Saving money with solar is a very common sales pitch. You’ll often hear it combined with other benefits like “pay zero down” or “free installation” and so on.
Regardless of the approach, it's important to understand one thing: when you put a solar system on your roof or property you’re installing an electrical energy generation device built to last over 25 years. The cost of the power this system generates is a function of total cost plus maintenance divided by the amount of energy produced over the period in question. This cost is expressed in terms of dollars per kilowatt-hour of energy ($/kWhr). If you were to look on your electric bill and take the total amount you pay and divide that by the kilo-watt hours (kWhr) you used you’d get an equivalent measure of the cost of electricity from your utility ($/kWhr).
In most cases (and especially with electric bills over $200/month) solar will save you money. In the worst case it’s likely you can buy clean solar power for the same price you’re paying the electrical utility for fossil fuel power. After that it’s a matter of deciding the best way for you want to realize your savings and pay for the electricity generated by your system.
All of the proposals that we generate at Referral Solar will show you your total cost of power and how it compares to your current electric bill. As for how you choose to pay for your solar system , your Solar Sales Agent will provide a complete description of options for you, complete with available tax credits and rebates.
An additional benefit to the savings solar provides is that the rates you’ll pay for solar power will be fixed or predetermined for the life of your system. Historic annual rates of increase for electricity vary from utility to utility from as low as ~3% to as high as 25%. Regardless of your utility's historic rate increases, the one thing everyone will agree on is that your electric rates aren’t likely to go down in the near future.