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Installation of Solar Panel Systems for homes has been growing at a record pace, and the cost to install solar power has decreased by 70% over the last decade. Everyone loves the idea of clean electricity and self sufficiency, but we all know, most homeowners primary concern is lowering their electricity bill to save money.
In the last decade, solar has had an annual growth rate of 48% and right now, the price to add solar panels to your home is the lowest it’s ever been. So at this point you are wondering if Solar panels are worth it?
The big question everyone wants to know is, how much will I save on my electricity bills if I install solar panels? The exact numbers vary depending on the details of your installation. If you live in a mobile home in Texas, or a mansion in California with 3 tesla’s in the garage, your electricity requirements and solar savings potential are obviously going to be very different.
-Federal government provides a 26% tax credit on all residential solar installations until 12/31/2020.
-A solar installation can also be looked at as an investment, and can provide a 6%-13% ROI.
Solar panels cost money upfront, but will save you money in the long term.
The simple answer to the question “do solar panels really save you money? is yes.
How much money do solar panels save you on electric bills?
The first step to understanding how much solar can save you is to calculate how much you are currently spending on electricity every year.
We provide 20 year solar savings estimates for: Arizona, California, Colorado, Florida, Massachusetts, Maryland, New Jersey, New York, Texas.
A common misconception about installing solar panels is that your electric bill will go away entirely. You still receive a utility bill but net metering saves you money. With net metering, your monthly electricity bill is calculated both ways, based on the net of your overall energy consumption and the monthly output from your solar panels. If you are producing more energy than you’re using the utility company will actually pay you!
The Pros of Solar Panels:
-A true renewable energy source
-Reduce your electricity bill and provides insurance against rising power prices
-Low maintenance cost
-Financial incentives from the government
-They operate quietly, with no moving parts and emit zero pollution.
-They have a long service life and reliability in operation. The guarantees given by the manufacturers for the solar panels are generally for more than -25 years of good operation.
Outside of lower electricity bills, solar power systems also lower the carbon footprint of your home, and can lead to potentially higher home values. It’s a good idea to get solar quotes for your residential solar system.
0:00 Solar Power System For Home
0:33 How Much Do Solar Panels Save You?
1:00 Solar Power Benefits
1:41 Solar Panel Cost
3:51 Solar Savings
4:45 Solar Power
6:13 Do you still get an electricity bill with solar panels?
6:33 Net Metering
8:04 Solar Power Advantages
8:40 Solar Installers