Amazon, Activision, Netflix….Solar Panels?
Going solar is no longer just an environmental move; now, strong financing and incentive options have turned solar installation into a long-term, low-risk and safe investment, one that’s even safer than the stock market.
Lower solar panel costs, lower installation prices and mainstream financing options (at rates as low as 3.59% —-contact us to learn more), are now making solar power a significant investment opportunity for some households that qualify.
In addition, the use of solar energy is gaining credibility as a sort of “insurance policy” against rising utility rates, according to a new, June 2015 study published by the Institute for Local Self-Reliance (ILSR).
This new study demonstrates the rooftop solar power to be fundamentally cheaper than grid electricity in 6 US cities (without subsidies).
Stronger than S&P 500?
A report from the N.C. Clean Energy Technology Center at North Carolina State University calculated that an average home solar system provided a stronger projected return than the 25-year return from the Standard & Poor’s 500 index (this was determined by calculating first year savings, relative value as compared to S&P 500, and the cost of solar energy as compared to grid electricity).
This was determined by calculating first year savings, relative value as compared to S&P 500, and the cost of solar energy as compared to grid electricity.
Approach This Wisely
However, calling a solar company and putting up panels does not guarantee a profitable investment. You must understand how to approach this investment practically.
When it’s done properly, ROI can be achieved in a much faster time than you might expect.
Sizing is Critical
If you don’t size your system correctly, it won’t yield a profitable return.
It is critical to your investment that you use a professional, experienced solar installation company to size your solar panel system correctly. At Sunbridge, we provide free on-site evaluations to determine what works best for your home or business.
A Huge Tax Credit
The final component to your safe solar investment is a huge federal tax credit worth 30% of the solar installation’s total cost, including labor. That recoup is available as soon as the system is purchased.
The upfront cost of a solar installation can be sizable, but solar financing, once niche, has now become mainstream.
Washington & Oregon offers a wide array of financing options that will lower your upfront costs. At Sunbridge, our professional analysts can help you find the most practical financing option.
Solar’s Return on Investment
A report from the Evergreen State Solar Partnership showed that with good financing and strong incentives, you can achieve a full ROI in approximately 5 – 10 years.
Your return could be even quicker, depending on how well you approach your investment. Like we said, the key components are claiming incentives as soon as possible and sizing your system correctly. Remember – the investment doesn’t work at all without incentives, and these could be ending fast.
If you are looking for a safe, long-term investment, solar power is now as attractive an option as anything you might find in the stock market.