What are the financial benefits of installing solar on my building?

Installing a solar PV system on your building instantly saves you money on electricity bills. You also lock in energy rates at today’s prices, protecting you from ever-increasing electricity rates. The amount of time it takes to pay back your system depends on many things, including electricity prices, energy consumption patterns, shading, rebates, and the contractor you choose for installation. As electricity rates go up each year, your payback period reduces proportionally. Over the 25+ year lifespan of your solar panels, your system will pay for itself in energy savings several times over. For example, a typical solar PV system will cost between $10,000 – $30,000.

Here’s what you’ll pay to your utility company for electricity company over 25 years (warranty of most solar panels and inverters):

  • $100 per month = $50,000 over 25 years
  • $200 per month = $100,000 over 25 years
  • $500 per month = $250,000 over 25 years

Why not pay yourself instead?

These calculations assume an annual average 4% utility rate increase based on historical rates

Some studies show that installing a solar system increases the property value up to 4% and when put up for sale, these properties sell faster too! All in all, installing solar is a safe, tangible and wise investment.