- Solar panel savings can depend on a lot of factors.
- In general, the savings come down to more or less $100 per month on electricity bills.
- There are also other things solar panels can save you from, such as stress.
- Solar panels can also save the environment and reduce pollution for you.
It is quite a cruel irony that the things we depend on the most and keep us alive are also the same ones which stress us out the most. We need and have shelter, food, medical care, education, and of course, energy. Now since you are here for that title above, we’re going to discuss energy.
The thing is, energy, specifically electricity, is very important and very stressful. You are thankful that you have it, yet you are also stressed that acquiring something like it can be very expensive. More so if you live in California, what with all the price hikes for electricity right now.
However, solar power and solar panels which is the technology needed to harness it can take away the stress factor when it comes to electricity. Energy from the sun is practically free, the only cost would be the panels themselves. So not only will solar panels save your sanity in dealing with your energy needs, it will also save you money you spent on electricity.
How much though?
The answer depends on a lot of factors, they are as follows:
- How much are you willing to invest in panels;
- The brand of the solar panels you have;
- How efficient the panels are;
- The cost of electricity where you live;
- How much sunlight do you have in your area;
- Do you have home energy storage;
- State policies;
- Whether your utility provider is willing to cooperate with your solar panel system.
These are some of the factors you will need to keep in mind if you are considering a solar panel setup for the savings. In places like California, you usually only have to worry about the first three factors since the state is pretty much the leader in terms of solar power and actually has lots of options available for consumers and business owners alike.
Now for states with the most expensive electricity, the monthly savings you could have with solar panels can be as high as $30,000 in a span of 20 years which is the typical guaranteed lifespan of solar panels. So divided, that is actually a yearly savings rate of $1500, and monthly is about $125 on electricity bills. One thing to note is that this is for states like California and Massachusetts, two states where electricity costs the highest at an estimated $0.19 per kWh.
In some states where traditional utility electricity is less expensive, the savings will probably be lower in value. You will also have to factor in the cost of solar panels which on average comes in at around $13,000 in all of U.S.
Peace of mind is valuable too
So yes, solar panels can certainly save you money. We are talking about the residential savings, however, businesses certainly have it better since they are some of the heaviest power users of electricity. As such, a business establishment or a chain of businesses using solar energy would definitely have some big and significant savings on electricity.
Remember when we stated that solar panels can also save you some vestiges of your sanity made worse by electricity price hikes? Well, that is also true, apart from money, you can also save yourself the trouble of having to worry about when the next electricity price hike will happen and how much it will add to your monthly bills. It is Summer after all and electricity is bound to be more expensive right now.
Saving the environment is priceless
You would think that solar panels are there primarily to save you from the overbearing monthly electricity bills. However, the usefulness of solar power extends way beyond the needs of human beings and corporations. Solar panels are also the key to saving the environment today.
Using and promoting solar power can actually and gradually remove the reliance of society on harmful fossil fuels such as oil, coal, and natural gas. Those three are the primary ingredients burned for electricity, and as we all know, burning produces pollution. In the case of electric power plants, they produce not just air pollution but also water pollution, tons of it in fact.
So when we use solar panels for electricity, we are actually saving the environment from pollution. Not to mention we are also saving some ecosystems where coal or oil is usually obtained, no more mining or drilling, no more disrupting other species just for energy. The Earth still has a long way to go before full clean and green energy is achieved, but solar power offers us a chance to contribute, one solar panel at a time.