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Solar Power Pricing Now on Par with Utility Power!
Aug 21, 2014
If I could tell someone the most significant development in the solar industry, what would it be?.....It would be that solar power pricing is now on par, or in some cases, even CHEAPER than utility power. In the last couple of years, solar energy has dived in price by around 60-70%!! This means we can generate solar energy on par with current utility rates...and guess what, when electricity rates are double in 15 years, the solar system will be delivering energy at the same low price the day it was installed!
With a larger residential systems, we can get the cost of electricity down to 9 cents / kWh over the 32 year life span of the system.
Here we are going to highlight a recently installed 12 kW system. We had to get a little creative with the design, but we were able to make this home NET ZERO.
- 3.18 / W purchase price: design, supply and installation
- 9 cents per kWh.
- $49,000 NET savings over the systems life.
- 32 year lifespan
- Provides protection again rising electricity prices
- As utility rates go up, your savings go up!
On the main benefits of solar is once it is installed, it provides energy at a fixed price. The below graph show the solar energy system delivering energy at the low price of 9 cents / kWh while utility rates increase at 5.19% / year (this is the actual inflation rate over the last 12 years).
As you can see in the above, in 10 years utility rates will be around 14 cents / kWh in 10 years and 22 cents / kWh in 20! Solar, on the other hand will be a cheap 9 cents / kWh! A solar system is an excellent way to protect against higher utility prices.
Below show the monthly savings of the solar system. The savings rate increase due to the increasing price of utility power. As utility rates increase, your savings increase.
We'd like to be able to quote you on your very own system! If you'd like to take the next step, please contact us to see how a system can save you money and provide cost stability >>> Residential Solar Contact
F: 403.343.6455