Why did you purchase your home instead of rent? Some reasons may be to pay off and own, keep the payment the same for X amount of years for budget purposes, and not have to worry about rents or interest rates going up. This is similar to what you would do with solar. Instead of renting power from the utility company, you put that money in your own solar system, get locked-in to battle inflation, save money, and once the system is paid off, you have an even lower expense. You should be saving money from day 1!
The other option with solar is to lease which means you are still renting power like you do now, but a major benefit is locking in a rate for the next X amount of years, so you are still saving a lot and it is still better than renting from the utility company where rates continue to rise.
With solar you are swapping your bill from your utility to solar. Even if you don’t see massive savings today, think forward. Your utility bill has always risen and it won’t stop. Utility companies are constantly given approval to keep raising rates. They need to keep up with the green initiatives, repairs to the grid, pollution control and more, like lining their pockets. 😂 Though, I don’t have any proof or facts they are lining their pockets. 😁
One more way to think about it… What if you jumped in a time machine like the movie Back To The Future. You go back to 1997 and are at a gas station. The owner comes up and says, hey, if you sign this piece of paper, you can have all the gas you purchase starting now and for the next 25 years at today’s rate of $1.71. I am sure you would sign in a second! Solar is similar because you can protect yourself from massive power rate inflation just like gas inflation in this example.
Like many things that we deal with in life, it’s a matter of how you look at it. When you look into solar, it normally makes a lot of sense and you are in more control. However, there are exceptions where it doesn’t make sense. Ask Anything Solar is designed to help you walk through that process and help you make an informed decision.