No homeowner or resident wants to deal with sky-high energy bills just to live comfortably, and many people are looking for ways to limit these bills. A great candidate here that also improves your property's eco-friendliness and sustainability practices: Utilizing solar power.

At Intermountain Wind & Solar, as one of the top solar companies across Boise, Idaho and Salt Lake City, Utah areas, we offer the very best commercial and residential solar panel installation services you'll find. We've helped numerous residents save money on their energy bills while also realizing the other benefits of solar power, including a more sustainable property. Here are some of the specific ways solar power for a home can help reduce energy bills.

Creating Your Own Power

Naturally, the largest way in which solar power helps reduce energy bills is by creating a portion of your own energy. Instead of relying solely on the traditional electrical grid, you can harness the natural and renewable power of the sun to create electricity for your home. This reduces your reliance on utility companies and their fluctuating rates, ultimately leading to cost savings for you as a homeowner.

For instance, with a properly sized solar panel system, you can offset some or even all of your energy usage from the grid. This means you'll no longer have to pay the full price for electricity from your utility company, saving you money each month.

Net Metering

Another great way that going solar can reduce your energy costs is through net metering. This is an incentive offered by many utility companies that allows homeowners with solar panels to sell excess energy generated back to the grid. Essentially, if your solar panels produce more energy than what you use in a given billing period, the surplus amount will be credited towards future bills.

In states where net metering policies are in place, this can result in significant savings on your energy bills. It's important to check with your local utility company to see if they offer net metering and what their specific policies are.

Tax Credits and Incentives

On top of the potential cost savings from producing your own solar energy, there are also various tax credits and incentives available for homeowners who make the switch to solar. These can vary depending on your location, but many states offer tax credits or rebates for installing solar panels. In addition, the federal government offers a 30% tax credit for residential solar installations through the end of 2022.

These financial incentives can greatly offset the initial cost of installing solar panels, making it an even more appealing option for homeowners looking to save on their energy bills.

Long-Term Investment

Going solar is a long-term investment that can lead to significant cost savings over time. While the initial cost of installing solar panels may seem daunting, the return on investment (ROI) is typically seen within 5-7 years. After this point, you'll essentially be producing free energy for your home and will continue to see savings on your energy bills for the life of your solar panel system.

In addition, solar panels have a lifespan of 20-30 years, meaning you'll continue to reap the benefits of reduced energy bills for many years to come. This long-term outlook makes solar power a wise financial decision for homeowners.

Battery Storage

One major facilitator of increased energy costs is peak hour pricing, where electricity rates are higher during peak usage times. However, with the integration of battery storage technology, homeowners can store excess solar energy generated during off-peak hours and use it during peak hours to avoid these higher rates.

Not only does this help reduce your energy bills, but it also allows you to have more control over when and how you use your own power. This further increases the value and cost savings of going solar.

Utilizing solar power for your home not only helps reduce energy bills by creating your own power and taking advantage of financial incentives, but it also offers long-term benefits and opportunities for even greater cost savings through net metering and battery storage. Make the switch to solar today and start seeing the positive impact on your energy bills and overall sustainability practices. 

So why wait? Contact Intermountain Wind & Solar now to learn more about installing a customized solar panel system for your home. Together, we can make a positive difference for both your wallet and the environment. Our team is here to help with solar panel installation needs around SLC, Utah and Boise, Idaho areas!