By Zachary Maresh
CEO, Retcon Energy, LLC
Solar, it is a buzz word that is gaining popularity daily. You have Elon Musk with Solar City making waves with fancy solar roof tiles, as well as advocates for “green energy” raving about it powering an all-electric future. Ever wonder why every house in the U.S. doesn’t have it already?
Solar has a cost. I have obtained quotes for my home – at a modest 2,000 square foot size – ranging from $28,000 to $60,000. My average monthly electric bill is $100. The more expensive options have battery storage backup, which can help keep your food cold during a power outage for several hours. People selling solar are quick to point out the Federal Tax Credit, which is now 22% in 2021. This certainly helps, but you need to be able to offset enough of your energy bill to make the financial case for solar properly. Will energy costs go up? Look at the cost increases of many goods, inflation, and the electrification project by our current administration, and the answer certainly seems to be yes. Done correctly, solar can be a hedge against higher energy bills in the future.
Perhaps your interest in solar is environmental. Solar can lower greenhouse gas emissions, but often must have fossil fuel power plants on the grid to provide backup. Future battery technology and microgrid technology may change this, but those will also come at a cost, one you will likely see on your energy bill. If you are pursuing off-grid solar, and you can maintain your system, then your system will not have the fossil-fuel backup problem.
Solar, Should you get it? Ask yourself what your goals are: Lowering your current electric bill, environmental, storm-backup, or hedging against future energy cost increases are all possible goals. Once you understand your goals, ask yourself what your average electric bill today is and your current monthly electric use per month is. This and the value of solar production will help you determine your payback period (along with the tax credit).
You may not have the time to do these things. If you are unsure of your average bill, average monthly use, or have questions about solar, Retcon Energy, LLC is here to help. We offer a range of services, from energy bill analysis, solar, an energy audit, and a product that tracks your electrical use in real-time for your home or business. Call us at (256) 656-7654, email us at email@example.com, or message us on social media at: retconenergy to get started. We look forward to serving you!