Should You Go Solar?
Going solar can be a bit of a tough decision. With all the confusion out there, and lack of truthful information.
Well, it is great for the environment! Of course, you should. The decision can be harder than that.
You definitely have given this a thought, whether it is a quick thought when the salesperson comes knocking at your door or you have mulled over it. Well, I heard today to tell you about whether it’s right for you. Simple!
First, let me tell you a bit about me, I worked in solar for about 3 months. Yes, I know not super long, but let’s face it long enough. The door knock and the constant beatdowns were a bit too much for me. You think being a girl would change that, but NO! I got plenty of screaming told to go f--- myself many times. Long story short, over those three months, I learn all about solar!
How does it work?
Don’t worry, I’m not going to put you through the energy conversion less. Basically, these panels going on your roof, produce your electricity during the day. That electricity goes back into the grid and one of two things happens. Depending on what program you are in.
There is a program depending on where you are at, where National Grid or your electricity provider will pay you for the electricity you produce.
Two your meter goes up and down depending on your production and usage. Say you start at 0 produce 100 worth of electricity. Only use 70. Great news you have 30 dollars going to your next bill. Vise Versa you have 30 dollar bill to pay.
To figure out what works best for you, it’s best to get your calculation through a solar provider to find out more. How much electricity you produce can affect this.
Is it worth it?
Absolutely! Short or long term! Sound a little nuts right, but right now there are crazy programs out there.
The first of the two programs I just talked about. Constantly reduces your bill. You can even get money paid out to you if you're overproducing! It’s the best option!
The other thing is your federal rebate. Take the money and run with it or use it for your loan. It’s the lowest loan you’ll ever get or just use directly toward your future power.
Yes, I just said loan. Now, this might be hard to wrap your head around. When you think of a loan, you think of debt, right? Well, instead think of it as a way to prepay your electric bill but for cheaper.
So when you pay your electricity bill, is that a form of debt?… Yes, what are you going to do not pay it? Yeah, I mean, I guess you could live without electricity… well, maybe.
Think of it as a bill swap; you’re paying a loan instead of your electric bill. Plus, one day it will end!
Should I wait?
Honestly, no. There are amazing rebates and incentives, right now. Take advantage of it while you can.
What if I move?
The loan is transferable or just pay off your loan with the money you get from selling. And be sure to add on that amount to the cost of the home plus an extra 10k or so! Since you are paying off someone’s electricity bill for the next 30 years or so.
Well, now that I told you all the good... We have to consider the bad.
If your debt to income ratio is too high, maybe it’s not for you. But 100-200 a month might be okay to not set you over the top.
If you are moving within the next year, it is a lot of waiting around to go through and be worried about moving, but on the flip side, you could still take the federal rebate.
Think of any more? or have a question? Comment below and I will give you my thoughts!
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