How Much Money Will You Save With Solar Panels

Going solar is a major step towards a greener approach to living.

How much money will you save with solar panels.

Even if your electricity rates aren t as high as california prices going solar can still save you money. A more universal way of looking at cost is to determine the cost per watt. On average solar panels will save you over 1 100 per year on your electricity bills. Solar panels cost money upfront but will save you money in the long term.

The number of hours of direct sunlight the angle of your roof. The average home can save between 10 000 and 30 000 over the lifetime of your solar panel system. This is a countrywide average of course. This is assuming a system size of 6 kilowatts which is common in the us.

Start comparing custom quotes on the energysage marketplace to see your estimated savings from solar. Most homeowners are paying about 1 5 per watt a 50 decrease from just a couple of years ago. Do i save money. However exactly how much you save is greatly influenced by where you live.

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. But the true cost of solar panels and whether they ll help you save money depends on a few key factors. For an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually. One of the main advantages of installing solar panels is the reduction of your electric bill.

These savings are very real and their relative strength depends on the availability of local city and state incentives. If your roof is deeply shaded by trees mountains or buildings solar panels won t work well. If you live in wick or kirkwall your annual savings might be closer to 600. A standard 4 kw solar installation offers savings of roughly 653 a year on average which means you could potentially offset a 55 month electricity bill to 0.

It may seem obvious but access to sunlight is important. On average installation and the system together can run between 15 000 and 25 000. 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. So yes you do save 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.