Energy is something on everyone’s mind. Luckily, you can save lots of cash long term by installing solar panels on your roof. Jason Gabrieli speaks to Kevin Davis from Spotlight Energy Solutions all about the considerations to make when evaluating adding solar to your home or business. Throughout the episode, they explore solar energy from a financial commitment and a financial savings perspective.
Kevin Davis is Head of Business Development and Energy Consultant at Spotlight Energy Solutions. Spotlight has been in business for 34 years and have their roots in providing quality electric work for their customers, eventually growing into a specialization in green energy solutions like solar and electric vehicle charging.
Tune in until the end to learn:
- How to make and save money from installing solar panels.
- How you can have your own independent power supply without relying on (and paying) utility companies.
- How to install solar panels without spending a single dollar.
[00:30] Who is Kevin Davis, Spotlight Energy Solutions?
[02:00] How the financial incentive to install solar panels has evolved in the last 10 years.
[04:43] Shady solar panel companies: what to look out for.
[06:32] 3 main ways to pay for solar panels on your roof (and you won’t need to spend anything).
[09:12] What the government pays you to install solar panels on your roof (federal and state government incentives for solar power).
[13:58] How much money do you lose by NOT installing solar panels on your roof (the cost of doing nothing).
[15:23] Benefits of having your own power supply and how to become completely independent from the grid.
[16:38] How can you have electricity EVEN when the grid goes down?
[17:27] How to get in touch with Spotlight Energy Solutions?
- Installing solar panels is a long term financial commitment. People need to be more informed about solar energy systems to get more comfortable with entering into that commitment.
- Do your due diligence when looking for a solar energy company to use. Find out which racking systems are most efficient and which systems prohibit the most leakages through the roof. Look for companies that offer an array of warranties so that you are not on the hook for any financial hurdles.
- There are many federal and state incentives that you can use to get paid for installing panels on your roof. For example: the federal investment tax credit. You can use government incentives to lower your energy bill. Having solar panels on your roof also can increase the value of your home.
- Utility companies legally have the right to increase your rates by 3% every year. You are not in control of the price of energy when you are paying a utility company.
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[02:44] “The technology (solar energy) has been around for decades, and decades, and decades, but finally it needs to make sense for people to do it ultimately”
[06:49] “There’s mainly 3 options (to pay for solar panels) and right now our company is really only pushing one just because of the financial incentives that are in place right now. So again, your best options are dependent on the incentives in place. Just to give you an overview, so the three options are: one purchaser system, leasing a system, and a power-purchase agreement”
[14:02] “Our goal whenever we design a system is to put enough panels on your roof where we are offsetting your past year’s electric use at 100%. So, the goal is to eliminate that electric bill, replace paying a utility company with paying yourself in equity, and then obviously you get your TREC proceeds on top of that. So if you take into consideration the federal investment tax credit, the TREC program, and energy avoidance where you are no longer paying a utility company you are in a much better cash savings position than when you were paying the utility company. This is what we call the cost of doing nothing...The cost of doing nothing is paying the utility company.”
[14:02] “Our goal whenever we design a system is to put enough panels on your roof where we are offsetting your past year’s electric use at 100%...This is what we call the cost of doing nothing...The cost of doing nothing is paying the utility company.”
[15:50] “More so than ever we’re reliant on our electrical grids, everything is becoming electrified...so having solar definitely adds an ancillary benefit that you can now become one step closer to becoming independent from the grid and be able to (in the event that anything shuts down) your solar panels in conjunction with lithium backup battery you are now completely independent from the grid. ”