Cost & Payback

Cost of Going Solar

How Size Matters

The cost and benefits of solar panels varies from home to home, depending on the size of the system. The larger the system, the more panels you have and the more your electric bills go down. You choose your system size based on what portion of your electricity needs you want your panels to supply. The size of your system is limited only by your available roof space. It’s possible to supply 100% of your home’s electricity from solar panels, but most solar homes are “hybrids”, with part of their electricity coming from panels and part from the utility grid.

Incentives Make Solar Affordable

The combination of government and utility incentives can drive down the cost of your home solar installation by up to 70%! Federal, State, and Local governments, along with utilities, are pitching in to lower the cost of your solar panels because solar is a great investment for them as well as for you. If you choose to lease your solar system, you still benefit because most of these incentives transfer to your system owner.

The Federal rebate is very straightforward: it’s 30% off your installation price. Most states have some kind of rebate or grant program that provides reimbursement to homeowners for solar installations. There are also a variety of local incentives that might be available to you depending on where you live. The incentives require some paperwork, which Astrum Solar will take care of for you.

Get more details on incentives and rebates in your state here.

Solar Renewable Energy Credits

Most states have laws requiring utilities to produce a percentage of their electricity using renewable sources of energy (or pay a fine to the state). The utility can meet this requirement by buying Solar Renewable Energy Credits (SRECs) from solar homeowners. It’s a win-win-win situation! You get money from the utility for putting up solar panels, the utilities don’t need to become experts in adding solar to roofs, and the state gets more solar installations.