absolute cheapest way to get solar
If you’re one of the lucky people who are able to pay cash for solar, this is the absolute cheapest way to go! Once you pay for solar, every month, the amount you would’ve paid to Rocky Mountian Power, Washington Power, or St. George Utilities goes straight back into your pocket! Essentially, you’re becoming your own bank. (Way to go!)
How to Calculate Your Return On Investment (ROI)
If your solar cost $18,500, you will get back $4,810 from the Federal Tax Credit (26%) and $1,600 from the state tax credit. Giving you a NET amount of $13,690.
Let’s say your average power bill is $150 ($1,800 annually), to figure out your ROI, divide your NET amount ($13,690) by your Annual Power Bill ($1,800).
That gives you a 7.6 Year Return on your Investment. Not bad, especially when compared to your power bill which NEVER has an ROI because you never pay it off. Like magic, you’re creating an investment from a debt. (Watch out Warren Buffet 😉)
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