Dramatically Reduce Your Utility Bill
When you begin to generate your own solar power, your utility bill can drop significantly. How much you can save will depend on the size of your solar system and your family's electricity usage. You will still draw some power from the utility grid, but at a lower-priced rate tier. SolarCity will design a system that's right for your home and determine the optimal utility rate structure for your remaining energy needs.
Sell Excess Power to the Utility Company
When your solar system generates more electricity than your home can immediately use, your excess power flows back to the utility grid and your meter literally spins backward! Most utility companies will pay or credit you for this electricity.
Your solar system produces the most electricity during the middle of the day, during "peak" hours when the utility rates are at their highest. This is to your advantage, because you can sell excess electricity at high peak rates in the afternoon, and buy electricity back at lower "off-peak" rates at night. You buy low and sell high! This is referred to as "net metering" and can reduce your utility bill even further.
Protect Yourself from Rising Energy Prices
Residential utility companies are dependent on fossil fuels such as oil, coal and natural gas, which are vulnerable to volatile foreign markets.
When you switch to solar power, you are hedging against rising utility rates. You can lock in low, predictable electricity costs for years into the future. As utility rates continue to rise, your savings can grow every year.
Save with a Solar Energy Plan
Solar power can cost less than power from the utility company. Plus, SolarCity offers flexible energy plans so you can save right away. With a SolarLease or SolarPPA, you can go solar for as little as $0 down or you can prepay for some of your electricity in advance to lower your ongoing monthly payments. You can also fully prepay your solar electricity so that you do not have to any ongoing monthly bills.
Solar systems have no moving parts, so there is very little ongoing maintenance required. SolarCity solar panels carry extensive warranties and are exceptionally well made so that you don't have to worry about spending money on system maintenance. With SolarCity's energy plans like SolarLease and SolarPPA, repairs and maintenance are included as part of the service.
Data Source: Energy Information Administration