Top 5 Reasons Homeowners Won't Go Solar

The First of The 5 Reasons Homeowners Won’t Go Solar Is the price because home solar systems are a high-ticket item. Home solar systems are high-value items that come with a hefty price tag. When you consider it, investing in a home solar system can be one of the most expensive purchases in a lifetime. Only a home, automobile, roof replacement, or swimming pool costs more than installing a solar system for the average homeowner.

The First of The Top 5 Reasons Homeowners Won't Go Solar Is The Cost

Initial Cost: Many people assume that the upfront cost of installing solar panels is prohibitively high. However, the reality is more nuanced. When considering all the factors, home solar is the only thing you can do to a home that is an investment. While the initial investment can seem daunting, there are tax credits and financing options available. On average, a basic package for personal solar panels, including installation, ranges from $12,000 to $60,000 after tax credits. Over time, the return on investment positively makes the initial cost worthwhile.

Cost of Power from a Residential Solar System Versus The Cost of Power from Your Local Utility

Sample System Size

9.5K System for a Conservatively Produces 14ooo kilowatts Per Year

Cost Per kilowatt from The Power Company

21.6 cents per Kilowatt Including Fees and Taxes based on the sample bill below. This means a 9.5K Solar System will produce conservatively enough energy for a $216 a month power bill, which is based on an extremely conservative estimate of production.

Cost Per Kilowatt for Solar

2.60 Per Kilowatt for a total cost of $24,700

Deduct 30% Tax Credit* of $7410*

$1.82 Per Kilowatt for a total Net Cost of $17,290

The Power Company Charges $216 per month totaling $2592 a Year.

Based on $2592 a year a home solar system will offset the original cost of $17,290 in a little under 7 years, at which point you will be banking a minimum of $216 a month for the remainder of the life of panels designed to last 25 years or more.

Total Solar Savings for 20 Years

Over a 20 Year period you will have paid a minimum of $51,840 to the power company based on a $ 216-a-month power bill. You will have paid $17290* for the same power with solar. This equation does not consider power company price increases over the next 20 years. Based on paying $51,840 to the power company over a 20 year span the total cost of a home solar system without utilizing the tax credit for a home solar system is still a great value.

This Sample 9500K Solar System will Generate a Minimum of $34,550 Profit Over a 20 Year Period!

*Solar Tax credit requires an annual income tax liability. The tax credit is available for the first 5 years of your solar purchase. We highly recommend consulting with a tax expert to determine if you qualify for the tax credit.

The above example is an estimate because of the variables involved with solar production, such as the direction the panels face. Home solar consumer protection laws do not allow a solar company to guarantee what a solar panel system will produce. Most companies are fairly accurate because of the comps available for a home’s local area.

The Second of The Top 5 Reasons Homeowners Won't Go Solar Is The Lack of Awareness

The second of the top 5 reasons homeowners hesitate to go solar is lack of awareness. Many homeowners may not fully understand the advantages of solar energy or the available incentives. Raising awareness about the environmental impact, long-term savings, and government programs can encourage more informed decisions. While homeowners are aware that home solar exists, unfortunately, far too many remain skeptical about the true benefits it offers.

Let’s be clear; home solar is no different than the inception of the automobile, no matter how much you resist, home solar power is here to stay forever. It required convincing that cars were the way of the future, with enormous benefits for the public. A Home solar system offers numerous advantages, with no downside, leaving no valid reason for homeowners to delay adopting solar energy.

The Cost of Power from the Utilities is Only Going Up!

Over the past four years, the cost of energy has risen across the board. Home solar has become more affordable in 2024 than it was in 2018. There will never be a better time to go solar because the power companies will continue to raise rates. So, the sooner you go solar the sooner you are insulated from the utility price hikes and get a better ROI.

The Third of The Top 5 Reasons Homeowners Won't Go Solar Is Procrastination

The Third of The Top 5 Reasons Homeowners Won’t Go Solar Is Procrastination because If they wait the cost of home solar will come down. Change is hard, even when changes are in our own best interest, home solar is a change for the better.

Home solar systems are a long-term investment that pays great dividends using the power companies’ money. In the history of home owning, there has never been a free opportunity to make money guaranteed! The problem with procrastination is you put off till tomorrow what could be done today, the next thing you know 15 years of tomorrows have passed by.

Some things earn real dollars making them worthwhile, home solar is one of those things. It’s not about politics or ideology, it’s about Making MONEY from your own power plant!

The Fourth of The Top 5 Reasons Homeowners Won't Go Solar Is " The Time Factor"

The fourth of the top 5 reasons homeowners won’t go solar is the time it takes to get a good return on investment. Numerous homeowners grapple with uncertainty about whether they’ll remain in their homes long enough to reap the benefits of solar power. However, home solar systems offer a dual advantage: they enhance the home’s value insuring a homeowner’s initial investment.

Consider this: who wouldn’t appreciate escaping the hassles of dealing with a utility company? For a new homeowner, the prospect of breaking free from the power company is enticing. Moreover, installing a home solar system yields both short-term and long-term gains. Interestingly, many homeowners, despite their initial doubts, find themselves still residing in the same home 7 or 8 years down the line—a testament to how swiftly time passes.

The Fifth of The Top 5 Reasons Homeowners Won't Go Solar Is "The predatory Sales Model"

The fifth of the top 5 reasons homeowners won’t go solar is since the landmark Florida home solar legislation passed in 2015 (163.04) the home solar sales model has become predatory. In Florida January 2017, only a handful of expert home solar installers existed, in a state with over 19 million people. The owners charged high rates offering warranties they wouldn’t honor because they were going to take the money and run, and far too many solar companies did exactly that.

The initial surge in demand created a situation where solar owners could selectively choose customers who were interested in solar and willing to pay a premium to get it. Between 2017 and 2019, solar companies faced an overwhelming workload, leaving only those willing to pay a higher price to secure home solar installations promptly. Unfortunately, there was little advocacy for the home solar consumer due to the limited awareness of this new market trend.

However, the sales approach of using predatory tactics to sell home solar turned off many potential buyers. Numerous solar customers had negative experiences and didn’t hesitate to share their dissatisfaction with friends and neighbors. Interestingly, their discontent wasn’t related to solar system performance but rather the cost.

Over time, the initial sales model for home solar has waned due to increased competition and a more informed customer base. Solar companies are now highly competitive, resulting in satisfied customers who enthusiastically recommend home solar to others. The numbers don’t lie: home solar is a compelling investment in 2024, thanks to its promising return on investment (ROI).

FLORIDA SOLAR REPORT

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