Cost & Savings

Saving with Solar

There are numerous ways to save money when going solar. Whether you’re looking to reduce costs on installation or your utility bill, we’ll detail all of the ways you can save with solar power.

Lowering the Price of Your Home Solar Power System 

• Local rebates: Reduce solar installation costs with renewable energy incentives from your local or state government.
• Federal tax credit: Take advantage of the federal solar tax credit, which can save you 30% on solar panel installation costs.
• Manufacturer rebates: Find out which manufacturers make going solar as easy as possible while offering financial incentives toward your solar installation.
• Promotions: Pay attention to promotions in your city or state that could help you save on purchase and installation costs. Buying at the right time is smart buying.

Saving Money on Utilities

• Utility bills: Say goodbye to high electricity costs. Going solar can dramatically reduce your monthly utility bill. 
• Net metering: Get paid for any excess or unused energy your solar system generates. You can potentially save thousands of dollars in electricity costs over the lifetime of your solar energy system through net metering.

Take a look at our solar potential calculator to get an idea of how much energy your panels could generate as well as how much money you could save based on your utility bill. 

[Related: Energy Independence Through Solar]

SAVING MONEY ON UTILITIES

Saving Money on Utility Bills

One of the most popular reasons to go solar is the drastic reduction to your monthly utility bill. The amount you’ll save depends on how much energy your system produces as well as how much energy you consume. But the most significant benefit is the decrease in your energy bill since you’re harnessing the power of the sun, a free, inexhaustible energy source.

You’ll also avoid hefty electricity rates that are often unpredictable and increase over time. And since the amount you’ll save with solar power is usually equal to the amount you’ll avoid paying an electricity supplier, your finances won’t be affected by surging energy prices in the area. 

When you install a solar panel system, you can lock in your energy costs at a constant rate, making your finances much more predictable.

Saving Money with Net Metering

A solar panel system is a workhorse and can often generate more electricity than you need for your daily use. This is where net metering is beneficial; it serves as a billing agreement between you and your utility provider as a solution for any excess, unused energy. You can program your solar panel system to send any unused electricity to your city’s grid, and in return you’ll receive credits on your electricity bill. 

Net metering is especially useful since it’s rare that someone is at home using electricity all day and night. When you’re out of the house, your solar panels will continue to generate energy and store it as backup power in a battery. Or even when you’re sleeping at night and not using electricity, you can tap into those net metering credits to offset your electricity bill.  

This means that you’re not only in control of your own energy, but you’re able to give electricity back to your city, making sustainable efforts and also saving money in return. Triple win!

All the Ways You Can Save with Solar

Acquiring a solar panel system is a major home improvement project, but it’s well worth the time and financial investment. Most homeowners go solar with no money down up front thanks to local, state, and federal incentives that significantly help reduce costs. 

Whether you’re utilizing local, state, or federal rebates, net metering, or perhaps seasonal promotions, you have plenty of ways to offset the costs of your solar panel equipment and installation to help you gain a lifetime of free, renewable energy. To learn more about solar panel company Freedom Solar or request a free consultation and quote, call +1 (800) 504-2337 or fill out our online inquiry form.