Can Switching to Solar Panels Save Me Money?

| Article Highlights

Yes. solar PV systems can most definitely save you money. The real question is, how much exactly? Well, that figure is based on a number of factors such as your exact location, (see a list of the best US states to go solar in), your roof, your electric bill, size of the system and several other factors.

 

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A recent study, conducted by the NC Clean Energy Technology Center, at NC State University, researched the 50 largest US cities, and ranked them by best solar investment overall.  

US 50 largest cities map, with Savings each month when switching to Solar

50 largest US cities map: see how much you can save with solar every month

 

The study determined that in America's 50 biggest cities, customers that invested in a 5 kW solar PV system saved an average of $ 44 to $ 187 per month during the first year that they owned their system. (before a loan, lease, or PPA payment). This is quite amazing.

The fact is, every house and location is different. The fastest and most accurate way to determine exactly how much you can save, and how much it's going to cost you, is to get a quote from our recommended installers.

we work with thousands of pre approved and reliable installers, with proven track record.

Why not talk to a local installe ? it's absolutely FREE, with no strings attached. You can Get a solar quote here

What are the reasons that enable me to save money with solar power system?

The price of solar panels

The price of solar panels has reduced significantly in recent years. As more and more companies manufacture PV Solar panels to meet the demand, the panels cost has reduced, thus enabling the reduction of the total cost.

Solar panels cost on an average house has dropped significantly

Solar incentives

To meet it's RPS (renewable portfolio standard), many states in the U.S have placed strong incentives and tax breaks laws for homeowners, which have significantly lowered the cost for the systems, and made the switch to solar much more affordable and a great long term financial decision.

The 0 down program

The emergence of the PPA – the power purchase agreement, is a scheme that enables many homeowners to install a full residential PV system on their roof with 0 down payments.

The fact that now you can finance the system in many states in the US has contributed significantly to the rise of use of solar, and to the affordability of the PV systems.

There are plenty of reasons why using solar power is a great idea, especially when it comes to environmental issues, as solar energy is one of the cleanest forms of energy there is, with little in the way of the harmful emissions associated with other, traditional forms of energy such as gas and electricity.

One of the main reasons people can appear a little reluctant in adopting solar power as an alternative power source within their home is the amount of money they think it will cost to install a solar energy system. The truth is, there is more than one way to obtain a solar energy system, and you can even have a solar energy system installed in your home for no cost to yourself whatsoever!

We feel your pain. we really do.

electricity costs continue to rise, and families across America like yours looking for savings options. And rightfully so.

We believe installing a PV system on your rooftop is a great way to save. In fact, we know it.

Few minutes over the phone with a local solar expert can make all the difference. We have helped thousands of homeowners go solar, and we can help you too! go ahead, it's free. See your solar savings.

 

Solar – the free energy source 

Switching to Solar Energy Can Save You Big The biggest advantage when it comes to solar energy is that solar energy systems are powered by the sun, and of course, sunlight is free.

Solar energy systems still draw power from the sun even on cloudy days – your house does not have to be in direct sunlight all day in order to benefit from solar, and solar energy systems 'store' power during the day, so don't think all your appliances will be useless once the sun goes down.

It is possible to install enough solar panels on your roof so your home is completely powered by solar energy – meaning that you pay utility companies absolutely nothing!

There are other financial aspects to take into consideration if you're thinking about converting to solar energy.

Some utility companies will buy any surplus energy your system generates but which you yourselves do not use. All states in the US also now have so-called solar incentives, which includes tax credits and other incentives that are offered to people to hopefully persuade them to convert to solar energy.

 

Solar is a great long-term investment

According to figures released by the Energy Department, converting to solar would save you money in the long term in 45 out of the 51 US States (the unlucky ones being South Dakota, Idaho, Arkansas, Indiana, North Dakota and Mississippi).

If you are lucky enough to live in Hawaii, you will save nearly 24 percent on your fuel bills over 25 years, and States such as California, New York, Colorado and New Jersey will all save 10 percent.

If that doesn't sound too great, then consider that the same amount invested in 30-Year US Treasury Bonds over that time would only generate a return of under 4 percent!

If you don't want to pay for your solar panels, you can always lease them instead.

This means a company will 'lease' your roof-space off you so they can install panels there. They will then sell you the power that the panels produce at a 'locked-in' fixed rate that's cheaper than mains electricity, but you would not receive the tax breaks and incentives that paying for your own installation brings.

Switching to solar power will definitely save you money, just how much is up to you.

If you're still unsure about going solar, and wish to find out exactly how much money you could save, click here and get a solar quote from top installers in your area.

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