Do You Save With Solar Panels

Solar panel systems help you save money and protect against rising utility costs.

Do you save with solar panels.

A study by the national bureau of economic research found that in california pv systems added a 20 194 premium to the sales price of homes. How long do you plan to stay in your home. The feed in tariff is supported by a number of suppliers as it s mandatory for those with over 250 000 customers. The electricity rates in your area compensation to you from your energy provider and how much energy you use all figure into the calculation.

Although some surveys show that solar panels increase the value of a house you won t know until you sell. However your 20 year solar savings depend on where you live. As you can see answering the question of how much do you save with solar panels depends on several factors. If your roof is aging or damaged you may be better off replacing it before you install the panels.

Solar panels have an expected life span of about 25 years. For example the average annual electricity use required for a u s. On average energysage solar shoppers achieve payback on their system in just seven and a half years and they continue to save for the rest of their system s 25 year lifespan. If you have solar panels don t for heaven s sake think this locks you into your energy provider so you can t get cheaper bills join the mse cheap energy club to stick on permanently low prices.

Even if your electricity rates aren t as high as california prices going solar can still save you money. If you live in a state like california where the solar costs are considerably lower than electricity costs you can most definitely save money with solar. For an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually. Rising property values lowered utility costs and the federal tax credit all ease the upfront costs of installing solar panels.

These savings are very real and their relative strength depends on the availability of local city and state incentives. But the true cost of solar panels and whether they ll help you save money depends on a few key factors. Solar panels and solar panel systems will save you money and bring a return on your investment in no time. Investing in solar energy will not only save you month to month on your electric bill but it could also increase the property value of your home.

On average installation and the system together can run between 15 000 and 25 000. The first step to understanding how much solar can save you is to calculate how much you are currently spending on electricity every year.