Customers can take control of their finances this year by owning their electricity rather than renting it. Homeowners that convert to solar can save up to 35% on their monthly electricity bill. The Consumer Team’s Pete Thomson and the O3 Home Solar team understand that resolutions can be life changing, but switching to solar might be the best financial resolution homeowners can make this year. Pete Thomson and O3 Home Solar sat down to discuss how O3 can provide customers enormous savings this 2020.
Tell us what’s new. We’re in a new year, and I know there’s some new things we want to pass along to our listeners.
The new thing we talked about was the tax credit – did not get approved, so it’s down to 26% now instead of 30.
So, they took that away?
Well, they reduced it.
And “they” is the government?
Yea, and then, the following year it reduces another 4[%] and then a final 4[%] a year after that. So, we planned on this, like we told you, and so, what we did a couple weeks ago was instead of configuring every single, you know, situation we’re in at a customer’s home, we decided to reduce our pricing . . . to cover the tax credit.
So, the tax credit for O3 Home Solar customers hasn’t changed—Is that what you’re saying? Even though the Feds have changed it, you have maintained the savings for the consumer.
Correct! We have reduced the cost.
Another important part of why 2020 is the year for solar is the decrease in price per watt for O3 Home Solar customers. Thomson checked with O3 for the details.
There’s something else going on with the rate of electricity. . . . It’s going down for O3 customers, right?
Oh, it’s going down for us, yea. . . . [N]ormally we see in the industry about 340 a watt to 360-ish, and so, that’s on average…34000 to 36000. We have been at 320 a watt for a very long time, and with the tax credit reducing like I told you in our previous segments or, you know, asking questions about that is we’re covering the difference. So, we’ve dropped our pricing to validate…the tax credit changing down to 310 a watt. So, our average job being between 10 and 12 kilowatts—you’re saving 1000 to 1200 dollars, which makes up the cost of the reduction of the tax credit.
Bottom line for a homeowner that puts in an O3 Home Solar system . . .
We’ve got you covered.
Thomson continues by explaining why potential customers should be interested in the 35% savings that O3 Home Solar can offer.
People just don’t realize that solar power is delivering at that level.
True, and now that we’ve reduced the price again, we’re seeing a larger gap between what they average with a utility company pre-solar and then what their solar payment is once they’ve converted—is a much larger gap for what they’re actually saving, and they own it and are in control over it.
Additionally, Thomson highlights that O3 Home Solar doesn’t just install a solar system and promise savings. O3 Home Solar works with you based on a production guarantee. With O3 Home Solar, customers that convert to solar are given a guarantee that’s based on their actual energy usage. At the end of the year, customers get reimbursed if the system didn’t produce what it should have, based on the production guarantee.
Thomson and O3 wrapped up their interview by talking about the O3 Challenge, which guarantees customers $500 if O3 Home Solar can’t lower their annual electric cost. Check out the O3 Challenge today and start saving with solar.