You will likely find a variety of claims regarding solar energy savings when you do your research online. These claims may seem plausible or even absurd. It can be difficult to determine the truth. Although switching to solar energy may not be as easy as companies claim, it can be a good investment for the future. You can harness the sun’s power to get back some of your monthly donations to Big Energy. The question is: How much solar power can I save each year? Let’s take an in-depth look.
Solar energy can be more complex than companies might want you to believe. Our roofs, utilities, and energy requirements are dependent on where we live and what our house looks like. To turn solar energy into savings, you will need to answer a few questions.
These questions might include:
- How sunny is your roof
- What average energy use does your family consume?
- How many solar panels can you fit on your roof?
- Is your utility company offering net metering?
- Do you want to save money over the long term?
People who see the long-term benefits of solar are called “future planners”. They invest in solar because they can see the long-term implications.
You live in a sunny area (hello, Florida!) Your electricity consumption will be offset by your solar panels pretty evenly. You can save some money on your utility bills by using net metering if your company offers it. You will see the greatest financial benefits about 8-12 years from now. These will pay off your solar investment and provide electricity for most of the month. It sounds amazing, right?
A homeowner who installs solar power can average a savings of $600-800 per year. You could save $17,976 over a 20-year span in Florida. This estimate is not perfect as every home and roof is unique.
No matter whether you go solar, you’ll still need to pay your monthly electricity bill, at least until your solar system is fully paid off. Your costs will rise as utility companies increase their rates year after year. You can avoid these price hikes and keep control of your expenses with solar. You can eliminate your electricity bills completely once your solar power system has been paid off.
Here are some factors that will help you save money with solar power:
- Electricity rates– If you live in an area with high electricity rates, your solar power savings will be greater as you can avoid using utility energy.
- You can save more with local financial incentives.
- Solar financing– You can purchase with cash, a loan like PACE financing, or a lease. Each has its own value proposition and long-term returns.
It can be difficult to install residential solar panels. Although this is a large investment, it can yield a great return on investment. ESD Solar will help you design the best system for your home and begin reaping the rewards of solar power.
This post was written by Daniel Massaad, owner and expert solar technician at Energy Solutions Direct! ESD is the top choice for solar panels in Tampa! Our licensed and certified contractors are masters of their craft; with years of experience servicing the great Tampa Bay area and beyond, the choice is simple. ESD excels at offering you the best in solar value!