Do Solar Panels Save You Money

The simple answer to the question do solar panels really save you money is yes.

Do solar panels save you money.

There are two types of savings you ll find with solar. The credit could save the average homeowner 5 000 or more depending on the size of the system according to energysage a solar marketplace with a calculator to help estimate savings. Do solar panels reduce electricity bills. To find out whether solar panels would save you money means to estimate your investment in a solar electric system.

It is important to calculate the cost of electricity produced by your pv system. Solar panels and solar panel systems will save you money and bring a return on your investment in no time. That being said how much you ll save depends on a number of factors. Rising property values lowered utility costs and the federal tax credit all ease the upfront costs of installing solar panels.

One of the main advantages of installing solar panels is the reduction of your electric bill. Obviously if solar panels were to save you money it would come in the form of reduced electricity bills. Short term savings are savings you ll see pretty much at the start of having your solar system turned on. So yes you do save money.

Now back to the question of do solar panels save money. On average installation and the system together can run between 15 000 and 25 000. Direct hours of daily sunlight and the size and angle of your roof are both important but local electricity rates play the biggest role in determining how much solar can save you. But the true cost of solar panels and whether they ll help you save money depends on a few key factors.

On average solar panels will save you over 1 100 per year on your electricity bills. Even if your electricity rates aren t as high as california prices going solar can still save you money. The estimate also considers the average sunshine available in the country and the average electricity price of 13 34 cents per kilowatt hour reported by the energy information administration. Such a task starts with calculating solar electricity production costs.

However exactly how much you save is greatly influenced by where you live. Solar panels are the main building units of solar electric systems. Well just look at this moxie customer s electric bill before going solar and after going solar. This is assuming a system size of 6 kilowatts which is common in the us.

Solar panels will usually help you save money on energy costs as long as you live in the same house for long enough to recoup the installation costs through savings on your power bill. If your roof is deeply shaded by trees mountains or buildings solar panels won t work well.