First, is this your first guitar, or just your first electric? Essentially, did you have an acoustic prior to getting this guitar?
To continue; very nice, playing guitar is one of those things you can do even when nothing else seems to take up time. Just remember to practice, practice, practice.
Not to say that learning music theory is necessary, but learning scales is very helpful for both jamming and writing songs.
If you didn't have a guitar before this, just a few tips:
First, use ALL your fingers, this is essential.
Second, play what you like, not what other people tell you to.
Third, look to play things that are beyond your current skill level, but not too outlandishly difficult. It helps you grow as a guitarist and will teach you patience and persistence.
Lastly, and most importantly, Have Fun with it. Being musical is no good if its not enjoyable.
