How Much Money Can I Save with Solar?

How Much Money Will Going Solar Save Me?

Adding solar panels to your home can be a huge investment, but the question of how much solar panels cost can easily be countered with “how much will I save?”. Adding solar panels to your home will not only reduce your carbon footprint, but will also save you money in the long run. How much money you are saving, however, will depend on a few factors.

Your Current Energy Costs

In order to know what you are going to save, you need to know what you are currently spending. Luckily, you have past bills you can refer to. Your bills should tell you how much your local utility charges per kilowatt-hour. The higher your usage, and the higher your rate per kilowatt-hour, the more you are going to save with solar panels.

How Much You Need VS How Much You Can Get

A huge factor in knowing how much solar panels can save you, is knowing how much solar energy you are going to need to offset your power usage. If you live somewhere that doesn’t get much sunlight, or if your home is located in a shaded area, you are not going to be able to receive the amount of solar energy it would take to maximize your savings.
The further north you live in the United States, the bigger your solar panel system will need to be, due to fewer hours of daylight. If you live in Minnesota, for example, you will likely need a larger system than someone who is living in Florida.

How Much You Can Afford

If you do happen to live somewhere that doesn’t receive much direct sunlight, you need to take into
consideration how many panels you can afford to have installed. You will have to budget based around what the installers you are hiring quote you at.

How Much You Should Expect To Save with Solar

As you can see, it is quite the complex equation to figure out the exact amount you can expect to save. Going solar will definitely affect your finances, but in a positive way, over time. The national average savings is just over $20k over the course of 25 years.
In all, going solar will ultimately generate big savings for homeowners. Are you ready to not only invest in a cleaner future, but a more profitable future as well? Contact us today for a free evaluation!
Mitchell Solar Solutions has an excellent reputation as a solar installer in the St Pete area, read our reviews and learn more about what we can do for you. Contact us at 727-504-8222