Solar energy continues to grow as we make advancements in renewable energy technology, but does it really save you money?
Short answer is yes! Research is necessary when comparing the costs and savings of solar energy because energy rates can vary by area, as well as the cost of installing solar.
On average, households in America spend about $1,450 annually on electricity. With solar energy, the cost of monthly utilities are reduced and can sometimes even be eliminated completely depending on power usage.
“The average household in the U.S. spends about $125 a month on an energy bill. If your system is robust enough to entirely cover your energy usage, you could see savings of up to $1,500 a year. While you will see immediate savings on your first power bill after installing a solar system, your overall net savings will become apparent after several years of use—after the savings on your power bill have paid for the upfront costs of the panels and installation.”
Initial Cost of Solar
The cost of installing solar panels varies by state, and it can be as low as $3,500 or as high as $35,000. On average, solar energy installation costs around $16,000, which means that if homeowners save an average of $1,450 each year on energy, they will be able to break even on the cost of installation within 11 years. Over the lifetime of a home, solar panels will save homeowners up to $45,000 in electricity costs.
Use this calculator to figure out how much you can save with solar panels in Florida – https://solar-estimate.ecowatch.com/local-solar-calculator-fl/
“Solar panels cost money upfront, but will provide significant savings on energy bills over time. The average home can save between $20,000 and $75,000 over the lifetime of your solar panel system, depending on the cost of electricity in your area.”
Although the upfront cost of installing solar energy can be daunting, it’s absolutely worth it when comparing how much homeowners spend on electricity every year versus how much they can save. Federal solar investment tax credits can also help subsidize the cost, making it easier and more cost effective than ever to switch to solar.
The EcoSun Advantage
At EcoSun, we’re passionate about doing our part to provide accessible and affordable housing while staying committed to making a positive impact by using green technology and renewable energy to offset the cost of your monthly payment. All EcoSun homes come fully equipped with solar panel systems, energy efficient lighting and appliances, and smart home technology that makes it easy for you to keep track of energy consumption. EcoSun homeowners are also eligible to claim the federal solar investment tax credit, which helps reduce the overhead cost of installation and maximizes the overall savings from having solar energy.
Call today to see how much you can save, or schedule an appointment.
Sources:
https://www.forbes.com/home-improvement/solar/how-much-solar-panels-save/
