As electricity costs from the grid continue to rise in Vermont, the value of solar energy grows stronger for both homeowners and businesses. By generating your own power from sunlight, you can significantly reduce your utility bills and save more money over time.
Below, we break down how the value of going solar increases year after year, and why it will remain a smart investment in the future.
25-Year Cost Comparison: Utility vs. Solar
The chart below shows the projected electricity costs a Vermont homeowner could spend over the next 25 years compared to the cost offset by a 12.9 kW, 30-panel rooftop solar system.
Assumptions:
- 3% annual electric inflation rate
- 0.4% annual module degradation rate
Key Findings
In this example, a Vermont homeowner without solar could pay the utility company more than $98,000 over the next 25 years. The same amount of electricity could be generated with solar power for approximately $53,480, resulting in savings of about $45,000 if the system is paid for upfront. If the system was financed using a 10-year 5.5% solar loan from our partners at EastRise Credit Union, they would still save around $34,000.
Going solar is a smart way to save money and take control of your energy costs. You can save tens of thousands over time while contributing to a cleaner planet. If you’re interested in exploring solar for your home, reach out to us today at Green Mountain Solar!
