CONSCIENTIOUS LIFE
Going Solar
Are Solar Panels Right for Your Home ?
By Ryan Baggett
Reducing your home ’ s energy usage “ is a better bang for your buck ” than buying solar panels , according to Alexander Jarvis , President of Solar Systems of Indiana , Inc . There are many simple ways to save money on your home ’ s energy use , such as installing programmable thermostats , improving your insulation , and turning off lights and power stips in your home . Jarvis says “ it ’ s easy to save 5-10 % on your electric bill ,” especially if you can change wasteful habits .
Now that you ’ ve achieved all that , you might consider adding solar panels to your home — and vicariously , to the local electric grid . Skeptics argue that only the large-scale solar energy plants are environmentally sound and economically viable , such as the giant solar farm of the Indianapolis Airport , which sells enough power for 1,700 homes to Indianapolis Power and Light , according to Indianapolis Airport Authority . Residential dollars spent on solar don ’ t measure up when compared per Kilowatt-Hour ( kWh ) to such large-scale operations , but are sometimes made financially feasible thanks to our Federal Investment Tax Credit ( ITC ) which covers 30 % of the equipment and installation costs .
But the cost of solar panels has been rapidly shrinking over the last decade , and like death and taxes , increasing costs of electricity are inevitable . For homeowners that have the financial wherewithal , the initial investment in solar will currently pay for itself in roughly 15 years , with a net positive beyond that . For most homes this will cost $ 20,000- $ 30,000 to subtract 90-100 % from the electric bill . Adding this feature to your home is also bound to increase property value should you decide to move early .
Whether motivations are monetary , environmental or both , there are many
INDIANA & YOGA MAGAZINE ISSUE I 27