Estimated “promised” savings vs. live tracked savings.
Financial returns and lower monthly utility bills are major incentives for going solar. After the installation of solar, customers will see an immediate drop in their electricity bill especially if they live in areas with high utility rates. They do not have to wait years to see the return on their investment. It is worthwhile to install solar panels while the tax break is in place. This is because the cost of installing solar panels has improved, while prices of energy have not.
But will those initial costs of installation be outweighed by the estimated utility savings? It is all about mindset if the customer is thinking of long or short term savings. National energy statistics indicate, to date, the average payback period (when savings outweigh initial costs) for the installation of a residential solar system is about five years in the US.
By installing solar and creating energy, customers will reduce utility bills and repay their investment over time. Tracking their energy savings in comparison to their utility bill before solar is where they will see an immediate return in their investment. The solar process can be confusing but it doesn’t have to be. Visit www.engage.solar to learn more about how to get started.
Communications Intern for ENACT Systems Inc.