If you’re thinking about going solar, you’re probably wondering how much it’s going to cost you…But you’re probably also really curious about how much money it’s going to save you!
Money is one of the biggest concerns our customers have, so we get it. When you’re thinking about buying solar panels, you’re going to have questions. And money is a big one! The cost and savings will be huge factors in your decision to go solar (or not).
Is solar affordable? Can you afford solar?
Solar Sam helps our customers figure out the answers to their toughest solar questions all the time. We put together this post so you’ll have all the financial information you need about solar panels in one, easy place.
The Top 5 Most Frequently Asked Money Questions about Solar
In this post, we’re covering the top five questions we hear most often from our customers that relate to the financial aspect of solar panels:
- How does going solar save me money?
- What are “behind-the-meter” savings?
- How does net metering earn me credits/save me money?
- How can I pay for solar panels?
- What solar rebates and solar incentives are available for me?
You’ll also see links to recent, related blogs on these topics if you’re interested in more information.
Q1. How Does Going Solar Save Me Money?
A1. One of the most common questions we hear is “How does going solar save me money?” And there are several ways. But, what’s most important to know is that, as soon as your solar panels are up and running, you start seeing electricity savings and cost savings on your monthly power bill right away.
Over the life of your green energy solar system, it’s possible to see average savings of $10,000-$30,000. Can we just say…WOW!
Learn more: How does going solar save me money?
Q2. What Are “Behind-the-meter” Savings?
A2. We get this question a lot, too…What does “behind-the-meter” even mean?!
In short, anything energy related that happens on your property (the user’s side of the meter) is behind the meter, or BTM for short. Anything on the grid (or utility) side of the meter is in front of the meter. So, your new solar panels will be a BTM solution that saves you money over the life of your system.
Learn more: BTM Savings 101 and BTM Savings 102
Q3. How Does Net Metering Earn Me Credits/Save Me Money?
A3. Net metering can be complex, and it isn’t available everywhere. But essentially, when your solar energy system produces more power than you need, you may be able to “sell” it back to a local utility for credits.
Net metering can save you a ton of money over the life of your solar panels, so it’s worth knowing about.
Q4. How Can I Pay for Solar Panels?
A4. First, decide if you’re buying or leasing your solar equipment, because that will affect which financing options are available to you.
Then, depending on where you live and the kind of system you’re buying, know that there are several ways to pay for solar panels. These can include:
- Tax credits
- Mortgages and loans
- Grant programs
There are also various rebates and incentives (most of which don’t apply to leased systems), which we’ll talk about next, and possibly even net metering to help offset your costs.
Learn more: How can I pay for solar panels?
Q5. What Solar Rebates and Solar Incentives Are Available for Me?
A5. There are SO MANY! For starters, there’s a federal tax credit of up to 26% for solar panels this year (2020).
We won’t go into all of the rebates and incentives here, but wherever you live, whether you’re a commercial, residential, or ag customer, there are solar rebates and solar incentives for you.
Learn more: How do solar rebates and solar incentives make solar affordable?
Solar Sam: Your Local Solar Experts and Professional Solar Installers
Based in Columbia, Missouri, Solar Sam is a fast-growing local solar provider for Missouri solar and Illinois solar. And, no matter where you are in the USA, we can help you with quality solar energy solutions! We pride ourselves on carrying the latest tech and the highest quality solar panels for residential, commercial, and agricultural applications.
We offer these top brands for solar panels and more:
- Silfab Solar
- LG Solar
- Solaria Solar
- Jinko Solar
- Longi Solar
- Mission Solar
As always, check out our website for incredible monthly deals! Solar Sam is here to help power your life with green energy run by the sun.