Sure, you can keep buying the eggs. It’s really your choice. The goose in this case, of course, is solar. With solar financing options these days a monthly loan payment will be similar to your monthly electric bill.
Solar suffers from a sticker shock problem. But the truth is, the shock comes from the price of energy, not the price of solar. Over the next 15 years you’re either going to pay your utility $20k or you’re going pay that money to yourself. And once that loan is paid you won’t be paying anyone for electricity. The power is all yours.
As far as the cost of solar has fallen it really is up to you. Buy your own generator or pay to use the utility’s. Do you want to make your monthly payments towards your energy loan? Or would you rather write a check to your local utility? It’s as simple as that.
You can put your payment towards an investment that increases your property value, or you can spend it on infrastructure that pollutes your environment. Like I said, your choice.
But isn’t Solar Expensive?
At under $21,000 the total price tag on a typical residential solar rooftop installation in 2022 is less than half the average cost of a new car ($47k).
And that’s before the thousands of dollars you’ll get back in government rebates and incentives.
Just like your car purchase, covering the upfront cost is what loans are for. Banks all over would love to help you buy your new solar installation.
It blows my mind when I drive around and see all these bald roofs everywhere. I can only assume the word hasn’t gotten out about how truly affordable solar is. If people knew they could basically replace their energy bill with a loan and buy their own power plant, why wouldn’t they? I’m convinced that, as it was with me, they just don’t know…
My Solar Story
Way back in December of 2014 I got a sales call. Normally, I would politely hang up but the salesman said something that caught my attention… he said solar. Now, this didn’t capture my attention because I was interested in buying solar at the time. I wasn’t. In my mind, solar was something for folks that had far more money than I did. (Sound familiar?)
In truth, it caught my attention because I wanted to nerd out. Renewable energy was the focus of my degree. So needless to say, the guy had a sympathetic audience with me… at least for his pitch. I didn’t expect I’d actually be able to afford what he was offering, but I wanted to listen.
He worked for a local solar company and was cold calling people in the area. In order to identify potential clients, he used google maps to spot roofs that looked favorable for solar. I have an A-shaped gable roof. Basically, two rectangles sloped downward. One of those rectangles just happens to face due south, which is ideal placement for solar panels if you live in the northern hemisphere.
The Pitch
The salesman told me I was in an ideal position to act. Washington State solar incentives were lucrative, but were going away. The Federal Government was also offering a huge rebate with an uncertain future. Additionally, his company had a local credit union set up that specialized in loans for sustainability related purchases.
He told me if I was ok with it, he’d send out a representative free of charge. They’d get on my roof, measure the pitch, angle, shading and other factors. Then, they’d produce a report detailing 3 different sized systems and how much energy each option would produce. As I said earlier, I wanted to nerd out. He had me at report.
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The Guarantee
The thing about the energy generation estimate they give you is, it’s science. Because it’s science, the company was able to guarantee how much energy my panels would produce each year. The contract even says they’ll pay for any shortfall. They never have to pay.
The Offer
As promised, I was provided a detailed report, with three different system options ranging from 5 to 10 kW, with the larger system carrying a price tag of over $35,000. On its face this sounded ridiculous. But the more I dug into it the better it sounded. In fact, it started sounding too good to be true.
But that’s crazy you’re thinking, how is a $35,000 home improvement project too good to be true? Well, follow me.
The Incentives
The incentives in 2014 were generous. The salesman wasn’t lying when he told me it was a great time for me to act. The Feds were going to reimburse 30% of the system cost the next time I filed my taxes. True to form, Uncle Sam cut a check for over $11k.
On top of that, the State of Washington paid an annual rebate based on the amount of energy generated for 5 years. Each of these checks was around $3k. So, we recouped about another $15k there.
And if that wasn’t enough, my local utility offers net metering. So, when my panels produce more energy than I consume, my meter spins backwards, and so does my bill.
The Loan
Now that I knew I would only really be responsible for less than a third of the cost of my system it seemed foolish not to pursue. The credit union, as advertised, offered a low interest loan to finance the system. They also offered a one-time re-amortization which allows you to lower your monthly payments after you’ve applied some of those giant rebate checks to the loan balance.
The Results
As advertised. Most months, I pay only a $12 utility connection charge. I do have some energy efficiency issues I need to address with my home, which will make my power go even further, but we’re saving that for a future edition.
So, What Does This Story Have to do With You?
It’s not often you stumble into a good deal. But sometimes we walk right past them and don’t even know. I would have, if not for that cold call I almost dismissed. And as I pointed out, I wasn’t exactly an unsympathetic prospect.
Many of the programs that I took advantage of are still available. We have an entire article devoted to teaching you what incentives are available. If you live in America, that starts with a 26% rebate assuming you act this year. When applied to a solar generation system we’re talking thousands of dollars back.
The rebate I received in Washington State has run out, but some states and local utilities around the country are still offering similar incentives.
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Solar is Cheaper Now
The purpose of government incentives is to grow the market. To allow access to a technology that may be otherwise cost prohibitive for most folks. The goal is for the technology and the market to eventually mature and become self-sustaining and incentives no longer necessary. While I believe incentives are still warranted, the market is clearly maturing and the cost of solar plummeting.
So, while you may not have as many incentives available as I did, you start off with a cheaper system to begin with. And the incentives that are still available are nothing to flinch at.
So, Quit Buying the Eggs Already!
While there is some up-front cost, you can get financing help to make it work for you. You can pay a loan towards a power generator you own, or you can keep renting the generators provided by your utility. Again, your choice.
I’m Sick of Your Naked Roofs!
It’s been almost 10 years now since that cold call. And every now and then I look around and shake my head at all the naked roofs. How perverse!
I think to myself, if only they all knew. If only they knew that they could have a power plant on their roofs. That way I could stop looking at all these unsightly asphalt shingles.
Take Action!
You don’t have to live this bare roof existence any longer! Take power back into your own hands! Power your home with your very own golden goose, or keep buying your utility’s rotten eggs. Your call.
The Solar Marketplace
If you’re ready to buy the goose, Evergreen Off-Grid has partnered with EnergySage and we’re excited to show you how to save thousands on your new solar installation through The Solar Marketplace.
EnergySage is the largest, most trusted solar education resource in the country. They serve as a consumer advocate to help energy customers learn about and comparison-shop for their rooftop solar, battery and community solar options.
Simply sign up (no phone calls required!) and receive multiple quotes to compare in one place.
EnergySage’s competitive marketplace is free to use and helps deliver up to 20% savings compared to the broader market. Additionally, their team of unbiased expert Solar Advisors can help you review your proposals and answer any questions you have along the way. So head over to the Solar Marketplace now and find the best solar solution for you!
Savings on Savings on Savings
If you act now your savings will start with a 26% rebate from the Federal Government (plus any local incentives), more efficient and cheaper solar panels than ever and a place to shop for contractors that will shave thousands more from your solar installation. What are you waiting for?!
Thank You!
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