Owning vs Renting… Your Electricity

How much will solar save you? Find out in about 60 seconds!

lower electric bill Owning vs Renting... Your Electricity
Photo Credit: StockMonkeys.com / CC BY

A lot of people have decided to buy their own home rather than rent one for the rest of their lives. I think the biggest pull for doing this is that once your home is paid off, you no longer have to pay to live in your home (ignoring property taxes, of course). It’s logical. When you crunch the numbers, you probably come out on top by owning rather than renting.

However, in the case of electricity, we seem to just assume that we must “rent” our electricity from the electricity company forever. We don’t even consider the fact that we could “own” our electricity, or the “power plants” that create it.

But as I think you’ve gathered by now, my point is that you can. You can buy a solar power system (a mini power plant, minus the pollution that comes from most power plants), stick it on your roof, and stop renting from your regional utility company… or at least rent much, much less.

Pretty cool, eh?

Ah, but you think you’ve outwitted this writer and you think that buying a mini power plant for your roof isn’t a better deal than paying the utility company for your electricity, right? Well, for millions upon millions of people, it actually is a better deal. You can read some general articles about the average electricity savings of people who go solar or solar power’s great ROI, but the best solution is probably just to get a solar quote and see how much you can save by owning your electricity supply.