Residential solar photovoltaic systems are popping up everywhere in the US, providing power offset to those seeking economic relief from rising utility bills! There are ads everywhere that promise free solar panels and thousands of dollars just for allowing a company to go solar, however, the truth is that solar energy is an investment which creates a means to an end of your electric rate increases.
If I have to pay for solar each month, how does this help me lower my electric bills?
The answer is that you would hope to invest in solar enough to lower your monthly electric expense, while staying beneath what you were currently paying for electricity.
The fact of the matter is even if you are paying the SAME amount that you paid before going solar, financing with solar panels ensures that your solar payment rate will NOT increase. This means that you have created a way to stop rate increases on your electric bills and once the system is paid off, you have eliminated that percentage of electric expense. Residential solar is a great way to invest money in a way that decreases out of pocket electric costs, while increasing the value of your home!