Solar PV panel systems in a field for commercial applications
Solar PV panel systems for commercial and industrial applications

Counter Rising Energy Costs With Solar Power

solar panels on roof of nice house with outdoor pond

It’s no secret that electric rates have steadily risen across the country. While cutting back on electricity usage may knock a few dollars off your bill each month, there’s a better way to find dramatic savings: solar power.

In fact, while energy costs have risen, the cost of solar energy systems has dropped to less than half of what it was a decade ago. Missouri residents have taken advantage of this, with an 18.87% increase in the amount of electricity generated from solar energy in the state over the last year. Keep reading to learn how solar power can help you counter rising energy costs.

Immediate Benefits of Going Solar

With more sunny days than the national average, Missouri is a prime place for investing in solar energy! We’re talking thousands of dollars in savings — up to $45,000 over the life of a system.

On a monthly basis, you’ll see your electric bill look dramatically different — potentially even coming in at zero a month. Think about it: You use the most electricity during the day, which is when the sun is doing all the work. That means you’ll only pay for the energy used at night. However, you can also set up a solar storage system that can cover that usage as well.

You can also save money with:

  • Higher home value: Homeowners across the U.S. are willing to pay an average of 4.1% more for a home with solar panels. That means you are saving money today and increasing your chance to put more money in your pocket later!
  • Re-investment opportunities: With those incredible savings, you have an opportunity to reinvest in your home. All those improvements you’ve wanted to make? An investment in solar makes them possible!

Tax & Rebate Incentives

Tax breaks are a major incentive to make the switch to solar. On a federal level, the Business Energy Investment Tax Credit can reduce the cost of your solar energy system by 26%, with no maximum credit. In addition to tax credits, most utility companies in Missouri offer significant rebates for solar customers.

How Much Does It All Cost?

The average upfront price of the residential PV system in Missouri is about $19,000. Deduct about $2,500 from that price from the rebate from local utility companies, and apply the 26% federal tax credit ($4,940), and your net cost is approximately $11,560. Remember that your PV system will instantly start building savings, roughly $750 the first year. Net expenses over the first year are reduced to only $10,800 — a competitive price for a 5 kW system.

Homeowners can expect a payback period of about 13 years on their investment and 12 years of free energy, meaning that you will enjoy a net profit of $17,500 over 25 years.

Make Solera Your Savings Partner

Ready to lower your electricity bills — forever? Solera Energy has been the region’s undisputed leader in solar energy solutions. We’ll help you transition to solar power with top-quality products and expert installation.

Transform your home with the power of the sun! Call us at (855) 650-7404 or fill out our online form to get started today.

How can solar work for you?

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