If you’ve been paying attention at all, you’re probably already a believer in the financial benefits of solar power. One of the critical benefits of EnergySage is the tremendous amount of time it saves you throughout the entire process of shopping for solar power. When we talk about these financial benefits, we don’t usually assign a monetary value to the time you save using EnergySage, but as we all know, time is money. Ultimately, how you value your time affects the choices you make. Here’s an interesting analysis of how to put a dollar figure on the time EnergySage will save you.
Shopping Solar Quickly and Efficiently
Researching, choosing, and installing a solar power system can be a complicated process. If it’s too hard or takes too much time to come to an informed decision, you may end up opting for a traditional energy source just because it’s easier to pick up the phone and open an account with your utility—even though clean energy is a much better financial option. That’s because, as you begin to factor in the time you’re spending trying to navigate the purchase process, the perceived cost of solar energy increases. This will happen even if you don’t actually sit down and work out the math. What would it look like, though, if you did? An article published on LifeHacker provides a nice illustration and you’ll be surprised to see that the dollar figure used to value your time isn’t necessarily your hourly wage.
LifeHacker uses the example of Bob, a traveling salesman, who provides $150 of value / hour to his employer, SeatGeek. Note that $150 isn’t Bob’s wage. It’s the monetary equivalent of what he contributes to the company’s value each hour that he works.
“Suppose Bob has to travel across Manhattan for a meeting. He can get there by taking the subway for a modest $2 or by taking a cab for $27; the latter would save him thirty minutes of time. The frugal bootstrapper in me wants Bob to take the subway, but if he does that, he is effectively stealing $50 from SeatGeek. Bob’s decision causes the enterprise value to drop by that amount. If a shareholder owned 2% of the company, she would be $1 poorer after Bob’s choice. It’s optimal for shareholders if Bob leaves for the meeting half an hour later and spends that time working.”
EnergySage Saves You Time, Gives You Information
The concept of perceived cost represents a major hurdle for the solar industry and removing that hurdle is at the core of EnergySage’s mission. EnergySage saves you time at every point in the solar shopping experience. We provide unbiased, easy to understand information about solar technologies. We have valuable consumer generated content such as local case studies with advice and performance data from actual home and business owners, as well as ratings and reviews of installers, products and financing providers. We also have the EnergySage Solar Marketplace which automatically solicits multiple quotes from qualified installers and then calculates the financial benefits each option provides, making it a lot easier (and quicker!) to maximize the returns on your investment. All of these features help to eliminate the time / opportunity costs that might keep you from reaching the finish line faster and more easily. But, here’s what’s really great about what we’re doing: Unlike Bob, who saved time, but paid more, people who use EnergySage save time and actually pay less—A LOT LESS!