Go Green With Solar Panels Savings
An average household in the United States consumed about 914 kWh of electricity per month in the year 2018. With residential customers paying around 13.31 cents per kWh, electricity remains a constant burden. The situation is prompting more Americans to seek other alternative sources of power.
Most States in the U.S. are sunny 68% of the time. This observation has become the leading reason behind the sudden buzz around solar energy.
Are you tired of the skyrocketing electricity costs in your home? You ought to consider the solar panels savings that come with going green.
Are Solar Panels Worth It?
Installing solar panels for your home can help you save big in the long haul. Apart from the installation cost, which is a one-off expense, solar panels are entirely worth it as a cost-cutting measure. On average, your solar panel should last between 25 to 30 years.
The fact that these panels require minimum maintenance costs means that your running expenses will be lower. So why would you want to pay an arm and a leg for a resource that’s available freely?
What Are Some of the Solar Panels Savings?
Solar energy is generally cheaper because you only need to harness the power directly from the sun. Unlike hydropower and other sources of energy where the energy generation process is complex, solar energy production is rather straight-forward.
First, when using solar power, the federal tax credit covers 26% of your solar system costs. As such, you only have around 74% of the total solar system cost to pay. Similarly, local governments have, over time, worked around pushing the solar tax credit more to encourage locals to consider this option.
How Much Do You Save With Solar Panels?
The cost of installing your solar system may vary from one service provider to the next. However, cheap should not always entice you. This is a 25-year investment, which may require careful consideration of the long time value.
Before settling for a solar panel, consider the options you have. Depending on the States and service provider, you may have between 6-7 years to pay for the solar installation. This arrangement is part of the solar panels savings benefits you gain in the long-term.
Solar panel installation costs, on average, between $11,411 and $14,874. This may be higher compared to electricity but the cost-benefit analysis makes more sense in the long-term.
Your recommended solar size for an average home is one that’s around 3 Kwh. With this size of a solar panel, your estimated quarterly bill will be between $33 and $141. Compared to electricity, this is a reduction of around 111% on the higher side.
The total government incentive on solar power is about $1,443.
With such savings, anybody who has been wondering, “how much does a solar power system save?” needs not to wonder anymore. This is because a typical household can save an equivalent of $2416 annually when all factors are constant.
Why Should You Pay More?
With such enticing solar panels savings benefits demonstrated in this article, no one should be paying an arm and a leg for power. You only need to incur the installation cost as a one-off expense, and the rest of the 25 years will be pure bliss.
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