Solar vs. grid power: how much can you save?
Electricity rates are on the rise. The U.S Energy Information Administration (EIA) estimates that electricity prices in the U.S. rose 6.2% in 2023 alone.
Homeowners across the country are looking for ways to reduce their energy costs and many are turning to solar energy. But just how much can you save with solar and is it worth the investment?
Solar customers can often save tens of thousands of dollars over the lifespan of their solar system. To determine exactly how much you can save, you’ll have to do a little math.
Compare your current cost per kW from Delmarva Power with the cost per kW of your solar system. Then calculate your monthly or yearly expenses across a 25-year period. Finally, subtract your total cost of energy with solar from your total of energy from the grid to determine your savings
A simpler way to estimate your savings potential is to compare your current monthly energy costs with your projected solar payments. If your energy costs are higher than your solar payments, there is a good chance you will see savings.
At Solar Cost Calculator, we suggest that anybody paying more than $100 a month for electricity should consider solar.
What solar incentives Delmarva Power does offer?
Category : Financial Incentive
Website : https://dnrec.alpha.delaware.gov/energy-climate/renewable/assistance/
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, Agricultural, Low Income Residential, Institutional
Incentive Amount : Solar PV Residential: $0.70/W Residenital Leased/PPA systems: Not eligible Non-Residential: $0.70/W Certified Diverse Business: $0.80/W Non-Profit: $0.85/W Wind Residential: $0.85/W for first 5 kW, $0.25/W up to 50 kW Non-Residential: $0.85/W for first 5 kW, $0.25/W up to 50 kW Non-Profit: $1.75/W for first 5 kW, $1.00/W up to 50 kW Solar Water Heating (SWH) Residential: $1/kWh saved Non-Residential: $1/kWh saved Non-Profit: $2/kWh saved GeoThermal Heat Pumps Residential: $800/ton (first 2 tons), $700/ton (over 2 tons) Non-Residential: $800/ton (first 2 tons), $700/ton (over 2 tons) Non-Profit: $1,000/ton (first 2 tons), $800/ton (over 2 tons)
Implementing Sector : State
Category : Financial Incentive
Website : http://homeenergysavings.delmarva.com/home-performance-with-energy-star-program
Applicable Sectors : Construction, Residential, Installers/Contractors
Incentive Amount : Home Energy Assessment: Cost discounted to $100
Implementing Sector : Utility
Category : Financial Incentive
Website : https://homeenergysavings.delmarva.com/md/business/overview
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Federal Government, Multifamily Residential, Institutional
Incentive Amount : Small Business Incentives Up to 70% of the total project cost. You qualify if you use 100 kW of electricity or less per month. Medium and Large Business Incentives Up to 50% of the total project cost. You qualify if you use more than 100 kW of electricity per month.
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.delmarva.com/WaysToSave/ForYourHome/Pages/MD/RebatesAndDiscounts.aspx
Applicable Sectors : Residential
Incentive Amount : Appliances Heat Pump Water Heater: $1,600 Smart Thermostat: $100 Recycling Recycling Refrigerator/Freezer: $50 Recycling Room AC/Dehumidifier: $25
Implementing Sector : Utility
Category : Financial Incentive
Website : https://dhcd.maryland.gov/Residents/Pages/lieep/default.aspx
Applicable Sectors :
Incentive Amount : Direct installation, no cost to the recipient
Implementing Sector : State
Category : Regulatory Policy
Website : https://www.psc.state.md.us/electricity/community-solar-pilot-program/
Applicable Sectors : Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Agricultural, Multifamily Residential, Low Income Residential
Incentive Amount :
Implementing Sector : State
Installing and connecting your solar system
When you install a solar system in Delmarva Power territory, these are steps you can expect to go through:
Once you’ve hired a contractor, you will need to communicate with Delmarva Power to prepare the interconnection paper. Your contractor will handle most of these responsibilities
After the interconnection agreement has been finalized, your contractor can begin the installation process.
Once your system is installed, it needs to be inspected for safety and code compliance.
After the final inspection, you will receive a written notice within a few days that your system is approved to operate. You can turn on the system yourself or you can contact your installer for further assistance.
Most homeowners prefer to do it themselves. The whole process should only take 10 - 15 minutes.
Is solar worth it for Delmarva Power customers?
The short and sweet answer is a resounding YES. Going solar is definitely worth it for Delmarva Power customers. The average homeowner in _UtilityCompanyName_ can save an estimated #### over the lifespan of their solar system.
Going solar is a long game so you need to think several years ahead. It can take a few years to hit your break even period. But between net metering and solar incentives, you can drastically reduce that timeframe.
Want to get an idea for what it will cost you to go solar with Delmarva Power? You can use our Solar Cost Calculator to generate a customized estimate instantly. We take into consideration a wide range of criteria including location, electric bill, roof size, and other factors. Try it out today and start planning for your future.
