of handing it over to the Feds
A decade ago, an average residential solar system could cost more than $50,000. Prices have dropped more than 70 percent in the past several years.
Should I get solar panels now or wait until prices drop further?
The main reason you might wait to go solar is because you expect solar panels to get cheaper. And yes, solar panels will get cheaper over time, but any further drop in prices will be relatively small.
We're now entering into the law of diminishing returns.
There is always some merit in waiting for costs to fall even further, but make sure you’re accounting for your opportunity costs too.
The sooner you install solar on your home or business, the sooner you’ll start offsetting your electricity bill and saving money.
Every month you wait is another month that you continue to pay the utility company instead of owning your power production.
And because the cost of solar has come down so much in the past decades, the cost of waiting may outweigh the cost of any future increases in efficiency or decreases in cost.
Go Solar Without Paying A Dime Out Of Your Pocket
There are essentially three ways of paying for your solar panels.
1. Cash purchase
Buying your rooftop solar panel system outright is usually the best value. Even though your initial cost are higher, you can reap all of the financial benefits and savings associated with going solar (incentives, tax credits, and more).
2. Personal loan
Applying for a solar loan is the next best option when it comes to a return on investment. The payback period will ultimately depend on factors like the upfront cost, size, energy efficiency, and interest rates associated with your solar photovoltaic system. After that time period, you get to keep 100% of your energy savings.
You can lock in low monthly solar payments up to 50% less than your current electric bill, and start saving from day ONE!
3. Solar leases and PPAs (Power Purchase Agreement)
Choosing to go with a solar lease or solar PPA may be something worth considering for certain homeowners as there is no upfront cost.
But being 100% transparent, the value is dampened by the solar companies who take out their cut of your savings through your monthly payments and you're not eligible for rebates & incentives.
By the end of your warranty period, the lease or PPA will have taken up more than half of your potential savings as profits for the solar installer.
I generally do not recommend this option.
Here's a table showcasing the different options:
Take Advantage Of Federal Solar Tax Credits and SRECs
The investment tax credit (ITC), also known as the federal solar tax credit, allows you to deduct 30 percent of the cost of installing a solar energy system from your federal taxes.
What this means is that it will cut the cost of installing rooftop solar by almost a third, which is roughly $7500 for an average system.
Another form of incentive are solar renewable energy credits (SRECs). They are a performance-based solar incentive that allows you to earn additional income from your solar electricity generation.
The Big Question - Is Solar Worth It For Me?
Truth be told - maybe.
Not every house is eligible for solar, not every person can benefit from the tax credit, not every roof is in the appropriate position.
That's the reason to schedule a quick 15 minute call with me.
If you own your home, your utility bills are higher than $120/month and you live in one of the following states highlighted in blue, there's a very high likelihood we can save you from $50.000 to $450.000.
During that call we will go through the following:
- What is the amount of energy you use per year? This will determine the size and cost of your system.
- What is the amount you pay for a Kilowatt Hour? This will determine if going solar even makes sense in your situation.
- How is the roof and area around your home? This will determine where the panels should be placed and if there's any reason your home isn't eligible for solar. Of 130 million single family homes in the US, about 40 million of them aren't suited for solar. If your home is one of them, I don't want to waste your time.
My intention is to see if solar is even an option. I don't operate under any pressure sales tactics, and there's zero obligation.
Would you be opposed to seeing if solar might be worth it to you?
If you wouldn't, then either:
- Schedule a quick 15 min call with me
- Call or text me directly at (716) 539-9211
- Send me a DM on the forum
If we determine that solar is a good fit for your house, the numbers make sense to you but for whatever reason solar still isn't a fit for you, I'll send you a pizza.
If you're a pepperoni guy, you got it. If you're more of a Hawaiian pizza kinda gal (pineapple should be illegal in pizza anyways but I'll respect that!), no problemo.
I mean it.
You've got tens to hundreds of thousands of dollars to win, and worst case scenario you're more educated on solar and you receive a free pizza sent straight to your house.
I don't work for a solar company, but rather have access to a variety of the best installers, the most resilient and efficient panels and the most flexible payment solutions.
And secondly, your name and reputation is all you've got. I've been a member of the forum for the past 8 years and have built solid relationships here. I will not risk it by going for a quick sale or providing subpar service.
P.S.: If you're curious, but don't want to schedule a call with me, send me a DM. We'll find a way that works for you
(Thank you @LightHouse for the idea, got this from your ad.)
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