How Much do Solar Panels Save You Per Year?

Who hasn't wondered, "how much do solar panels save?"  It's a pressing question, and one that makes sense.

Solar panel technology has been around for decades, but today it is more streamlined and effective than ever before.  Once solar panels are installed and paid off, there is no cost for energy.  Now, a solar panel system can range anywhere from several thousand dollars to just under $20,000; but you've got to keep in mind that the cost of the system will already be in proportion to your existing energy costs.

Consider this: a one-bedroom house in Florida with a kitchen, a living room, and a garage will have an average energy bill of around $200. Now if you multiply $200 by the number of months in a year, twelve, you get $2400.  If you live in the same house for twenty years, that's $48,000. If you install a solar energy system that costs $15,000, over twenty years you've still saved $33,000.  Now, that's all provided you're paying an average monthly amount for energy. 

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All that being said, the cost of solar panels is naturally going to differ depending on the size of your house, how many people live there, how much energy the house uses on the daily, and whether or not trees need to be trimmed in order for the sun to have maximum impact.  You could save as much as $2400 a year just by switching to solar.  Even if you can't afford to buy the solar system outright, financing options are still probably going to be cheaper than your conventional energy bill; and once you're over the hill, suddenly they just...disappear!

How much do solar panels save?  Well, in a year they could save you several thousand dollars.  How much do solar panels save in the long term?  If you lived in the same house fifty years, you could save over $100,000.  Forty years brings you to $96,000 at an average Orlando energy cost of $200 a month.  Forty-two years would bring you to $100,800.  If you purchased the house at twenty-five, put the solar energy apparatus in that year, and continued to live on the premises until you were sixty-five, you would have an ample retirement from energy savings alone.

So consider solar energy.  It's more cost effective than ever before, and even if you can't afford the system outright, financing is still less than the monthly average in the majority of energy situations.

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Topics: Saving with Solar

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