Are solar panels worth the investment?
Any solar company, solar installer, and homeowner with solar panels will answer with an emphatic “yes!”
Well, that’s because solar panels are worth the investment.
In this blog, I will break this down and help answer the question, and provide some saving examples. My goal is to help you be more confident about switching to solar. Here we go.
Why So Many Homeowners Are Switching to Solar
Why are so many homeowners switching to solar?
To start with, let me say that it’s hard to drive through a neighborhood in Tampa that doesn’t have a house or houses with solar panels. Yes, the abundant sunshine that Florida offers makes Tampa and other cities in Florida a perfect place to take advantage of solar power. But that’s not the reason people are making the switch to solar.
The reason so many Florida homeowners use solar panels is because it saves them money, a lot of money! After all, sunshine or no sunshine, if it didn’t make financial sense it people wouldn’t use solar panels.
According to EnergySave.com, “Most solar shoppers can save between $20,000 and $75,000 on electricity over the lifetime of a solar panel system.”
Solar panels are no longer “new” and “unreliable”. Where a few decades ago they may have been considered space-age technology, they are now extremely common. In fact, over two-million homes and businesses in the U.S. use solar panels to power their homes and buildings.
How Much Money Can Solar Save Me?
So how money money can solar actually save me?
It would be hard for me to give you an exact calculation without knowing how much electricity you use each month and how much you pay for it. However, at Expert Solar, we offer free solar cost saving estimates. By speaking to one of our solar experts, you can quickly get an exact idea of how much it will cost to go solar as well as how much money solar will save you!
However, to give you an idea, I have pasted the general U.S. figures below. I’ve included a few other states, in addition to Florida, so that you see it’s not just the Florida sunshine that works magic!
The average U.S. home uses 11,000 kWh of energy a year. What is a kilowatt-hour?
If you multiply this by the national-average rate per kWh (13.01 cents), the average U.S. home spends about $1,430 a year on electricity.
Below you can see the average price for a 6KW solar system, which is what it would take to cover the average home usage across the U.S.
In the last column, you can see a 20-year projection of the savings you would experience. Keep in mind that once your loan is paid off for the solar panels your electricity at that point is completely free.
Also read, How Solar Can Save You Money.