Do You Save With Solar Panels

Solar panel systems help you save money and protect against rising utility costs.

Do you save with solar panels. Although some surveys show that solar panels increase the value of a house you won t know until you sell. You can find reliable solar panel costs near you by using our calculator which is built using real estimates. How long do you plan to stay in your home. However your 20 year solar savings depend on where you live.

How much money do solar panels save you on electric bills. On average energysage solar shoppers achieve payback on their system in just seven and a half years and they continue to save for the rest of their system s 25 year lifespan. If your roof is aging or damaged you may be better off replacing it before you install the panels. Investing in solar energy will not only save you month to month on your electric bill but it could also increase the property value of your home.

Rising property values lowered utility costs and the federal tax credit all ease the upfront costs of installing solar panels. Household is 10 972 kilowatt hours kwh. For example the average annual electricity use required for a u s. But the true cost of solar panels and whether they ll help you save money depends on a few key factors.

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. Even if your electricity rates aren t as high as california prices going solar can still save you money. A study by the national bureau of economic research found that in california pv systems added a 20 194 premium to the sales price of homes. For an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually.

If you have solar panels don t for heaven s sake think this locks you into your energy provider so you can t get cheaper bills join the mse cheap energy club to stick on permanently low prices. Solar panels and solar panel systems will save you money and bring a return on your investment in no time. The electricity rates in your area compensation to you from your energy provider and how much energy you use all figure into the calculation. Solar panels have an expected life span of about 25 years.

These savings are very real and their relative strength depends on the availability of local city and state incentives. The first step to understanding how much solar can save you is to calculate how much you are currently spending on electricity every year.