Solar- An Investment like none other


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Solar- An Investment like none other

Investments are very important. There are many ways we can invest our hard earned money. Typically the higher ROI, the higher the risk. We have to try and balance what we can afford to pay and how much risk are we willing to take. Most investments are paid in with money we have left over after the necessities are taken care of. We may have $100 or $1000 left over to invest, over time it makes a big difference. Investing in solar is different. We will have to buy our solar system with our hard earned money just like we would with any investment, however the difference is we will be taking the money from our power utility and using that to pay for our investment. The only risk to solar is, the sun has to rise each day. Without solar, we will be paying our utility forever, there is zero ROI. We will also be subject to price increases year in and year out. If our power bill averages $150 per month today we will pay over $23,000 over the next 10 years. We can take that $23,000 and own our solar system. Then for the next 40 years we will enjoy not having to buy power from the power companies. We can continue to make other investments as our solar is not cutting into our excess money.

We average about a 5% increase annually in NC with our utility companies. If your monthly average for power is $150 today it will be $182 in 5 years and $233 in 10 years. The chances of us averaging 5% over the next 10 years is slim. In October Duke requested a 14.3% increase for renewable technologies. We are still looking at a 10 billion dollar coal ash clean up and a $800 million dollar storm cleanup. WIth solar any and all increases will not affect us as our solar panels will be producing our power. Go solar, it's a great investment. 


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