A residential solar system is a long-term investment for you and your family. Nationwide, average utility rates have been on the rise for the last 30 years. There’s no evidence that this trend will reverse anytime soon. Going solar today will help you lower your electricity costs and put money back into your pocket.
Below is the average residential electricity rate increase, from 1990 to 2009, according to data from the U.S. Energy Information Administration.
|State||% Increase in Ave. Residential Electric Rate in 2009 from 1990|
Getting solar panels for your home is a great way to lock in low solar electricity rates and save thousands on your electric bill over time.
Going solar with Sunrun offers a better return on investment (ROI) and faster solar power payback than purchasing a residential solar system. This is because the upfront costs are lower with Sunrun. With an initial investment of as low as $0, the savings on your monthly electric bill can add up much more quickly to surpass your original investment.
You may even start generating returns on your investment as early as month one.
Investing in solar power can also help increase your home value and help your house sell faster. According to a recent 2011 study by the Lawrence Berkeley National Laboratory, solar panels add about $5.50 per watt to a home's resale value. This means that a 3.1-kilowatt solar system can add around $17,000 to the home's value.
In addition, according to the U.S. Department of Energy’s Office of Energy Efficiency & Renewable Energy, a home with solar panels will sell twice as fast as one without panels, even in depressed markets.
When you make other investments, you typically have to pay taxes on the returns you make. However, with a home solar system, your return is in savings, which aren't taxed.