How Much Money Do U Save With Solar Panels

How much do solar panels save on electricity bills.

How much money do u save with solar panels.

Solar panels cost money upfront but will save you money in the long term. To answer that you ll need to determine what you pay now for service. On average solar panels will save you over 1 100 per year on your electricity bills. Start comparing custom quotes on the energysage marketplace to see your estimated savings from solar.

A more universal way of looking at cost is to determine the cost per watt. If you re interested in understanding how much money solar panels save on your electric bills you first need to calculate how much you re spending on electricity every year. Going solar saves versus traditional energy costs per the us energy administration the current average cost of electricity from the traditional grid is 12 75 cents per kilowatt hour kwh. 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.

Some states see even higher averages. For example the average annual electricity usage in a u s. Depending on where they live americans average between 77 and 168 per month for electric service. Household is 11 000 kilowatt hours kwh.

Most homeowners are paying about 1 5 per watt a 50 decrease from just a couple of years ago. But the true cost of solar panels and whether they ll help you save money depends on a few key factors. If your roof is deeply shaded by trees mountains or buildings solar panels won t work well. On average installation and the system together can run between 15 000 and 25 000.

A 6 000 watt solar system should produce 13 000 kilowatt hours per year which would save you the equivalent of 150 to 200 per month in electricity in most areas says todd verk vice president. It may seem obvious but access to sunlight is important. This is assuming a system size of 6 kilowatts which is common in the us. Most solar panels are sold for about 0 70 per watt if bought in bulk.

These savings are very real and their relative strength depends on the availability of local city and state incentives. The average home can save between 10 000 and 30 000 over the lifetime of your solar panel system.