How Much Money Will Solar Panels Save Me

Solar panels cost money upfront but will save you money in the long term the average home can save between 10 000 and 30 000 over the lifetime of your solar panel system start comparing custom quotes on the energysage marketplace to see your estimated savings from solar.

How much money will solar panels save me. On average installation and the system together can run between 15 000 and 25 000. This is a nationwide average. 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. A more universal way of looking at cost is to determine the cost per watt.

If your roof is deeply shaded by trees mountains or buildings solar panels won t work well. But the true cost of solar panels and whether they ll help you save money depends on a few key factors. Most solar panels are sold for about 0 70 per watt if bought in bulk. Key takeaways for an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually.

This is assuming a system size of 6 kilowatts which is common in the us. Most homeowners are paying about 1 5 per watt a 50 decrease from just a couple of years ago. It may seem obvious but access to sunlight is important. 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.

Some states see even higher averages.