Saving Money in 2015
With 2015 just a couple days away, people are thinking about what next year will hold for them and planning their new years resolution.
Carrying out a promise you made with yourself can be difficult, especially if theres a lot of work involved.
If saving money or getting a better hold on your finances is your new years resolution, have you considered going solar in 2015?
Here are three ways solar can help you save money at home and control your energy costs in 2015:
Paying for Solar can be Cheaper than Utility Electricity
If youre not familiar with how solar works, heres the gist of it: The solar array on your home will generate electricity that you may or may not use right away. The electricity you do not use goes back onto the grid for your neighbors/others to use and you earn credit with the utility through your meter. You then eat into that credit at night and cloudy days when your system is not generating electricity. At Baker we typically suggest doing a 100% offset system, meaning the solar array will offset your electricity usage entirely.
When you purchase a system, the payback period can vary depending on how much youre spending on electricity every month and how much you pay for your system, but its typically 5-6 years. After that, you get to enjoy free electricity for the life of the system.
When you lease a system, theres no upfront cost and you make fixed monthly payments for the solar for the 20-year period.
If your electric bill is at $150 a month or more, going solar may make financial sense for you. Why pay the rising utility rates for electricity when you can take control of your own electricity generation for less?
Pairing Solar and an Electric Vehicle
This year saw a surge in electric and plugin hybrid vehicle sales. Over 100,000 EV and plugin hybrids have been sold in the US alone this year with the Nissan Leaf, Chevy Volt, and Tesla Model S in the top three positions respectively.
Nearly every car manufacturer has an EV or plugin hybrid model: Nissan, Chevrolet, Toyota, Ford, BMW, Smart, Fiat, Cadillac, Porsche, Honda, Kia, Volkswagen, Audi, and Mercedes.
Are purely electric vehicles the future? Maybe. Recently, Audi announced that it aims to launch two purely electric vehicles by 2018 as it tries to catch up to rival BMW and EV powerhouse Tesla. And speaking of BMW, theres speculation that they will be discontinuing combustion engine production in as little as 10 years.
Whether you already own an electric vehicle or are planning on getting one, having solar energy power your EV charging station is a wise choice.
Youve already read how switching to solar can help you save money by eliminating high electric bills, imagine if you could eliminate the need to buy gasoline!
Federal Tax Credit and the Current Net Energy Metering
Through 2016, the federal government is issuing a tax credit valued at 30% of the price you pay for a purchased solar installation. The credit is a great way for homeowners to save thousands on a purchased system.
In California, homeowners going solar next year will also be grandfathered in to the current, limited Net Energy Metering program. Currently, NEM offers customers full retail credit on all exported electricity and allows the customer to size their generation to meet their annual load instead of the peak demand. This allows for a slightly smaller system to meet the load than would otherwise be required because of seasonal variation in both the demandfor electricity and the solar resource itself.
While nothing is certain, it is possible that things will change with Net Energy Metering 2.0. The rules for Californias Net Metering 2.0 have not yet been decided upon, but must be finalized byDecember 2015.
California Public Utilities Commission - cpuc.ca.gov
Want to save money next year and the 20+ years after that? Call us today to get started on a free solar assessment or click the banner below! We service San Diego, Riverside, Orange, and San Bernardino Counties.