What you Need to Know about Solar ROI and Why You Need to Act Now!

Investing in solar energy is an essential move for those looking to save on costs, increase property value, and reduce their carbon footprint. Solar customers enjoy quick return on investment and a swift payback period for those in contract before April 13th, 2023.

Solar Incentives and Tax Credits in 2023

Currently, the federal Investment Tax Credit (ITC) allows taxpayers to take advantage of tax credits equal to 30% of the cost of a solar system. This credit is a dollar-for-dollar reduction from the income tax you owe that year.

The Payback Period

The amount of money you save on energy costs depends on the amount of electricity you consume and the rate you pay for electricity. The payback period is the time it takes to recoup your investment. A faster payback period means a higher ROI, so working with the DC Solar Electric team is essential to ensure your system is appropriately sized for your needs to maximize your energy savings. 
The current estimated payback period for a system is 5-7 years. However, recent changes from the California Public Utilities Commission drastically affect savings for new solar customers. Once the latest Net Energy Metering Initiative (NEM 3.0) goes into effect, the payback period could be as long as 9-12 years. Thankfully for you, you have until April 13th, 2023, to start the process and be grandfathered in under NEM 2.0 before it’s gone forever.

Net Energy Metering (NEM) Locking In Your Savings

Net Energy Metering ( NEM ) is the agreement between solar customers and utility companies. With NEM 2.0, you can lock in the best rate for the next 20 years and maximize your savings on energy costs. By reaching out to our team and submitting your interconnection application before the April 13, 2023, deadline, you’ll have the opportunity to secure your savings to make the most of your investment in solar energy.

Maximize Your ROI Before Its Too Late

In conclusion, investing in solar energy is a financially wise decision that starts saving you money right away. By understanding the costs involved, calculating your savings over time, and locking in your savings with NEM 2.0, you can maximize your ROI and enjoy the benefits of solar energy for years to come.

P.S. We are urging our customers and potential buyers to ACT NOW! We expect an influx of applications and a large number of outbound interconnection applications, and we DO NOT WANT YOU TO MISS YOUR OPPORTUNITY.

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