How Much Do You Save With Solar Panels?

August 14, 2024

Solar Panels – Did you know that the cost to install solar panels on a home has declined by 70%? The installation has never been cheaper, but how much do you save with solar panels? Solar savings are one of the biggest reasons to switch to solar power, so what can you expect to add to your wallet at the end of a month?

It varies from case to case, but you’ll always be saving a lot. Read on for some of the many ways that solar energy can help you save money.

Table of Contents

Lower Bills

One of the most notable ways that you can save some money with solar panels is simple: lower bills! The money you save on your electricity and utilities is one of the biggest reasons drawing people to switch.

Overall, this is where most of your savings will come from. Generating your own electricity makes it so that you use your own energy first and switch to your local power company when the sun is gone or the solar panel’s reserved energy is used up.

Doing so can help you save thousands over the course of a year. The amount you save will quickly add up to beyond what you spent installing your solar panels. While the exact amount saved depends entirely on your uses and how much power you use, you can expect to pay much less than you currently are.

Low Maintenance

Some people are turned away from the thought of switching to solar power under the assumption that they’ll be in over their heads in maintenance. Misconceptions about the complexity of solar power cause many to miss out on their solar savings.

In reality, solar panels have a low amount of maintenance. You should clean them once every month or two to ensure that they’re getting the most sunlight possible. Past this, trimming nearby trees and checking to ensure they aren’t damaged is all the maintenance you need to perform.

Net Metering

Outside of lower utility bills, net metering is one of the greatest reasons to switch to solar energy. A solar installation carries tax credits with it in many states, and most states also reimburse the owner for net metering.

Net metering is when your home has generated more electricity than it needs. The power is transferred to a local power plant and distributed to wherever power is needed. Essentially, your solar panels provide electricity for other places in your community, and you’re paid for your service!