Economics of Solar Energy

Going Solar Protects You From Rising Utility Costs

Residential solar systems protect you and your family against rising energy costs, hidden fees, and surprise hikes from your utility; while giving you access to clean, affordable, renewable energy. Plus, you will also reduce your carbon footprint.

In the U.S., almost 29% of carbon dioxide (CO2) emissions come from the electricity sector, and the majority are fossil-fuel based, like natural gas and coal. In comparison, most renewable energy sources, like solar, produce little to no CO2.⁸

There Are Several Ways to Go Solar — Some for Little to $0 Down  

Regardless if you choose to lease, prepay, purchase, or finance your new home solar system, at Sunrun  we make it our goal to help you go solar completely hassle-free. One of the main reasons we offer solar plans and residential energy storage products to match just about any budget. And if you choose a plan as BrightSave™ Monthly or BrightAdvantage™, you could switch to solar for no money down.

Save More with Home Solar Battery Storage Service

If your home is located where electricity prices are considerably higher vs. the rest of the nation and or experience from frequent power outages due to extreme weather; then adding a home solar battery storage service to your home solar system can grant you access to bigger savings and peace of mind.⁹ Always ave power when and where you need it most. 

Introducing, Sunrun Brightbox™. Brightbox is not just solar battery storage. It’s a holistic service created to give you maximum control on your electricity bill and reliable backup power during blackouts, along with professional maintenance and monitoring that may extend the life of your battery unit.

Solar ROI: What Are the Returns of a Home Solar Investment?  

Leasing or prepaying for the power a solar system generates will undoubtedly transform into serious, long-term energy savings. However, when you purchase your own solar system, the positive economic impact of solar energy is experienced to a greater degree.

Today’s solar systems are highly efficient and produce more power. Meaning, their payback periods have decreased significantly.¹⁰ In general, residential solar payback usually ranges between 5 to 10 years, depending on your property’s unique location and sun exposure time frames.¹¹

Average Solar Payback Period in Years by State

Installing Solar Panels May Increase Your Property Value

It's difficult to talk about solar economics, and not bring up home value. According to the Lawrence Berkeley National Laboratory (LBL), homes with solar panels sell for $15,000 (outside of CA) to $20,000 (CA) more than those without them.¹⁸

There Are Additional Solar Benefits When You Go Solar

To encourage a larger number of homeowners to invest in solar energy, governments, electric utilities, and other organizations offer attractive financial incentives, rebates, and tax credits to make solar more affordable. Incentives include the federal solar tax credit,¹⁹ Net Energy Metering (NEM) programs, Solar Renewable Energy Credits (SRECs),²⁰ residential property & sales tax exemptions,²¹ among others.

Take Advantage of the Economic Benefits of Solar Energy Today

Now that you are familiar with how the economics of solar works, find out how much you could save with Sunrun by requesting your free solar quote today. Our solar advisors are here to help you every step of the way.