How Much Solar Panels Save

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.

How much solar panels save.

Cambridge s new solar tool shows residents and businesses how much sunshine their rooftop gets and how harnessing it will affect their bottom line. This is a nationwide average. For an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually. On average solar panels will save you over 1 100 per year on your electricity bills.

If you have a state tax liability 25 of the cost of your solar system can be claimed as a deduction to your state taxes up to 1 000. Since it is very unlikely your solar system will cost less than 4 000 you can expect a 1 000 tax credit. Some states see even higher averages. Learn how to estimate how much you ll spend and save by switching to solar.

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. This is assuming a system size of 6 kilowatts which is common in the us. If you re interested in seeing how much solar panels can save you in the long run this helpful calculator from energysage will show you your long term estimated savings with panels based on.