With Summer Almost Over, Is It Too Late to Save with Solar?

  • Nate Lewis
  • Chief Revenue Officer

With the full 30% Federal Tax Credit expiring at the end of this year, it's a great time to explore solar and start building up credits to offset next summer's big electric bills. This could be your last summer of electric bill spikes with the same payment every month that saves you substantial money.

Do you hate having to pay so much in the summer for electricity even though you're still sweating sometimes in your home to save money? Solar can help!

And there are several solutions. If you don’t want to buy a system outright, you can take out a loan through SunPower with very favorable rates. If that’s not your preference, you can also lease a system. For example, the SunPower lease is no money down and free installation; then you’ll have fixed payments for the next 20 years. Not only will this save you money, you’ll have the same payment every month so no more summer spikes!

Summer will be over soon - should you wait? 

Solar works on a 12-month basis, so you build up “credits” in the months when your system is producing more energy than you’re using, and use them during the summer when you need more than your system produces. If you’re not living as comfortably as you would like to, that can also be taken into consideration when sizing your system, so you should let your consultant know, The utility will allow you to install a system that will cover the same amount of electricity as your previous 12 months, and a bit more if your installation company fills out a justification form. That way, you can live comfortably for less money all year round and all your energy needs will be covered.

Explore solar now to take advantage of the full Federal Tax Credit for solar.

The full 30% Federal Tax Credit will change next year to 26%, and then the following year to 22%, so it makes sense to explore solar now. Even if you lease, it will save you extra money because the company providing the lease will take the tax credit but pass it along in the form of a lower payment for you. And since there’s no charge to have someone come out and take a look at your roof and give you an estimate with all the options (although some companies only offer a purchase or loan, so check first if you want a lease), it makes sense to explore solar now.

 

 

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