How Solar Panels Save Money

Well just look at this moxie customer s electric bill before going solar and after going solar.

How solar panels save money.

Investing in solar panels is a long term investment but they pay for themselves relatively quickly. If you re looking to save a ton of money it really depends on a few key factors. However exactly how much you save is greatly influenced by where you live. One of the main advantages of installing solar panels is the reduction of your electric bill.

Electric bill before solar panels electic bill after solar panels. 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. In addition to saving on electricity bills you will earn one srec for every 1 000 kilowatt hours generated by your solar panels. More sun means more energy produced and a greater potential to save with solar.

Srecs have a variable sales price but they represent extra income beyond your power bill savings. Saving money by reducing your electricity bill by cutting down the amount of energy you use is no fluke. Since you ll be generating most of your home s power getting solar panels installed saves you lots of money. So yes you do save money.

Solar panels give you the ability to save money by creating a natural source of energy that has the ability to power your home and heat your pool. The number of hours of direct sunlight the angle of your roof and the size of the panel all play an influential role in determining your savings. A 6 kw solar panel system will normally accumulate between 7 and 10 srecs per year. Certain states like arizona and california average more sunlight hours per day.

Net energy metering allows you to earn energy credits at the retail value for the energy your solar panels produce. Your home s orientation toward the. Obviously if solar panels were to save you money it would come in the form of reduced electricity bills.