How Much Money Will Solar Panels Save Me

It may seem obvious but access to sunlight is important.

How much money will solar panels save me.

Most homeowners are paying about 1 5 per watt a 50 decrease from just a couple of years ago. 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. On average solar panels will save you over 1 100 per year on your electricity bills.

Some states see even higher averages. This is a nationwide average. But the true cost of solar panels and whether they ll help you save money depends on a few key factors. This is assuming a system size of 6 kilowatts which is common in the us.

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. 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. Key takeaways for an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually. On average installation and the system together can run between 15 000 and 25 000.

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