How Much Money Will Solar Panels Save Me

Some states see even higher averages.

How much money will solar panels save me.

It may seem obvious but access to sunlight is important. 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. 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. 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.

Most solar panels are sold for about 0 70 per watt if bought in bulk. These savings are very real and their relative strength depends on the availability of local city and state incentives. This is assuming a system size of 6 kilowatts which is common in the us. If your roof is deeply shaded by trees mountains or buildings solar panels won t work well.

Key takeaways for an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually. This is a nationwide average. On average solar panels will save you over 1 100 per year on your electricity bills. A more universal way of looking at cost is to determine the cost per watt.

But the true cost of solar panels and whether they ll help you save money depends on a few key factors.