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What Potential Home Solar Energy Customers Need to Know – Part 2
By Solar energy | September 1, 2008
Can solar energy eliminate my electric bill?
A home solar energy system can lower or even eliminate your electric bill. Provided you have enough physical space, you can install a photovoltaic system that will produce as much electricity as you use. In that case you could zero out your electric bill.
The initial cost for a complete system can seem huge. But with tax incentives, rebates, and net metering , the cost of your system can be significantly reduced. Manufacturers say that solar panels will last 25 to 30 years, and they guarantee them for 20 years. After the payback on your investment in the system, your electricity is free!
Even if you decide against a complete energy system described above, you can start with small solar energy components and reduce your electric bill. A solar water heating system is less expensive than a complete PV system and can give you a faster return on your investment. Rebates and tax incentives apply here too. As you’re finances allow, you can add solar powered energy in stages until you zero out your electric bill.
Home solar energy systems also serve as hedge against future energy price increases. In the last several months we’ve seen the price of oil drive prices of gasoline and food higher and higher. While home solar energy won’t help you much with your grocery bill, it can keep your home electric bill from reaching exorbitant levels.
Any form of home solar energy you are able to install now is the same as buying your home energy in advance at a fixed rate. When the payback for your solar energy system is reached, then the energy your system provides is essentially free.
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