Arizona homeowner David Fero knew his solar setup was saving him money on energy, but he wanted to expand what his system could do. Now, after upgrading his setup using game-changing tax credits, Fero is enjoying near-zero electric bills — and showing how solar can pay off in a big way.
As detailed in a feature by nonprofit Solar United Neighbors, Fero first installed solar panels on his house over a decade ago, which offset some of his electrical needs. But with an electrified home and two electric vehicles, he needed more panels to go fully solar.
Using tax credits and an installer-provided discount, Fero paid $7,000 for a new 6-kilowatt roof-mounted system. With this new system joining his existing 6.9-kilowatt setup, Fero can now comfortably meet his daily energy needs. And in the system's first three months of operation, Fero's electric bills were just $1.50.
"It makes financial sense," Fero told Solar United Neighbors of solar panels. "You get your payback within a reasonable period … and you have a significant part of the [upfront] expenses paid for by your tax credit."
To help ease some of the initial cost of going solar, the government offers tax credits to cover 30% of home solar purchase and installation costs for eligible homeowners. It's courtesy of the Inflation Reduction Act, Congress's biggest clean energy and climate action to date.
Claiming these government incentives is surprisingly easy, thanks to EnergySage. Billed as the "Expedia of solar," EnergySage can help determine how much solar panels could save you. The free online resource can give easy, fast solar installation estimates and compare quotes via its comprehensive tools.
As Fero's story highlights, going solar is one of the best ways to save money on home energy. According to EnergySage, you could save anywhere from $28,000 to $120,000 over 25 years when installing solar panels. The average homeowner can expect solar panels to pay for themselves in about 7.5 years, per EnergySage. Even if you don't remain in the same house that long, solar panels can increase the value of your home when selling.
Solar power is also one of the least polluting energy options available to homeowners. Solar helps reduce reliance on the grid, which still draws energy from polluting sources. Recent United Nations data suggests that 79% of all power comes from dirty energy sources like gas, oil, and coal. The UN also reports that dirty energy sources are the largest contributors to planetary warming.
"It [doesn't make sense] to burn fossil fuels to generate electricity when you can generate it just by putting something on top of your house," Fero told Solar United Neighbors. "If something makes sense, you do it. And solar, to me, makes sense."
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The cost 💰 But solar savings may not be available forever. President Donald Trump has suggested plans to dismantle the IRA, which could reduce or eliminate government incentives for climate-minded home renovations. Major changes to the IRA would ultimately require an act of Congress, but given the uncertain future, taking advantage of IRA incentives sooner rather than later could save you thousands.
If you're considering solar, make EnergySage your first stop. With game-changing tools to help make solar savings easier to navigate, saving money and helping the planet just got easier.
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