Return on Investment (ROI) aka “How Am I Saving Money”

This is arguably the most compelling reason to consider switching to solar energy—it’s a perfect balance of harnessing the power of the sun while also adapting your habits for greater efficiency.

It Depends on the System Chosen and Finance Choices:

1. After the installation and PTO phases are completed, the second to last final step is knowing that your first payment is 1-2 months away so that you can prepare. The Finance Company will anticipate your first payment which will remain fixed for the duration of the loan. Click here for more info.
2. You will still receive an electric bill, although, after a few months during the adjustment period of getting to intimately know your system, you will start to see your electric bills reduce. Furthermore, it will level out depending on the time of year. (think Spring vs Summer or Fall vs Winter or even rainy vs full sun). In our experience, this has taken on average 2-3 billing cycles to really see a difference.
3. Level out your electric bills: Once your bills stabilize, find additional ways to reduce energy use.
4. Avoid overuse: Exceeding your solar system’s capacity can lead to higher electric bills, negating savings.
5. Solar isn’t a “free pass”: It helps reduce high electric bills but doesn’t eliminate the need for energy-conscious habits.
6. Battery backup system: If you have one, excess energy can be sold back to the grid, potentially lowering your bill or eliminating it.
7. Without battery backup: Your solar loan remains fixed, and you’ll need to adjust usage to avoid high bills at night when you’re on the grid.
8. Smart planning: Optimize energy use by running tasks during peak sunlight hours, and minimize energy use at night.
9. Budget-friendly: Whether you have a battery backup or not, you can make solar work within your budget with proper planning.

WHAT IS SOLAR PAYBACK PERIOD?

What is a Solar Payback Period ?

• Your solar payback period is the time it takes to break even on your investment/purchase of a solar system.

To figure this out in greater details, be sure to spend some time with your representative during your free consultation as they will gladly go over how this could potentially play out. Please keep in mind that this conversation will be an estimation based on what verbal information is given by you the customer. It will only be a “guesstimate”. Many factors come into play like your system chosen, your usage, how you save, how fast you pay off the solar loan, energy credits on your taxes, and the climate where you live.

Here are some tidbits and resources for you to take into consideration:

LOCAL COST OF ELECTRICITY

The cost of electricity varies by your location, as each utility sets their own pricing and usage terms. The average cost of electricity can range depending on what state you live in or what side of Texas you live on.

If you live in an area with higher electricity costs, you’ll have a faster payback period because you’re knocking out a larger electric bill each month.

If you live in an area with low electricity costs, you can still see a positive return from going solar, but the payback period will be longer because the utility bill you’re offsetting isn’t as expensive.

SUN HOURS

Not all homes/commercial sites/RV’s/Other Structures are created equal; some get more sunlight than others or have certain obstructions. To use a national example, a solar system in Arizona will be exposed to twice as much sunlight, and produce twice as much usable power, as one installed in the frigid state of Michigan. To use a local Texas example, a solar system in Brownsville (South Texas) will be exposed to much more light and produce more usable power than a solar system installed in Lubbock or North Dallas (North Texas) where temperatures can drastically freeze and sunlight reduced.

While solar provides a positive return on investment no matter where you are in the US or what side of the State of Texas you live on, the payback period will be longer in areas with low solar exposure.

To check how many sun (energy) hours you get in your specific location, please be sure to check out NREL’s solar resource maps. It’s really cool!