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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 Empire District Electric Co 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 Empire District Electric Co does offer?
Category : Financial Incentive
Website : https://central.libertyutilities.com/all/residential/ways-to-save/arkansas-electric-commercial-industrial-program.html
Applicable Sectors : Commercial, Industrial
Incentive Amount : Lighting Lighting Controls: $25-$135 Lighting Optimization: $6-$8 /fixture Lighting Fixture: $27-$90 /fixture LED Lamp Replacement: $7-$8 /fixture LED Parking Garage/Canopy: $40-$280 /fixture LED Wall Mounted Area Lights: $40-$280 /fixture LED Exit Signs: $17 /fixture LED Flood Lights: $40 /fixture HVAC Water Cooled Chiller: $35-$50 /ton Room A/C: $20 /unit Central A/C: $10-$30 /ton Heat Pump: $50 /ton Packaged Terminal A/C: $40 /unit Packaged Terminal Heat Pump: $40 /unit Guest Room Energy Management: $130 /unit Variable Speed Drive: $500 /unit Demand Controlled Ventilation: $700 /unit Kitchen Measures Evaporator Fan Control, with EMS: $80 /unit Strip Curtain: $5 /linear ft Night Covers: $20 /linear ft Door Heater Controls: $40 /unit Refrigeration Economizer: $150 /unit Custom Custom Project: $0.20 /kWh
Implementing Sector : Utility
Category : Financial Incentive
Website : https://central.libertyutilities.com/all/commercial/ways-to-save/solar-rebates.html
Applicable Sectors : Commercial, Industrial, Local Government, Residential, Schools, Agricultural, Institutional
Incentive Amount : $0.25 per watt for systems operational between July 1, 2019, and December 31, 2023
Implementing Sector : Utility
Category : Financial Incentive
Website : https://empiremogas.programprocessing.com/
Applicable Sectors : Commercial, Industrial, Nonprofit, Schools, Institutional
Incentive Amount : Rebates are decided on a case-by-case basis. Contact the utility or fill out a program application for more information.
Implementing Sector : Utility
Category : Financial Incentive
Website : https://central.libertyutilities.com/all/residential/ways-to-save/rebates.html
Applicable Sectors : Commercial, Industrial
Incentive Amount : Energy Saving Audits: $275 - $375 Programmable Thermostat: $25 Furnaces: $200 Food Service Products: $400-$800 Boilers: Varies (see program website)
Implementing Sector : Utility
Category : Financial Incentive
Website : https://central.libertyutilities.com/all/residential/ways-to-save/rebates.html
Applicable Sectors : Construction, Residential, Multifamily Residential, Low Income Residential
Incentive Amount : Electric Air Conditioner: $250 - $450 Gas Furnaces: $200 Programmable Thermostats: $25 Water Heaters: $75 - $200 Condensing Boiler: $100 Building Insulation: 50% of cost
Implementing Sector : Utility
Installing and connecting your solar system
When you install a solar system in Empire District Electric Co territory, these are steps you can expect to go through:
Once you’ve hired a contractor, you will need to communicate with Empire District Electric Co 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 Empire District Electric Co customers?
The short and sweet answer is a resounding YES. Going solar is definitely worth it for Empire District Electric Co 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 Empire District Electric Co? 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.
