You own the home you live in. You rent the electricity that makes your home livable.
In the past there was no other option.
Today however you can make electricity safely on your own roof for a fraction of what PECO charges. Even better, the energy produced at home is renewable, non-polluting and quiet.
But isn't solar really expensive?
If your electric bill is $150 per month, that is $1,800 a year. PECO's rates don't stand still. Their historic increase is 3 - 4% annually over the past 20 years. ( PECO did increase rates by over 30% over the past two years but let's look at a longer term).
Here is what that $150 bill each month looks like when you add it up, year after year...
It's only $150 a month today but, unless you plan on living in a home without electricity, it never ends. After a decade you have given PECO almost $22,000 dollars! After 20 years, cumulative electric costs are more than $53,000. Bill after bill, you pay a small fortune with no end in sight. It is not solar that is expensive, it is the drip by drip approach that quietly takes your money.
What would going solar look like instead of paying PECO?
Well, for starters, it will be much BETTER!
Whether you pay for the entire system with cash or finance the project with a 12 or 20 year loan, getting solar on your roof will save you and your family real money. Take a look at how going solar beats the DO NOTHING approach with PECO. The chart below shows how Do Nothing ( red line) silently drains your money while offering nothing in return. The green is Pay Cash and typically you are ahead of PECO within the first 5 years. Break even is often in years 8-10 depending on individual system performance that varies from house to house depending on how much sun hits the roof.
The two loan options are almost ALWAYS better than the DO NOTHING path.
It is not free. It is an investment in your home, your family, your community. However, it won't just get up on your roof. You need to make it happen.
If you want this bill each month, then maybe it is time to get solar.
If you have cash available, then paying for this investment all at once offers the highest return.
But there are also great loan options. Best yet, unlike buying your home, a solar system loan does not require a down payment! Your savings can be used to pay for the entire loan.
Butterfly PBC does not offer a leasing option. Unfortunately most leasing options available today benefit only the finance companies and not the homeowner. Caveat emptor.
For those considering a loan, we recommend Clean Energy Credit Union. They are a not-for-profit, tax-exempt cooperative with a mission dedicated to funding green energy.