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Is My Electricity Bill High Enough to Justify Going Solar?

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Is My Electricity Bill High Enough To Justify Going Solar?

Electric cost savings are one of the primary advantages of setting up photovoltaic panels at your Massachusetts house. Setting up home solar panels and battery storage can considerably minimize your regular monthly electricity expenses, and in some cases, solar can remove electrical power bills completely.

Before making the switch to solar, you may be wondering whether your electric costs are high enough to necessitate going solar. For the most part, the answer is yes. If you’re using an average quantity of electricity ($ 132.18 a month in Massachusetts in 2020), solar is worth it for your home. If you fall below the $50 a month mark, nevertheless, going solar might not be the most cost-advantageous service for your house– unless you are planning to amaze your home, that is.

You’ll start saving on your electrical energy costs immediately when you set up photovoltaic panels, and Massachusetts solar rewards like SMART, net metering, and ConnectedSolutions can help accelerate your repayment period.

Photovoltaic Panel Installation Is More Budget-friendly than Ever
When photovoltaic panels were first introduced, they were a costly technology that the average homeowner could not manage. Times have altered, nevertheless, and solar panel expenses have actually gone down considerably. Today, photovoltaic panel installation is a lot more available.

Solar incentives, like the federal solar financial investment tax credit (ITC), assist to reduce the upfront cost of a solar installation. With the solar tax credit in 2022, you can reduce your federal tax liability by 26% of your solar installation costs. This can make your upfront installation costs far more manageable and make the financial investment worth it even if your electricity bills are on the lower side. To make the most of the ITC, though, you’ll require to act quickly– the tax credit for residential solar projects drops to 22% in 2023 prior to ending totally in 2024.

For How Long Will It Take to Settle a Solar Installation?
The quantity of time it takes to pay off a planetary system installation will be different for everybody. Aspects like the size of your system, your energy intake, the financing strategy you used, and the incentives you qualify for will all impact your repayment duration.

To determine the quantity of time it will take to settle your solar setup, follow these actions:

Compute your total solar installation expenses and subtract the value of any up-front incentives, like the federal solar tax credit.
Build up your estimated electrical bill cost savings and payments from month-to-month rewards like SMART.
Divide your estimated expenses by your approximated savings.
The result of this estimation will be the variety of years it will consider you to recover your investment. After that, you’ll be making money off your photovoltaic panels!

Unsure what your approximated costs will be, or what your average electrical expense with solar panels will appear like? We can help you estimate your solar costs and cost savings throughout your complimentary solar assessment.

Reduce Your Energy Usage Prior To Going Solar to Minimize Setup Costs
If you can lower your energy use prior to you setting up solar panels, you’ll have the ability to minimize the size of the system you require to satisfy your electrical energy needs, causing lower upfront costs and a much faster payback duration. You can minimize your electricity usage by making small modifications, like changing to LED lightbulbs and utilizing ceiling fans instead of a/c whenever possible, as well as more significant upgrades, like installing new insulation or updating to energy-efficient devices.

Discover more About How Solar Panels Affect Electric Bills
At the end of the day, choosing whether solar panels are worth it for you is a very individual choice. No 2 homes use energy the same way, and everyone’s spending plans are different– what one person sees as a fast payback duration, another might consider too long.

We can help you make the very best choice for your home and requirements. We are the leading solar installer near you in MA, and we have actually been empowering Massachusetts homeowners to take control of their energy use and production for over ten years. We have actually assisted countless property owners go solar in such a way that works for them, and we can help you do the exact same.

Have questions about solar electric costs cost savings? Call (844) 833-05-11 or call us to arrange a totally free assessment with the best solar service provider near you in Massachusetts.

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