The initial outlay to have a residential solar system installed may seem extreme, but the cost savings in the long run will mean that you can quickly recoup the initial costs as well as save money on your monthly power bill.
There are a number of ways in which this cost saving is achieved.
1. Government Incentives And Programs
Before you install a solar system in your home, call your local city council and find out more about the incentive schemes and programs they have in place. Due to the huge strain on local power grids and an effort to encourage the public to be more environmentally friendly, there are a number of ways in which you can save money on installing a solar system.
Incentives provide you with a discount on a solar system and can have additional tax breaks. Some states also offer installment plans with zero down payment to make the conversion to solar energy more affordable for everyone. To learn more, you can find information about your specific state on energy.gov/savings. Also, you may be eligible for other solar tax credits as well.
2. Your Power Bill
Depending on the type of solar system you have installed, you can save on your monthly power costs or eliminate them entirely. Going totally off the grid is more expensive and requires a more complicated system, but it means that you may never have to pay for your electricity again.
If you just install a partial system that only takes care of the heating requirements of your home, you will see a decrease in the amount of power you use. This small saving may not seem like much at the outset, but when calculated over a few years, the cost savings are phenomenal.
With continual increases in the cost of electricity, this power saving is more important than ever. Statistics show that the prices will continue to climb, and the sooner people make the move to solar energy, the more they are likely to save in the long run.
3. Pay It Forward
If you go totally off the grid, you may find that you have additional solar power that you aren’t using every month. In fact, even residents in Chicago can benefit from solar. You can read more about the specific potential and savings here: Solar Panels Chicago.
You can even go further by establishing a solar conversion program in your community. Find out if your neighbor is willing to put away the amount they are saving on their power bill by receiving free solar energy towards purchasing and installing their own solar system. In fact, solar customers in Naperville can benefit from these savings as well.
They can then begin paying it forward to their next neighbor and so on and so forth until an entire community, suburb, or even city is able to go off the grid. Find out if the government is willing to provide additional incentives to institute your community solar program.
Always remember that you will not just be saving money but also minimizing your personal impact on the environment.