At PMax Solar Inc, one of our primary goals is helping U.S. home owners discover ways to save money on their monthly energy bills while reducing their carbon footprint.
This is not a small amount, either: we’re talking thousands of dollars sliced off your energy bills every year thanks to installing a rooftop solar panel!
— PMax Solar (@PMax_Solar) October 19, 2016
We know the process behind the scenes may not be clear if you are just now doing your first research about this huge opportunity.
That’s why we are providing a detailed case study in this blog post in order to llustrate how much money you can save by reducing your energy bill drastically.
Calculating costs of your energy bill
Here is how you save money with solar electricity: every month you pay your electric bill to the utility depending on electricity (measured in units of kWHr) you consume.
For example, let’s say you use 1000 kWHr of energy per month and the rate of energy sold to you by your utility is 15 cents/ kWHr, your monthly electric bill is 15 cents X 1000 = $150. On average, U.S. electricity rates increase at about 3% annually.
If we do the math, in 25 years you would pay a total of $65,000 for electricity.
Now, let’s assume you choose to go solar. You install a solar system and configure it to generate an average of 1000 kWHr of energy per month.
You would completely offset your electricity consumption with solar electricity and your electric bill will become zero (on average) for the next 25 years and even further.
You could pay for the solar system installation through one of the financing mechanisms (Self-pay, Loan, PPA, Lease: more on these on future blogs). As an example, if you pay for this solar installation out of pocket, with 30% federal tax credit, your system cost would be around $25000.
This means you would save $65,000-$25,000 = $40,000 over 25 years of installation and much more beyond.
Now, let’s say your energy bill was $200/month.
To completely offset your energy bill, you would install a larger solar system. In this case, over 25 years, your energy bill would be $87,500. Your cost of installation would come out to be $33,500.
In this case, you would save $54000 ($87,500-$33,500) over 25 years!
Solar electricity converted your electric cost into electric savings. Isn’t that remarkable?
Sign-up at pmaxsolar.com right now and find out how much you can save.
Read our other blog posts below to further educate yourself about this amazing opportunity that we are providing you!