How solar panels became a money printer and my smartest home investment

Luis J. Diaz, April 1, 2020

I've followed Tesla for years because I believed in the company's sustainability mission and the technology behind it. Initially, I wanted to purchase a Tesla Model S, which I find not only beautiful but the most exciting car on the market. However, before committing to the purchase, I wanted to figure out my charging solution since I wanted to charge from the sun.

My fiancée and I started researching the best solar panel system. We were initially worried the cost would be out of reach, but after a few weeks of gathering quotes, including one from Tesla, my decision became clear — to choose Tesla for solar.

Price, aesthetics and power matter

Tesla offered a great price for solar that supported our family's needs. Our solar and energy storage system powers our house, keeps us protected from utility outages and prepares us for future electrification and charging needs, like my dream Model S. Between huge cost savings from state and federal incentives, increased property value and a lower utility bill — we knew solar would be a great investment.

On install day, I knew we made the right decision. The panels aren't bulky or overbearing — they blend in and complement the rest of our house. Most of the time, we forget they are even there except when the neighborhood power is down. Our home remains lit since our solar panel system and two Powerwalls work in concert, keeping our lights on, fridge cool and appliances running during an outage.

The savings are real

I have a money printer on my roof. Before solar, I used to pay my utility $250 per month for electricity. With the addition of solar, my current electric bill averages $5 per month. Living in New Jersey has made going solar financially compelling since I get to leverage not only the federal tax incentive but also local state incentives. On average, I receive about $310 a month from my state incentives alone through the Solar Renewable Energy Certificate (SREC). This covers both my entire monthly solar system cost of $290 and most of my electric bill. I'm also able to take advantage of net energy metering, which means my utility credits me $0.12 per kW for the solar energy I send back to the grid. The savings from solar are substantial. There's no other home investment I know of that puts money back in your pocket.

Going solar, going all in

After I got my solar installed, I purchased my Model S. It's a dream. Our family now lives sustainably with minimal emissions while saving money. We power our home and charge our car with solar and store any surplus clean energy in Powerwall.

Tesla's full ecosystem of products — solar, Powerwall, charging and a car — allows us to produce and use our own clean energy. The economics of Tesla solar make the investment a no-brainer, allowing us to lower the cost of ownership of our Tesla vehicle and lower the amount we pay our utility. Tesla's ecosystem is the ticket to energy independence.

Order Solar Panels Order Powerwall