Why Solar Matters To Me (Part 1- Economics)

Why Solar Matters To Me (Part 1- Economics)

Solar Panel; solar array; solar company; My name is William and I am the Business Development Manager at NM Solar Group. I have been interested in solar power for many years. I remember in elementary school going to an assembly in the cafeteria and learning about solar power and being in awe that I could one day power my own home like the astronauts in space. Of course this was the 1990's and solar PV systems were very expensive and the technology was a long way away from where we are today. Later, I dove deeper into my appreciation of solar power while taking classes in sustainability studies at UNM. Years have passed since those days and I have seen countless families (including my own grandparents) embrace solar power for their homes. I will be embarking on an ambitious solar system for my own home in the near future (look for a blog post chronicling the progress of that down the road) so it seems pertinent for me to explain why solar matters to me.

Economics

Solar just makes sense economically these days. With electricity rates continually on the rise and an ever-increasing demand for power comes an unsustainable expense for my family. It seems like for every step forward we make in terms of energy efficiency improvements (like LED bulbs replacements for CFLs and lower power requirements for TVs and computers) we take several steps back by adding new sources of power consumption (smart home devices, alarm system, cameras, and every new toy my son gets that all seem to require power for some reason). If we cannot reduce our consumption and rates keep increasing, our only solution is to take control of the power production side of the equation. We can install a modern solar PV system on our home, utilize a 30% federal tax credit, have a lower monthly payment than we are currently charged, and will own the system in 15 years (or less if I pay it off early as I plan to). The remaining life of the system (25-40 years) will cost me nothing except a small connection fee to PNM. These factors contribute to a solid return on investment for my family. In my next posting, I will discuss my desire for energy independence. In the mean time, if you live in the Albuquerque and surrounding area and would like to learn more about going solar from one of the leading Albuquerque solar companies, please give us a call at 505-415-6172 or Click Here to schedule a free consultation. NM Solar Group is here to help!
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