Energy Tech Tips Community

Understanding Solar Power Savings

Many people don’t consider switching to solar energy because they don’t think it’s possible. But tapping into solar savings doesn’t need to be difficult! Depending on where you live, there are many different ways solar panels can fit into your lifestyle to help you save money and the environment.

When to use Solar

Solar power is not just for homeowners in sunny states. If you think your home is perfect for installing solar panels, you’re lucky and should look into it today. The return on investment on solar panels is well worth the time and effort. If you don’t have the right living situation for solar panels but are still looking to support solar power – or even just save some money on your power bill – there has never been a better time to look into what community solar options are available to you.

Why using solar saves you money

Solar panel costs have been dropping quicker than expected. Bloomberg New Energy Finance forecasted that prices for solar modules will drop from 61 cents-per-watt in 2015 to 21 cents-per-watt by 2040. That average was around 37 cents-per-watt by the end of 2017. Thanks to incremental upgrades made to solar cells and technology, manufacturers have been able to reduce costs at an impressive rate. Seeking clean energy is no longer a commodity - instead, it has become the economic alternative to coal and natural gas.

Here are just a few more reasons why going solar is a smart choice:

  • Your electric bill could already be more expensive than what you would pay for solar energy.
  • You can earn incentives, tax rebates, federal tax credit, grants, and subsidies for switching to solar, depending on what state you live in.
  • Going solar reduces carbon emissions.
  • You can rely on your panels or grid to keep your lights on.

Arcadia's Solar Dashboard

Who can use Solar

Based on average electric bill costs, government incentives, amount of sunlight, and existing infrastructure, some states are better than others for implementing solar energy plans. You can even plug your address into this calculator to determine if your home is capable of solar power installations and how much you could save.

If you do not have a roof capable of sustaining photovoltaic (PV) panels, you can always tap into community solar!

Using Community Solar

Community solar involves no installation at all. You can subscribe to a community project in your area, or even look into tapping into a community solar project in another state through Arcadia. The panels you purchase are hosted somewhere else, you can choose how many panels fit your budget, and you will receive your savings each month depending on how much power your solar panels generate. No matter what state you live in, how much sun you get, or if even if you are just renting, community solar is a great option for anyone.