solar-energy-savings-investementMoney is something we all use and need to get by in today’s economy. Though all work and no play makes for a very dull life. Susie Steiner was a nurse who wrote an article tilted the “Top five regrets of dying”, in which she mentioned 5 of the most regretted actions in the lives of the those she worked with:

  1. I wish I’d had the courage to live a life true to myself, not the life others expected of me
  2. I wish I hadn’t worked so hard
  3. I wish I’d had the courage to express my feelings
  4. I wish I had stayed in touch with my friends
  5. I wish I had let myself be happier

Life is a gift and one that should be lived as full as you can make it. Bills, responsibilities, and bumps in the road can get in the way of retirement, buying a car, savings, and more. If you could get rid of a common bill and put that money towards savings — or even back in your pocket — we believe it could make a big difference in your life.

Save Money Today with Solar Energy

Your electric bill may seem like a small worry in life and nothing sizable enough to worry about. Though I’d like to show you what you could do with the money if you apply it to a savings account.

When you get a quote from Belmont Solar, we also give you what your savings will most likely be in a 25-year time span with solar. We have found that on average with our customers is $40,000 in savings, which is about $1,600 a year. 

Imagine what you could do with $1,600 a year!

I’d like to show you what could happen if you were to save at least half of this savings ($800) in an investment account. With compound interest, this money will grow every year you have your solar arrays. And note that this does not factor in higher interest rates and increases in energy costs, which will only save you more money.

Investing Half Your Savings from Solar

Starting Deposit: $1,000; Annual Deposit: $800

 

Capital One
Interest: 1.00%
Goldman Sachs
Interest: 1.05%
Year 1
$1,813.64
Year 1
$1,814.33
Year 5
$5,150.78
Year 5
$5,158.49
Year 10
$9,514.28
Year 10
$9,541.03
Year 15
$14,101.40
Year 15
$14,159.69
Year 20
$18,923.61
Year 20
$19,027.20
Year 25
$23,99.96
Year 25
$24,156.96

 

If you could invest all your savings from solar energy ($1,600 per year), you could receive a whole lot more in 25 years:

Investing All Your Savings from Solar

Starting Deposit: $1,000; Annual Deposit: $1,600

 

Capital One
Interest: 1.00%
Goldman Sachs
Interest: 1.05%
Year 1
$2,577.22
Year 1
$2,578.08
Year 5
$9,046.13
Year 5
$9,058.66
Year 10
$17,504.61
Year 10
$17,551.52
Year 15
$26,396.58
Year 15
$26,501.95
Year 20
$35,744.26
Year 20
$35,934.62
Year 25
$45,571.00
Year 25
$45,875.50

 

Additional Solar Savings

Of course, these charts are just a guide, and you will want to work with your financial advisor or accountant to ensure you are making wise choices. But more and more people are choosing solar as a way to hedge against always-rising energy costs and to save significant money each year. Plus, when you install a solar system on your home, you get a 30% tax refund from the federal government on the cost of the installation. This is a great way to jump start your savings.

The value of solar doesn’t end with a dollar sign. Solar power has value to the environment by providing clean, reliable energy to the environment and your family. Solar currently has a 25 year warranty on most solar panels, reassuring you that solar is made to last for decades. So you are not only getting rid of a bill, your taking care of your family’s financial future by installing a solar array.

solar installation

Installing a solar array is an investment pays off in the long run

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