Companies are offering rebate incentives for solar power use that could save homeowners possibly thousands of dollars.
Utah-based Rocky Mountain Power is among the energy companies nationwide offering rebates for solar power installation.
It’s hard to calculate exact savings that come from using solar energy, according to Brite Idea Energy, but in the long run that website says users can save 50 to 90 percent on energy bills.
“Although the actual system and installation fees will come at a cost, the electricity produced won’t cost you a dime,” said Leann Harms in her article on The Nest. “The money you will save on conventional electricity will eventually make up for the cost of the system.”
Savings predictions varied from $47 to $124 per month, depending on which state you live in, according to an article on One Block off the Grid.
Recently, solar power costs have gone down enough that it is becoming cheaper to install, experts say.
“Higher sales volumes have driven production costs of solar panels down to an all-time low,” said Norm Harris, CEO and president of Progressive Power. “This combined with rising power costs, tax incentives, and rebates such as the Rocky Mountain Power incentive program, has made it more affordable than ever to purchase a solar power system for your home."
It does cost to install solar energy systems, but along with rebates offered, the government offers tax incentives. Tax credit is given on 30 percent of cost with no maximum, according to Database of State Incentives for Renewables and Efficiency.