So, you’ve been researching generating your own electricity with a solar panel installation for the past months, you understand that going solar is a smart financial decision, and you know it’s great for the environment, too.
Still, you aren’t quite sure when you should pull the trigger and take the next step towards joining the solar power revolution…
Here Are 5 Good Reasons To GO SOLAR In South Carolina THIS SUMMER
#1 Solar costs are at all-time lows
According to research by GTM Research and the Solar Energy Industries Association (SEIA), the national average for residential solar costs fell to an all-time low in Q1 2017, decreasing to under $3 dollar per Watt ($3/W) since 2016.
SEIA reports that average pricing for residential rooftop solar energy systems landed at $2.84/Wdc, driven by efforts by national and regional installers to lower operational costs and optimize on-site installation labor.
Additional data from GTM Research shows the cost of solar modules (solar panels) fell to an all-time low of $0.40/watt at the end of 2016, with expectations to continue falling through 2020.
The total cost of a home solar panel installation is made up of on-site labor, engineering, and permitting, plus physical hardware costs like solar modules, racking, inverters, etc.
#2 Available solar rebates will not last forever
Residents who go solar in South Carolina have access to some of the best rebates and incentives available in America – no lie! A 30% Federal tax credit is available for solar panel installations, a 25% South Carolina tax credit is also available, and local electric utilities like SCE&G, Santee Cooper, and Duke Energy Progress/Duke Energy Carolinas offer additional solar rebate & incentive programs in South Carolina!
However, these utility solar programs have a limited amount of capacity. As time goes by and more people apply for these programs, incentive levels will decrease until they eventually run out.
Going solar this summer will ensure you reserve your rebate at the highest level available, and will also contribute to a quicker return on investment.
Related Reading: How Long Does It Take For Solar To Pay Off In South Carolina?
#3 You OWN your home – Why RENT your power?!
Every day that goes by is a day that you give away your hard earned money to the local power utility. That is, unless you produce your own power with solar, in which case you essentially pay yourself.
A standard roof-mounted 8 kW solar energy system will produce approximately $1,400 dollars in energy each year according to our own calculations.
If you installed solar 5 years ago, you could have produced the equivalent of over $7,000 dollars of solar electricity! That’s money you DON’T pay to the local utility.
#4 Offset your highest electricity bills of the year
Summer weather brings with it the hottest temperatures in South Carolina. If you are like most homeowners, when you get home from work you immediately click on the air conditioner to cool down your house.
Unfortunately, the more you run your air conditioning the more electricity you use, and the higher your energy bill grows.
When you produce your own energy with a residential solar power installation, you have the ability to offset these bills by 25%, 50%, or more. Believe it or not, we actually have customers that produce 100% of their electricity needs through solar!
Hypothetically, let’s say your new solar panel installation produces 50% of your power needs, and your summer power bills are $300 bucks due to higher use of air conditioning.
With solar, that $300 dollar bill gets cut down to just $150! And since solar panel are warrantied for 25 years, you get a lifetime of savings and lower monthly bills!
#5 Finance & leasing options make solar available for everyone
Finally, and probably most important, EVERYONE can go solar thanks to innovative finance options and ownership models.
If you don’t have the savings (or if you are planning on spending your savings on something else) you can still own a solar power system through financing.
When you finance your solar power system you can also take advantage of available tax credits, rebates, and incentives. You pick the length of time you want to finance your solar purchase, generally for 5, 10, 15, 20 or more years. The longer period of time you finance, the lower your monthly payment will be, but you will pay more in total interest.
Plus, you may be able to take advantage of $0 Down financing arrangements which allow you to own solar and get a 1-month head-start on energy savings before your first finance payment is due.
Learn more about solar power in South Carolina
Southern Current is proud to be one of the leading solar companies in South Carolina, with services available throughout the Southeast. Contact us TODAY to schedule a FREE consultation, and find out how much you could be saving with solar!