Does Solar Panels Really Save You Money

Using solar energy in place of grid electricity can save money on the monthly electricity bills.

Does solar panels really save you money.

There are two types of savings you ll find with solar. 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. Rising property values lowered utility costs and the federal tax credit all ease the upfront costs of installing solar panels. The simple answer to the question do solar panels really save you money is yes.

Though solar panel installation is quite an investment the overall benefit offsets the one time high investment. But the true cost of solar panels and whether they ll help you save money depends on a few key factors. Solar panels have many advantages and saving money is definitely one of them. 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.

If your roof is deeply shaded by trees mountains or buildings solar panels won t work well. If you live in a state like california where the solar costs are considerably lower than electricity costs you can most definitely save money with solar. The average home can save between 10 000 and 30 000 over the lifetime of your solar panel system. That being said how much you ll save depends on a number of factors.

It may seem obvious but access to sunlight is important. There are state and federal tax exemptions and incentives for homeowners and business owners who use a solar panel system. Solar panels cost money upfront but will save you more money in the long term. Even if your electricity rates aren t as high as california prices going solar can still save you money.