How Much Money Do You Save With Solar Panels

Some states see even higher averages.

How much money do you save with solar panels.

This is a nationwide average. If your roof is deeply shaded by trees mountains or buildings solar panels won t work well. So the sooner you take advantage of the full credit the better. A 6 000 watt solar system should produce 13 000 kilowatt hours per year which would save you the equivalent of 150 to 200 per month in electricity in most areas says todd verk vice president.

This is assuming a system size of 6 kilowatts which is common in the us. The electricity rates in your area compensation to you from your energy provider and how much energy you use all figure into the calculation. On average solar panels will save you over 1 100 per year on your electricity bills. The average home can save between 10 000 and 30 000 over the lifetime of your solar panel system.

Solar panels cost money upfront but will save you money in the long term. The average cost of solar panels and their upfront cost can be offset by the federal tax credit which currently sits at 26 percent. It may seem obvious but access to sunlight is important. The estimate also considers the average sunshine available in the country and the average electricity price of 13 34 cents per kilowatt hour reported by the energy information administration.

Start comparing custom quotes on the energysage marketplace to see your estimated savings from solar. Going solar saves versus traditional energy costs per the us energy administration the current average cost of electricity from the traditional grid is 12 75 cents per kilowatt hour kwh.