Is Home Solar Worth It in San Antonio?
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Because of the push for more solar, installations have popped up everywhere. For Texans, however, the choice to invest in something isn’t determined by popularity.
Texans don’t follow blindly like a bunch of sheep off a cliff. Instead, we carve our paths and make our unique brand stand out in the crowd. That is why San Antonio homeowners must have a full understanding of the worth of solar in Texas.
Several aspects of solar make it a worthwhile investment. In Texas, there are a couple that stand out.
The Comparative Cost of Solar Arrays in San Antonio
Solar installations are not a cheap commodity. To have a residential solar array installed on an average home costs thousands of dollars.
At first glance, this seems ridiculous. However, when compared to alternative utility costs over the life of the solar array it isn’t that bad. It is actually the cheaper option.
There are a couple of things that make solar cheaper than utility-generated power. Some of these include inflation rates and metering policy.
The Impact of Inflation on Utility Rates
A dollar in 2000 has the same buying power as $1.52 in 2019. The current utility rates in San Antonio are cheap.
However, over time they will increase because the value of the dollar is going down every year. So, although the current average rate per watt of power in Texas is 11 cents, it will increase.
Solar panels, however, don’t have rate increases. The price the solar homeowner agreed on is the price they will pay. Solar saves customers money by locking in their rate.
Net Metering Policy in San Antonio
Although Texas doesn’t have state-wide net metering laws, many utilities offer some form of net metering — and San Antonio is no exception. The city’s main utility, CPS Energy, has net metering for solar customers along with solar rebates that they can take advantage of.
The Savings Solar Installations Provides Texans
Texans with solar on average save 31.7 thousand dollars over the life of their solar array. This has an average payback period of 12 years, which, when compared to the life the array, isn’t that much.
Several different factors go into the savings of solar. However, the inflation of the U.S. dollar and the metering policy of the utility does make a difference.
Another determinant of how much a solar customer will save is the financing option they go with. The most common financing options include cash, loans, and leases.
Cash is the best option because the customer doesn’t need to pay interest. People often don’t have this type of cash on them though, and often get loans or leases instead.
Leased solar arrays are the least beneficial to the customer. This is why Go Solar Group only offers cash and loan financing.
Solar Panels and San Antonio Home Value
Homes with average-sized solar arrays have sold for up to $15,000 more than similar homes in the same neighborhood without solar. This is happening because solar homes decrease/eliminate costs.
How much solar will increase a San Antonio home’s value is dependent on the area it is in. However, the fact that owned solar panels increase value is undeniable.
Another reason why solar in San Antonio is a great idea is the increased home value without increased property taxes. Texas gives homeowners with solar a 100 percent property tax exemption. This is a double win for solar generating homeowners.
These valuable insights into the savings of solar make it easy to see the worth of this investment. So stop letting your utility suck your hard-earned money out of your hands. Take control of your energy with solar.