Many people are interested in adding a solar power system to their home but are unsure of the cost and savings of solar power.
Here are answers to some of the most common questions we get regarding the cost and savings associated with solar power.
Will a solar power system benefit me?
It depends on what your goals are for going solar, but in the majority of cases, the answer is yes. We always start with a free, zero-obligation estimate to determine how much a solar power system will cost you based on your current energy use and the solar potential of your property.
We will work with you to determine the system that is best for you and how to meet your solar energy goals.
How much will a solar power system cost?
Every property is unique in its energy usage and solar potential, so the best way to find out how much a solar power system will cost is to request a free estimate.
The cost of a solar power system depends on several factors including:
current energy usage
how much energy you want to offset
available unshaded roof space
the size of your installation
the location of your property
available solar energy incentives
your utility’s net metering policy and other factors
Will a solar power system increase my property taxes?
In most areas, solar power will add value to your home with no increase to your property tax. In Indiana, the value added by installing solar power is exempt from property tax, and in Kentucky, any increase would apply only when you sell the home.
How much will solar power increase the value of my property?
Solar-powered homes appreciated 17%, and sold 20% faster on average than non-solar homes, according to a recent study by the National Renewable Energy Laboratory (NREL). In fact, a study in California estimated that purchasing a solar energy system could increase the resale value of your home by more than $5,000 per kilowatt added. The average residential system size is 3.1 kilowatt, so this amounts to an average price increase of $15,000. Returns will vary based on where you live and the size of your installation. Learn more about how to Increase Your Home Value with Solar power.
How much will I save with a solar power system?
Your savings depend upon your energy usage, the size of your solar energy system, and the tax credits and other benefits available. Solar power systems start paying for themselves immediately and savings increase each year as the cost of electricity rises. A typical return on investment for installing a solar power system is about 15-20%.
The current federal tax credit is 30% and Indiana and Kentucky both offer some net metering benefits. We will help you get the maximum savings when installing your solar power system!
How much will a solar power system lower my electricity bills?
It’s possible to dramatically lower or even completely eliminate your monthly energy bills. Imagine paying $0 in electricity charges to the utility company each month. While you will still have a monthly utility connection fee, many homeowners receive “negative” electricity bills by taking advantage of various solar incentives. Their solar panels don’t simply offer electricity savings – they actually generate passive income day after day.
Results will vary from season to season. Your solar power system will typically generate more energy in the summer than the winter. Excess energy created during the summer can be sold back to the utility company for credits that can be used in the winter when there is less consistent sun.
Start Saving with Solar Power
Not only will installing solar on your home save you money on energy costs for years to come, but it will also increase its value without raising your property taxes.
We will work hard to ensure that you get the largest possible return on your investment in a solar power system for your home. From tax incentives to grants to benefits like net metering, we will make sure that you save the maximum amount possible. You can get started today by requesting an estimate for a solar power installation on your home.
