PV solar is one of the most environmentally friendly resources for energy production available today. With its minuscule cradle to grave carbon output, it is one of the most effective resources we can use to mitigate the long-standing effects of the industrial age. However, under current legislation right here in Indiana, it can do more than just help the environment. It can also be a long-term investment to help mitigate the effects of energy inflation as fuel prices for traditional fossil fuel generators used by the utility companies soar and rates go up.
Net metering allows you to save money directly following the completion of your installation. Once your panels start feeding energy into the grid, you receive credit for it and you only pay for net energy consumed. The benefit of net metering is most apparent in your monthly utility bill which will likely decrease by more than 50%. This means that if the average payback period for residential PV solar installations is about 5-10 years (Solar Power Now), less than the average time spent by residents in one home, (National Association of Home Builders) over the years you will earn back your initial investment and more. And, even if you live in a region where utility rates are $0.09/kWh, it may take longer to pay it off, but it is still a worthwhile investment considering it will last for decades and will almost certainly increase exponentially in the value of your returns as the market changes in the coming years.