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What Does Solar Cost?

Updated: Jun 28


Solar is free! Pay nothing for two years! No upfront costs!


Solar is popular right now, so ads run rampant across all mediums promising FREEdom from the utility company. How is that possible?


It's too good to be true, right?


Well....it depends.


First off, you and your home need to be qualified before I can determine if solar is right for you. This is why so much information is typically needed up front. Your home needs enough direct sun exposure for the panels to produce electricity. We will develop a satellite heat map with at least 10 years of weather patterns and shade cover to rate the monthly production potential for each area of your roof. Requirements include unobstructed roof space, proper minimum pitch, and free from shade.


I look at your current power bill to determine your usage for the previous year, and design an array that will match your usage. However, different utility companies offer different connection programs (or Net Metering) that may affect the size of the system, and there may be design restrictions from your city or HOA.


Many factors can easily increase or decrease the cost of the system, so this is why I take time for a discovery phase before consultation.



Okay, that makes sense, but what does it cost?



Solar doesn't cost anything. Sunlight is free! Enough sunlight hits the earth every 90 minutes to power our planet's energy needs for a year, we just need to capture it. Solar means investing in equipment to harness that free energy.


Your system will be financed, currently at an historically low rate. The structured payments will typically be lower than your current average utility bill, but the monthly savings are not the only value. The greatest value comes from avoiding inflation through ownership, just like taking on a mortgage to avoid rent hikes.


In North Carolina, utility rates have gone up an average of 4.7% a year since at least 2010 (or 40% over that period). That means if your current average bill is $100 a month, it would have been about $56 in 2010. At that rate, by 2050, it will be about $360, and will have cost you nearly $72,000 from now until then.


However, because of increased inflation internationally, and rising fuel costs, the combined cost of energy has risen an astounding 36% over the last 12 months, according to the U.S. Bureau of Labor. In North Carolina, Duke Energy's rates are scheduled to go up as much as 50% over the next five years as Duke Energy invests $100 billion to upgrade the state's energy grid to solar, wind, and nuclear.


You're already paying Duke Energy for solar, and you're paying too much.


Solar provides a fixed rate with an end date. It doesn't go up arbitrarily with inflation, because you own it, like a mortgage. And while utility rates continue to go up, the system you own will provide your energy for free, because you paid for it. That's what the graph at the top is all about: those are the actual numbers for one of my customers. The blue line is the utility cost, and the orange line is the solar payment. As time passes, the savings become more substantial.


It would be like if you could have locked in your gas prices in the 90s, so that now you're only paying $0.98 a gallon, while everyone else is worried it will go over $5 a gallon again. If you own it, you have peace knowing you have control over those costs, while everyone else is subject to the whims of the market forces and utility "landlords."


So what does solar cost? Nothing, if your home qualifies. You're already paying a monthly utility bill, so you use that budgeted money to pay for an investment in solar at a fixed rate.


In the end, you don't save money, you make money! That's better than free!



A Penny Saved is a Penny Earned


With solar, we simply shift the money you're already paying your utility company over to an asset you own, for less. This puts your money back in your pocket, and protects you from rate inflation. That's all profit, and it's your profit. With solar, you will have more money to invest in your future and your family's future.


Is it fair to say you would rather make money than spend it? Go solar today!


That's the real question.


A consultation with me means going through all the numbers for your home to be sure it's a good fit for you, so you can make an informed decision, on your time. Book a free energy consultation with me today and let's see all the ways I can help you build a hedge against inflation, lower your monthly energy costs, and add value to your home: https://calendly.com/jduncansolarconsultant/appointment?month=2022-01

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