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What is grid parity?

Curious about Grid Parity?

Grid parity is where the world is rapidly heading. As technology continues to improve, eventually the traditional grid will become obsolete. That is the long term future for grid parity, where every property can produce and store enough clean, renewable energy to be self-sustaining. However, this future is some time away. The best way to take advantage of grid parity in the 2020’s is to invest in a grid-tied solar array. In many states where interconnection is legal and even incentivized through programs like net metering, it is actually cheaper to invest in and own rooftop solar than it is to continue to rent your energy from a utility company. This is the case in not only coastal states like California or Massachusetts, but in states like Ohio, Kentucky, and Indiana.  Typical solar installs can realize an annual return of over ten percent (10%), as opposed to zero percent return staying with utility providers. With the right financing options, typically offered through installers by third-party finance companies, home and business owners can invest zero money down and save more per month than they pay for the solar. This is a situation with an infinite return, which is exactly what grid parity is.