There is no better way for a homeowner to save money on electricity than to install solar.
Each solar energy system is different with many variables to address. Yet, the ROI (return on investment) can be as little as 3 years and no more than 8 years.
The electricity is essentially free after that.
Wow. Free electricity.
And over a 20 year period the savings is $1,000s to $100s of thousands of dollar.
It is so hard to imagine as a homeowner that over the lifetime of ownership you would pay $100,000 in electric. Let’s look at the numbers.
Example: 3 bed/2 bath; 1,800 sq ft home in Southern California. Annual bill $2,400. SoCalEd’s annual 6% increase.
Year 1 – $2,400
Year 5 – $3,029
Year 10 – $4,298
Year 15 – $5,426
Year 20 – $7,261
Total electric expenditure over 20 years: $88,285.42
Wow. A lot of money.