How Much Money Will Solar Panels Save Me

These savings are very real and their relative strength depends on the availability of local city and state incentives.

How much money will solar panels save me.

Solar panels cost money upfront but will save you money in the long term the average home can save between 10 000 and 30 000 over the lifetime of your solar panel system start comparing custom quotes on the energysage marketplace to see your estimated savings from solar. But the true cost of solar panels and whether they ll help you save money depends on a few key factors. 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. 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.

This is assuming a system size of 6 kilowatts which is common in the us. 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. Some states see even higher averages.

If your roof is deeply shaded by trees mountains or buildings solar panels won t work well. This is a nationwide average. 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. Most homeowners are paying about 1 5 per watt a 50 decrease from just a couple of years ago.

Key takeaways for an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually.