Whether you are seeking to lower/eliminate your power bills or to reduce your carbon footprint to combat climate change, going solar can save you a lot of money and be a responsible and pragmatic decision. However, as it exists today, it is not for everyone.
Financially, if you are an ideal candidate for solar, it is truly a no-brainer. You can go solar for $0 out-of-pocket, be cash positive in year 1, the cost of your system is less than what you save on your power bills, and the average system produces over $20,000 in profit over 25 years. (outperforming the S&P 500 in 46 States!)
When it comes to reducing your carbon footprint, going solar has the potential to be a true game changer. You can reduce your carbon footprint by as much as 80%. This is equivalent to planting 119 trees, a year, every year of your life! The reduction is equivalent to burning as much as 3 tons of coal a year.
that sure is a lot of trees!
However, what many solar advocates, and unscrupulous solar companies WON’T tell you, is that these amazing benefits and results do not happen for everyone.
At American Sentry Solar, we say no to more potential customers than we say yes to. I know, that sounds crazy, but it DOES make sense. High performing solar energy systems = big savings for our customers = very happy customers. Ever wondered why nearly all of our customer reviews online are positive? It’s not magic, it is simply caring about the outcome our customers will have and putting their interests ahead of sales goals.
There are 5 key factors to consider when determining whether going solar is right for YOU.
- Home Ownership
- Tree Cover
- Roof slope, material and exposure
- Tax situation
- Credit Situation
If you rent or lease, solar is almost certainly not for you. Sure, some PPAs or leases may be available, but they are almost never financially beneficial to you. If you own your home, solar may be for you.
If your roof is shaded in any significant way, and you are not willing/able to remove or trim those trees, solar is not for you. Solar panels require – The Sun! (shocking isn’t it?!) Partially shaded panels will provide power, but not at an efficiency level that is financially rewarding to the owner.
Roof – slope, material and exposure
the right roof can make all the difference
Any solar installer worth their salt (or sunshine) is going to take a good look at your roof. Is it completely flat? Drainage and mounting may be an issue. Is the roof at an extreme pitch? This will reduce the panels exposure to the sun. Also, which directions does your roof face? South is ideal, but Southeast and Southwest can work as well. Finally, some materials like slate make installation expensive and difficult.
The biggest government incentives (and they are BIG!) are tax credits. The largest being the Residential Renewable Energy Tax Credit, which is a whopping 30%! Some states, like Maryland (where you get $1,000, solar credits and more!) provide aggressive incentives as well. Further, local/county/utility incentives may be available as well. However, if you don’t pay taxes, or pay very little, these incentives will not benefit you.
The vast majority of solar energy system owners finance their system. If one has a good credit score and situation, you can go solar for $0 down, terms from 5-20 years, and get an interest rate as low as 4%, all in an unsecured loan. However, if your credit score is less than 650, or you are over-utilized, finding affordable and reasonable financing can be quite difficult.
Putting it all Together
So, you own your home, have no tree or roof issues, you pay taxes, and you have a decent credit situation? Then solar is almost certainly for you! The numbers literally just make sense and you will almost certainly save significant money, while reducing your carbon footprint - the solar dream can be yours!
Ready to kiss those high energy bills goodbye? Want to combat climate change and leave the world a little better than you found it? Then just click below to request a 100% FREE solar analysis from your friends at American Sentry Solar.