If there’s one thing that Dracula was focused on, it was his sleep schedule. He needed to get back to his Transylvania casket by sunrise, or his spooky powers were depleted. Everyone knows that sunlight is not a favorite of vampires, but it sure can be for those who invest in a home solar system.
Between the tax incentives and the reduction of your electricity bill, you can earn significantly more money over the life of a home solar system than what you spent on it upfront.
Here are some details to calculate your potential return on investment of a system:
- Start with the estimated price of a solar system. (At Cool Blew Solar, we’re happy to give you a free estimate to help you better understand your costs.)
- Next, divide that number by the cost of electricity per watt from your local utility provider. You can find this on your monthly bill or by calling your provider.
- Now, divide the result by your monthly electricity usage in kilowatt hours. Then, multiply that number by 12 to get a rough estimate of your yearly usage.
This will give you a one or two-digit number. That’s is your payback period, measured in years. In other words, this is how long it will take you to break even on the initial investment of your system.
Most solar panels have a warranty for 25 years. You can divide your final number into 25 to calculate the total payoff of your investment into solar. Likely, you’ll find that the system will pay for itself several times over before the warranty expires.
At Cool Blew, we can provide more detailed information, based on your specific energy usage patterns and returns to determine how much solar energy you may need to generate and the type of system you need. We also will give you the latest information on tax incentives and rebates which make solar even more affordable. Call us today to get started with capturing the true power of the sun.