Solar power: amazing not only for its potential to preserve the environment, but for its unique ability to shrink your energy bills down to a figment of your imagination.
And since we’re all about saving you money on your energy bills, today I’d like to share a beautiful infographic from the folks at 1BOG, or 1 Block Off the Grid. They specialize in group buying of solar systems, which drives costs down for all parties involved.
The company mission is simple: get a group of homeowners together that are interested in going solar. Work with local solar installers and facilitate the negotiation of group solar purchasing (usually at significant discounts).
Lastly, give the neighborhood the special experience of coming together for the good of the environment.
It really is win-win.
Having blogged about 1BOG’s progress and expansion to the East Coast, we’ve watched this grow from a good idea to a nationally renowned solar movement.
And with solar costs coming down all the time, I’m sure it’ll only pick up speed.
To get pricing on a solar installation in your area, click here.
Some important highlights from the infographic (located below):
- With a medium-sized solar system, the average family in San Francisco can save $139 per month, or $1,664.40 per year in energy costs. This is huge, considering that typical families in the U.S. spends less than that ($,1255 per year) on annual energy bills.
- The average payback period on home solar power installations is six years. If you live in states with highly successful, generous incentive programs like New Jersey, California (especially Oakland, San Francisco and Los Angeles), Massachusetts and Pennsylvania, that payback period can be reduced to just four years.
- I’ve talked about how solar panels drastically increase your home’s value. It turns out you can fetch 17% more when it comes time to sell, and on top of that, find a buyer 20% faster if you have a solar array installed. But believe me, the perks don’t stop there.
- SRECs, or solar renewable energy credits, can actually be a huge moneymaker for solar households. In New Jersey, says 1BOG, solar homeowners earn between $5,000 to $7,000 per year on average just for owning solar panels. This is presumably once their system has been paid off, and they are able to trade energy credits for cash on the SREC trade market. Not all states have implemented SREC programs, however. Check with your solar contractor for more information.
What if Solar Were On Every Family’s Roof?
Do these figures change your mind about solar?
I’m curious: does it make a difference when you can see the cost savings of solar laid out so neatly in front of you? Do you think others will see its financial appeal?
Let me know in the comments below.
Thanks to 1BOG for the infographic!
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