Solar Panel Savings Scheme

It is quite a cruel paradox that the things we depend on the most and keep us alive are also the same ones which emphasize us out the most. We need and have shelter, food, medical care, education, and of course, power. Now considering you are here for that title above, we’re going to discuss energy.

The enigma is, energy, specifical electricity, is significant and very stressful. You are thankful that you have it, you are also stressed that acquiring something like it can be costly. More so, if you live in California, what with all the cost hikes for electricity right now.

However, solar power and solar panels which is the technology required to harness it can take away the stress factor when it comes to electricity. Energy from the sun is virtually free, and the only expense would be the panels themselves. So not only will solar panels save your sanity in dealing with your energy requirements, but it will also save you money you spent on electricity.

How Much Money?

The answer depends on a lot of circumstances; they are as follows:

How much are you prepared to invest in panels;
The kind of the solar panels you have;
How effective the panels are;
The price of electricity where you live;
How much sunlight do you have in your region;
Do you have home energy storage;
State procedures;

Does Utility Contribute?

These are some of the determinants you will need to keep in mind if you are considering a solar panel plan for the savings. In places like California, you usually only have to worry about the first three circumstances since the state is pretty much the leader regarding solar power and has lots of options available for customers and business owners alike.

Now for states with the most costly electricity, the monthly savings you could have with solar panels can be as high as $30,000 in 20 years which is the typical guaranteed lifespan of solar panels. So divided, that is a yearly savings rate of $1500, and monthly is about $125 on power bills. One thing to note is that this is for states like California and Massachusetts, two states where power costs the highest at an estimated $0.19 per kWh.

In some states where conventional utility electricity is less expensive, the savings will probably be lower in value. You will also have to factor in the price of solar panels which on average comes in at approximately $13,000 in all of U.S.

HahaSmart.com and try our price checker tool. How much solar power you need and how much you can save on your energy bills each month.