After you install rooftop solar panels, your monthly power bill will drop – and you might not even owe the utility company any money at all.
Driving down electricity costs is a major motivation for many solar installations in the Intermountain West. And as an expertly designed photovoltaic system can operate for decades, the savings can amount to thousands of dollars. If you’re ready to say goodbye to paying high power bills, here’s what you’ll need to consider in planning your rooftop solar panel installation.
Home Energy Consumption
If you’re like most Intermountain West homeowners, you pay somewhere around $100 every month for electricity. You can offset that amount with a rooftop solar installation, but you may want to consider taking steps to make your home more efficient first. By reducing your energy consumption, the project will be more affordable.
Rooftop Solar System Size
A solar panel is only capable of producing a certain amount of electricity. Therefore, the size of your photovoltaic system will dictate the amount of money you have to pay the utility company each month. If your goal is to get your monthly power bills down to zero, you’ll need to install an array sized large enough to make that happen.
Solar Panel Installation Costs
Rooftop solar panel installation can involve a significant investment, but now is the right time to move forward with the project. Act before the end of 2020, and you can claim the federal solar investment tax credit (ITC) and get 26 percent of your photovoltaic system and installation costs back. That amount falls to 22 percent in 2021, and unless Congress approves an extension, the financial incentive will be gone in 2022.
In addition, many states in the Intermountain West region – including Utah, Idaho, Oregon and Washington – offer lucrative tax credits, rebates and incentives for photovoltaic system installation. These have been melting away over the last several years, however, so there’s no guarantee the programs will be around if you put off your solar project.
Should You Install Solar Panels?
Whether your rooftop solar array offsets all or some of your electricity costs, installation will pay off. Depending upon where you live, this may be in the form of net metering credits – but you can also count on a boost in home value. If you decide to put your property on the market in the future, it’ll sell faster, and for more money, than similar properties without photovoltaic systems.
Clearly, we think that planning a solar panel installation makes sense. If you’re still on the fence, the Nationwide Solar team would be happy to provide you with a free consultation. Our highly experienced installers can help you weigh the pros and cons of going solar, answer your questions about installation and give you an estimate of your total costs and savings.
For expert advice from an award-winning contractor serving Idaho, Oregon, Utah and Washington, contact Nationwide Solar and schedule a rooftop solar panel consultation today.