How much can I save with Solar Panels?
Solar panels have been around since at least the 1970s. The efficiency of solar hasn’t changed much, yet we’ve seen a re-emergence of solar panels on residential homes. That’s mostly partly because the price of solar panels and solar install costs has dramatically gone down. The question then becomes whether it makes economic sense for you to transition to a solar install. First, you should understand how the costs play out. When transitioning to solar, you’ll see a higher upfront cost, with savings over time. So, don’t expect your overall solar install time savings to produce results immediately, but instead, to gradually pay itself off over time.
Cost of Solar Panels
The cost of solar panels has gone down over time, but even then, it’s not cheap to install solar. The cost of solar you’ll pay will depend on several factors.
- Price per kW/h you pay to the energy company
- Overall energy needs around the year
- Your solar budget
- Your ability to store and draw/use energy on less optimal days
These four factors will determine how fast you begin to see energy savings given the cost of solar panels you pay.
Plan to Save with Solar Panels
First, begin your solar install by finding your cost per kW/h (kilowatt-hour). This is the standard unit of measurement every energy company uses to determine your energy costs at the end of each month. Your solar home will also require a unique amount of energy as well and will determine your cost of solar panels. You should start off by estimating your energy usage. To do so, look at your previous bills. Each month there will be a listed energy usage amount in kW/h. This will give you a good idea as to how much your new solar home will require energy. You’ll also want to factor in the time of year for those energy needs.
The location will also affect the cost of solar panels you pay. Winter in the Midwest, for example, will make it difficult to collect enough solar energy every day for your solar home. However, anywhere in the South, South West, or West Coast will be able to collect more than enough solar energy throughout the year for your solar home. So, if you live where it’s sunny, the cost of solar panels could be less overall.
Plan your upfront cost to save with solar panels
The next step for a new solar home is planning the cost of solar panels. Again, it corresponds to your unique energy needs. If you’re up and coming solar home is located in an area with less sun during half the year, then you’ll need more solar panels. This will affect the cost of solar panels. However, other solar homes in California, for example, will likely need fewer solar panels. Some states also have incentives to help cover the cost of solar panels in your home. So, it just depends on the cost of solar panels in your area.
It gets even more complicated, considering the size of your solar home and more. In the end, there are many qualified solar install companies that can guide you on selecting the appropriate number of solar panels for your solar home.
Once you know the number of solar panels you’ll need, you should also plan for storing that energy. This aspect is somewhat new to solar homes. However, companies like Tesla, for example, make electric batteries capable of storing solar energy and keeping it for long periods of time. So, your solar install should factor in some form of energy storage as well. Overall, this will reduce costs even further. Why, because on sunny days, your solar panels will produce more energy than your solar home needs. Then, on days when your solar panels cannot produce enough energy, the battery will kick in, and your solar home will still be powered for no cost to you.
Average Performance of Solar Panels
The second part of your upfront cost should include a look into the future energy savings as well as the solar installation costs. Each of these will affect the cost of solar panels. Save with solar panels. Save with solar panels. Save with solar panels. Save with solar panels. Your solar install will likely need to be around six kW/h in states like Arizona, California, Colorado, Texas, and more. Cost of solar panels. Cost of solar panels. Cost of solar panels. Cost of solar panels. Cost of solar panels. Cost of solar panels. Cost of solar panels. Although the price has gone down for solar installation and solar panels, the average cost of a six kW/h system is $12,000. This varies by state from $11,000 to $14,000. Either way, your solar home will take on average 10-20 years to pay itself off, depending on your solar install. It just depends on the energy usage, production, and storage of your solar install. That’s why you need to plan out the cost of solar panels for your home. Save with solar panels. Save with solar panels. Save with solar panels. Save with Solar Panels. However, you should also realize that means over a decade of performance, your solar home has also saved you the cost of the solar install. Save with solar panels. Save with solar panels. Save with solar panels. Save with solar panels. So, you’ll break even and begin to save after the fact as well, thanks to your new solar installation. That’s the great thing about the cost of a solar install; solar panels tend to last for several decades. You could also luck out by renting or buying a home with solar panels that already has a solar install. In places like California, every new home is now required to have solar panels to act as a solar home.
Your Energy Bill go away with a Solar Install
This is a common misconception with solar panels. A solar installation will provide cost savings, but you’ll still likely see a small energy bill throughout the year. Even then, it could be a difference of $100 or more, given the national average of $113 per month or $1,400 per year for a solar install. So, the cost of solar panels will pay itself off in a decade or so, but you’ll still experience a small energy bill on the days when your solar home can’t generate enough power for a solar install.
That’s unless you completely go off-grid and just rely on your solar home for a solar install. However, you’ll likely need to make sacrifices with your energy usage. Some people with solar homes who go off-grid buy especially energy saver appliances and try to not use electricity unless necessary.
Are solar panels right for you? They are not for everyone
Overall, you can save with solar panels and create a solar home if you’re willing to live in it for several decades. Solar panels are quickly becoming a standard of energy production as well. So, your solar home could also net your home a higher price if you decide to sell since solar panels are so high in demand. So, solar panels will save you money. Save with solar panels. Consider getting solar panels to save with solar panels.