A. Let’s first look at the cost of doing nothing. If you continue to rent your electricity from the utility, an average home owner will pay out more than $30,000 over the next 25 years. The electric bill provides no financial investment in your home.
However, solar provides a sound financial investment into your home. the average solar system (5kW) in the Duquesne Light territory will cost about $14,000 (after the 30% tax credit) and will save a homeowner about $15,000 over the next 25 years after paying off the system. Even with a loan, a solar owner is still predicted to save money over the life of the system. A monthly loan payment is often equivalent or less than the monthly electric bill. Your savings depend on the size of the system you choose, your annual electrical usage, electricity rates, and any financing option that you choose from your Solarize installer. The solar installer will be able to tell you how much electricity your new system is expected to produce on an annual basis and then compare that number to how much electricity your household uses to get an idea of how much you could save. Additionally, a homeowner’s savings are affected by the financing package chosen. Installers can also help you determine how much money you could save since electricity prices from the utility are expected to rise over time, whereas the price of solar remains the same over time.