Much of modern life is defined by the balancing act of income and expense. We work to provide for ourselves and our families, and we spend that income on the things we want and need to operate daily. Many expenses are unavoidable, like water and groceries. Others, like an unexpected repair bill, can be uniquely frustrating. Some people choose to invest their money in things that they hope will generate value for them in the long run, but even those people have to balance their investments with their expenses.
Consider how impactful it would be to take one of those everyday expenses, something you may think you have to pay for to exist in the world, and turn it into a valuable investment in your future. Imagine if you could take your monthly electric bill, which as California residents can tell you is a growing expense, and turn those endless payments into a smart, stable investment with incredible returns? Well, you don’t actually have to imagine it, because that’s the power of a solar installation. Let’s explore how a solar system can transform your energy expense into an investment!
Reduced Expenses
If you pay the energy bill for your family, then you can attest to the fact that utility power prices have doubled in the last ten years. Especially in California, prices have increased dramatically year over year, with multiple price hikes taking place in the last few years. This doesn’t even include the current wave of price increases that have hammered the Bay Area and surrounding communities in the last few years, but it all speaks to an all too common trend: the price of energy is inflating at a rate that may outpace the actual income of the people who live here. Electricity has grown from a forgettable bill to a hefty monthly sum, and as energy demand increases those prices are never going to stabilize back to a comfortable norm.
Right off the bat, an investment in solar energy is going to help you lower your monthly energy bill. With competitive financing options available, you can work with a solar consultant to find a more comfortable monthly price, and then pay that bill monthly, with the confidence that it’s not subject to change. There will never be a price hike on your agreed upon contract, so once you’ve secured a price you’re happy with, that’s it! You’ll pay that monthly bill until the balance is covered, all the while saving on your former energy bill, and then the real excitement happens.
Once you make your last payment for your solar system, you’re done! There won’t be another bill in the mail because you’ve paid off your system and you’re generating your own clean, renewable energy at home! Depending on how you’ve sized your system and what kinds of additional battery storage options you’ve explored, you could be looking at total energy independence. You transformed your ever-expanding monthly energy bill into a much more manageable payment, and you set an end date on your energy bill! Add in any federal or state programs you took advantage of and your system is already looking like a better investment than your electricity bill – but it gets better!
Think about the stock market – no matter what the market conditions are, stock trading is always going to be a gamble. Your investments may be more or less risky, and a smart investor can engage with the system and potentially succeed. However, not everyone has the time to monitor the ups and downs of a volatile market, and in difficult times, it may be downright inadvisable to put your money into the system. A solar system provides an alternative investment opportunity – one that is much more stable and secure. By adding solar panels to your home, you increase the property value by the kW! While housing markets vary intensely by location, we have seen customers add thousands of dollars in value to their homes, based on the size of their system.
Making the Switch
Ultimately, the goal is to take your current utility spend, which is an eternal expense that is constantly on the rise, and convert it into a stable, reliable investment. This investment has a finite spend, which is typically within the first third of the system’s lifetime. Once the system is paid off, you get to enjoy the savings from your clean and renewable energy generation, and if you ever need to sell your house, you can rely on the added property value to further pay you back. No matter how you look at it, an investment in solar is a good idea.
Remember, you’re already paying for energy, and you currently have no control over the cost of that power. But with competitive financing options and modular system design, you can work with a solar consultant to figure out a monthly payment that works best for your family and budget. If you want to take control of your energy spend, and turn your costly expenses into a smart investment in your future, reach out to one of our expert consultants today!
