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Solar energy investment

Is solar power less expensive than energy from my utility company?

Solar power often costs less than traditional power from the utility company. When homeowners ask themselves if solar panels are worth it, the increasing cost for electricity is often what drives them to explore clean, renewable solar energy. What they find is that installing a solar panel system is a relatively simple way to take control of affordable energy rates over time. When electricity rates associated with fossil fuels – oil, coal and natural gas – inevitably go up, the solar power savings increase too.

You can lower your energy costs when you buy or lease solar panels, but many homeowners find that leasing is the better option. With a solar lease, the benefits – including savings – kick in as soon as the newly installed solar panel system is switched on. If you’d rather not think about monthly bills, you can prepay some or all of your solar electricity rates. For customers who are able to invest and buy a solar energy system outright, there may be no bills at all. In some cases, utility companies may even credit you for the excess electricity your solar panel system generates.

How much money you save will depend on the size of your solar energy system, household electricity usage and whether you chose to lease or buy your solar panels. That’s why our highly trained solar energy advisers will complete a thorough no-obligation evaluation of your energy needs and goals to be sure you’re getting the right solar panel system.

Are solar panels worth the investment?

Yes, installing a solar energy system on your roof is absolutely a good investment. While specific returns will depend on your household’s average power consumption, it is now possible to switch to clean, renewable solar energy for $0 down or at no upfront cost for SolarCity leasing programs. The price to invest and buy solar panels is lower than ever before and federal tax credits may cover up to 30 percent of the cost of a solar system. Depending on where you live, there may be other local and utility rebates that bring down the price even further. Most customers who buy a solar panel system typically see a return on their investment in less than 10 years.

If cost isn’t one of your main concerns, solar power is still a reliable, safe and eco-friendly choice. The expected useful life of a solar panel system is 30+ years and most systems require little to no maintenance. Switching to solar power lets you take control of low affordable energy rates – a perfect hedge against dwindling fossil fuel supplies.

You can make the most of your solar energy investment by partnering with a full-service company that features highly trained in-house specialists. SolarCity is equipped to handle financing, solar panel design, permits, installation and monitoring. There is never a need to work with a third party for purchasing or upkeep. There are no surprise costs to devalue your investment because we are here for you before, during and even after your solar panel installation. If the need for repairs arises, our 24/7 solar system monitoring technology will let us know so we can take care of any issues as soon as possible.

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