How Much Money Do I Save With Solar Panels

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.

How much money do i save with solar panels.

This is assuming a system size of 6 kilowatts which is common in the us. This is a nationwide average. 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. Some states see even higher averages.

If your roof is deeply shaded by trees mountains or buildings solar panels won t work well. 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. 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.

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. On average solar panels will save you over 1 100 per year on your electricity bills.