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You Don’t Have To Risk It, Go Solar And Save Money

Ean GoodguyOctober 3, 2018 843 0

You Don’t Have To Risk It, Go Solar And Save Money

Let's face it, and some people are risk takers.  Some people have a great time climbing statue's faces, and some love jumping off the sides of UFOs into shallow ocean lagoons. Some people like to put on blindfolds on the sandy shores of the dead sea, and allow people to stuff exotic, subtly toxic foods into their mouths. Some people are risky in other ways,  bet on sports, day trade, and invest in companies that make avocado wine.  In the world of finance, it's true that the higher the risk, the higher the reward.  However, one way to get a decent return on your investment is to be smart.  Real smart, haha, smart.  Some might say, "be smart like a Todd."  Todds is in fact, the smartest of all. How many Todds do you know?  Anyway, a smart investment is adding solar to our business or residence.  Now, you may be asking yourself, what would my ROI look like on a solar panel system. Several factors, such as the land or space available for infrastructure, place, and amount of solar radiation per year. If roof space is insufficient, mono solar panels might offer customers the maximum output. If the planned area is sufficient for poly panels, you could experience the same production as the mono panels, at a savings of 10 to 20%.

Did You Research Your Solar Options?

If you have been researching the solar panel subject matter, then you probably know that the cost of solar panels is calculated using dollars per watt.  So far this year the average cost is between $2.87 and $3.85 per watt. Without additional incentives and tax breaks, the total price of solar panels averages to $16,800. Based on the national average of 5 kilowatts (kW) per household, solar panels cost from $10,045 to $13,475 after tax breaks are subtracted from the total.

Tax Rebates For Solar

Opportunities for households to take advantage of solar energy can come with state and company offered incentives and rebates.  An example is the Solar Investment Tax Credit (ITC) which allows homeowners to earn a 30% tax credit for the acquisition and installation of solar panels by 2020.

 

The long-term value of a solar installation is primarily based on the type of financing deal you have entered with your solar provider.  Paying cash for your solar panels can yield the best ROI.  Sometimes, with a $0-down solar loan, you could claim savings of $10,000. Solar leases or power purchase agreements (PPAs) offer much lower savings—between 10 and 30% of the average household’s electric bill.

If you know you are going to be spending a long time living in the home or occupying the business targeted for the solar panel installation, these savings can really land down the road.  This is an investment that can yield returns, but depending on the financing deal, it can be a shorter return or a long recovery. In most cases, a solar panel system hits its break-even point within eight years. If the would-be solar panel customer purchased mono or poly panels with a 25-year lifespan, they could experience 17 years of cost savings on electric costs.

If you want to move into the future and join the solar revolution, or if you want to find out what solar panels are right for you, go to HahaSmart.com and try our price checker tool. You can see how much a system will cost, and how much you can save over the next 20 years.

For more information relating to going solar, don't forget to visit our solar blog section for more handy guides and articles.

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Input your address to see if it is solar friendly and how much you can save with solar.

Great. Your address is perfect for solar. Solar incentive is still available. Select monthly utility cost and calculate the size of solar system you will need now.

Whoa ! Going solar is definitely a smart decision.

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