How Much Money Will Solar Panels Save Me

Most homeowners are paying about 1 5 per watt a 50 decrease from just a couple of years ago.

How much money will solar panels save me.

Solar panels cost money upfront but will save you money in the long term the average home can save between 10 000 and 30 000 over the lifetime of your solar panel system 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. The credit could save the average homeowner 5 000 or more depending on the size of the system according to energysage a solar marketplace with a calculator to help estimate savings. This is a nationwide average.

Most solar panels are sold for about 0 70 per watt if bought in bulk. 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. If your roof is deeply shaded by trees mountains or buildings solar panels won t work well. Some states see even higher averages.

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. Key takeaways for an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually. This is assuming a system size of 6 kilowatts which is common in the us.

On average installation and the system together can run between 15 000 and 25 000.