What Is The Annual Savings On Going Solar?
Solar panels are becoming more affordable. 46% of homeowners plan to switch to solar energy within the next few years. These numbers will only increase with the increasing demand for renewable energy. If you’re still unsure about solar energy, there are some things you should know. You might be asking what savings could I make by going solar. We are here to help you answer that question by looking at the entire solar industry.
What Is Solar Energy?
All types of energy can be harnessed using solar panels produce solar energy. Depending on the needs of your home, you can convert sunlight into heat or electricity. You can also store excess electricity in batteries to save it for later use.
Why Is Solar Energy Cheaper?
You will need to install solar panels in order to harness the sun’s energy. They used to be very expensive but are now much more affordable thanks to technological advances. In addition to this, government subsidies can help reduce the cost of going green by a substantial amount. If that weren’t enough, many banks offer loans to people who want to install solar panels.
How Much Money Could I Save?
The answer to the question “How much money can I save by going solar” depends on many factors. It is important to think about the size and power requirements of your solar panels. You will also need to decide whether you wish to stay connected to the national grid.
Going Off-Grid
You can remove your home completely from the grid if your solar system is strong enough. You won’t need to worry about future energy bills. This requires a large number of panels and a substantial initial investment. You can get your investment back in as little as two years, depending on how much electricity you have.
How much would you be able to save? If you consider that an average monthly electric bill is $100, you could save at least $12,000 per year. This number is only going to increase with increasing electricity prices.
You can also partially offset your energy consumption by using a medium-sized, solar panel system. This will allow you to reduce your electricity bills without having to disconnect from the national grid. Even better, staying connected will enable you to use Net Metering.
This means that you can donate some of your solar power to the grid to get even greater price reductions. If your home consumes 1000 kWh per month but your solar system sends 800 kWh to it, your bill will be 200 kWh.
What are the numbers? You can save up to $1,000 each year depending on where you live and how much energy you generate. You can even double your savings if you use net metering to the maximum extent of your system’s capacity.
Conclusion
What is the annual savings in money I could make by going solar? Depending on the size of your solar panel system, and how much energy you use, it could save you anywhere from $1,000 to $12,000. While solar panels are not cheap, they continue to be affordable. It’s only a matter of time before solar panels become more affordable due to the widespread adoption of renewable energies.
This post was written by Daniel Massaad, owner and expert solar technician at Energy Solutions Direct! ESD is one of the top solar companies in St Petersburg FL! 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!
