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While the environmental benefits of solar electricity are well established, many homeowners are surprised to learn that solar is also a smart financial investment.
When Northwest Bakersfield homeowner Jerry Unfried and his family installed a 6.9 kilowatt solar system on their home they were motivated to do so for financial reasons.
“Last year our PG&E bill spiked pretty high,” Unfried explained. “We felt that because of rising electricity costs it would make investing in solar electricity worthwhile.”
Many homeowners who invest in solar electricity realize a positive cash flow from day one. This is because payments to finance the system are often lower then the homeowner’s monthly electricity bill. The extra cash freed up by the monthly and yearly electric bill savings can be set aside for college tuitions, family vacations, retirement or other needs. Solar electricity also has an attractive return on investment, or ROI —...
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