|Solar Farm: What's good for the mouse, is good for you too!|
First, of course, do those energy efficiency tricks that cost very little: smart thermostats, caulk windows and cracks, and improve your insulation. Your favorite power company will do an energy audit so you can get a check list of things to do. The typical building can save 15% to 25% on simple and cheap energy savings. Monitor usage, because the biggest culprit may be humans with bad energy usage habits. Insulation in the attic could have a 3 to 4 year payback and reduce your electric bill by 15 to 25%. Now with the lower energy usage, you should consider adding Solar.
Solar can be a Good investment in many cases, like Residential. But it can be a Crazy Profitable investment for Businesses. The renewable investment tax credits (ITCs) drop down again at the end of 2020, so now is a great time to think about it.
SBP has done several detailed financial calculators for analyzing both residential and commercials solar projects. Here are articles discussing both:
- Quick Take on Residential Solar: Solar Invest 2020: Do Good and Save Money Too
- Full Financial Analysis: SolarInvest2020: Residential Solar is Good, but Commercial Solar can be Crazy Profitable!