How Much Money Can You Save With Solar Power?

While the environmental advantages of solar power have been widely disseminated across the marketplace, many are still unaware of the various financial advantages that an investment in solar power technology can offer.

But with home energy prices rising seemingly on a monthly basis, many property owners are now wondering whether solar power could help them save more money.

In this article, Green City Plumber is taking a look at saving money with solar power systems!

Consider Solar an Investment for the Future

The cost to install solar power panels within your home is one area which surprises many who are first considering the solar option. Depending on the size of the system, your investment could be up to $20,000.

However, depending on your home energy costs, you may be able to save as much as 50-to-90 percent on your energy bills each month with solar power.

The return on investment will vary depending on both the size of your home and the type of solar power panels you utilize, but the financial benefits are clear.

MicroFIT Offering Financial Incentives

The Ontario governmental has long been a proponent of solar power initiatives. And the government’s MicroFIT program is indicative of their efforts to help Ontarians commit to solar energy.

Through the MicroFIT program, which was launched in 2009, the government offers to buy the energy that solar power systems create from the homeowners.

Homeowners with a solar power system that is 10kW or less in size will be paid a guaranteed price over a 20-year term for the electricity their solar power system produces. The electricity will be used within the province’s electrical grid to power areas across Ontario.

One of the leading benefits of the program is that the costs are intrinsically designed to cover the entire cost of purchasing and owning a solar power system. This means they will allow homeowners to achieve a strong rate of return for their systems.

The Environmental Choice that can Protect Your Pocketbook in the Long-Term

The financial benefits of solar power energy are clear to those who complete their research and speak to marketplace specialists on their options. While it might take a while to achieve a return on investment, the benefits for the long-term outweigh the costs of the solar power upgrade process.