One of the reasons solar energy has become so popular over the last few decades is that switching to this renewable energy source can save you thousands of dollars a year on your electric bill. This makes electric companies nervous: there are a lot of things that they don’t want you to know about solar energy, so you won’t make this beneficial switch. After all, they want to keep your business! But we’ve got the inside scoop on everything they don’t want you to know about switching from traditional power to solar energy.
Solar Power Is on the Rise
Solar energy has been getting more popular in the United States, and around the world. There are many reasons why people are investing in solar panels; the amount of money you can save is often the number one reason, but other reasons include:
- Solar power increases the value of your home
- Making the switch allows you to be more environmentally friendly and to help save the planet
- You can get state AND federal tax incentives to help offset the cost of switching
Switching to Solar Power Is Cheaper Than Sticking with Traditional Electricity
Let’s take a closer look at the savings we mentioned. Have you actually sat down and calculated your electric bill over the past few years? If you do so, you’ll see that your electric company increases its prices by 3 to 5% every year! A lot of electric companies think they can get away with this, and why? Because customers often feel that they have no other option for electricity, or that solar power is out of their reach. But neither is true! You have the option to switch to solar, and while making the switch might seem expensive (installation can cost up to $10,000), the savings you’ll get in the long run make the initial outlay well worth it. Your investment will soon begin to pay for itself, since you’ll be receiving free renewable energy from the sun.
Did you know that, with a solar energy system, you won’t just save money, but you can also make money? Your electric company might not want you to know that they could end up having to either credit you or even pay you for any surplus energy that your solar energy system produces, through either a billing mechanism known as net metering or through Solar Renewable Energy Credits (SRECs).
Utility companies in the United States are required by law to offer net metering to customers with solar power systems. This billing mechanism allows you to sell excess energy back to the electric company for credit against your account. Doing this can essentially take your utility bills down to nothing.
You can also look into getting SRECs from your utility company, which means they’ll essentially pay you for helping them meet their requirements for producing a certain amount of clean energy. For every megawatt-hour (1,000 kWh) produced by your system, you will get one SREC. Generally, you can estimate the number of SRECs your system will produce by multiplying the size of the system by 1.2. For example, a 5-kilowatt system will produce approximately 6 SRECs each year. The price of these certificates will vary by location, ranging anywhere from $5-$500.
Looking For An Affordable Solar Energy System?
Your electric company does not want you to know about all the great ways you will be saving money while helping the environment when you switch to clean, renewable solar energy. If you switch, you’ll save a lot of money on your electric bill, because of all the incentives available, such as tax credits, SRECs, and net metering. Taking advantage of programs like this will mean you’ll get a return on your investment as quickly as possible, which will eventually lead to decades of free solar energy!
It can take a lot of work to find the right solar company and the right solar power system for you, but our highly trained agents can make things easy for you. We work with the top-rated companies in the country and can compare all solar plans in your area to find the best one available. To get free instant quotes, simply enter your zip code in the bar on our homepage, or to speak to a licensed agent, call 888-290-3112.