Make Money From Spending It On Solar Panels

You can get lots of money.  You can get a little money.  You can get zero money.  Which of these scenarios would you choose?  If you decide to go solar, you can pick from the first two choices, and claim your glory.  In many ways, your solar power system is a financial good, one that is capable of generating annual returns ranging anywhere from 10 percent to more than 30 percent. The ordinary HahaSmart shopper pays off their solar purchase in just seven to eight years and earns a robust solar ROI, receiving free power for the remainder of their solar panel system’s 25+ year lifespan.

You can determine your annual returns by dividing the financial benefits you receive each year by your initial investment in your solar power system. Many factors can affect your solar panel ROI, including:

Electricity Rates

How high are your current electric bills? This defines your savings over the life of your system. The higher your rates, the extra you can save with solar.

Financial Incentives

Are there local or state tax programs or rebates in your area that supports solar adoption? Are you a business or other enterprise that can take advantage of depreciation tax benefits, including accelerated depreciation? Higher incentives mean lower upfront expenses and a shorter payback period.

Solar Renewable Energy Certificates (SRECs)

Does your state or utility have a market where you can exchange the SRECs associated with your solar energy system’s electricity? What kind of income can you make by selling these SRECs? New revenue from SRECs will help you break even on your solar investment more quickly.

Cost

Did you examine your options to find the right payment? Were you able to take advantage of rebates and tax incentives that negate the value of your installation? Lower prices mean a shorter payback period.

Technology

How efficient is your system, i.e. is it generating electricity at optimal levels? A more effective system will offset a more significant percentage of your monthly electric bill.

Property Characteristics

How much sunshine is there where you are? Which way does your roof point? What is the angle of your roof? All of these determinants can affect your production levels.

Property Value Rises

How much does the price of your property increase when you install a solar panel system? Solar panel system ownership tends to raise your property resale value, while third-party purchase (e.g. leasing) does not.

Business Benefits

How much will your earnings increase because of your lower costs? What is the value of the goodwill your solar power system created? What level of profits is attributable to your green credentials? All of these determinants can increase your company’s return on solar investment.

Want to save and be guided by experts who do the research and know the answers? Go to HahaSmart.com and try our price checker tool. How much solar power you need and how much you can save on your energy bills each month.