Have you ever thought about how much money you spend on your electric bill? I’m sure that it’s not a small number. But have you considered the amount of money that solar panels save people? A lot of homeowners are installing solar panels because they want to make their homes energy-efficient and sustainable. How many solar panels to be self-sufficient will depend on the energy needs of the home.. This blog post will discuss why so many people choose solar panels and what they do for your home!
The amount you will save with your solar panels will depend on the size and angle of your roof, the amount of time you get direct sunlight on your panels, and the cost per kilowatt-hour where you live. However, it is estimated that a homeowner can save up to $50-$100 on their electrical bill every month by installing solar panels!
How much much will you save with solar panels?
Your local cost for electricity
The rate you pay for electricity is the biggest determining factor for saving with solar panels. The average cost for electricity is about 15 cents per kWh, but that can vary anywhere from 11 to 39 cents in the US alone.
The first step to understanding solar savings is calculating how much you are currently spending on electricity every year. For example, the average annual electricity use required for a U.S. household is approximately 10 500 kWh per year.
If you multiply this by the average cost of power per kilowatt-hour ($0.1360), you’ll find that the typical American family is spending just over $1400 on electricity alone each year!
By installing a 6kw solar system at your home, you could save 58% off your energy bill. That means you can save up to $812 on your utility bill per year.
Over the course of a 20-year lifespan of solar panels, you could save more than $16 000.
The size and angle of your roof
The size and angle of your roof is a critical consideration when deciding if solar panels will work for you.
The size and angle of your roof can affect how much sunlight hits the panels, which in turn affects production levels. For example, if east-, north- or south-facing roofs should have 25-degree angles, west-facing roofs should be 30 degrees to maximize sun exposure.
Your solar panels should also be installed at an angle that minimizes the amount of shading from nearby trees or other buildings.
The bigger your roof, the more solar panels you can install, leading to more electricity production.
The amount of direct sunlight per day
The amount of sunlight your solar panels will receive is one of the most important solar panels outputs factors.
– Solar panels use direct sunlight to create energy, so when there are fewer hours of sun each day, your solar panels will not generate much power because they’re getting less exposure.
– If you have cloudy days or shadows from other buildings or trees, then you will reduce your solar panel output by a significant amount.
– When there is no direct sunlight, your solar panels are not generating any energy at all.
– One day with full sun exposure can translate to two days of electricity production if you also use an efficient battery for storage.
Different types of solar panel systems influence your saving.
There are three types of solar panel systems, and they vary in price and solar production.
A grid-tied system does not include batteries which makes the upfront cost more affordable. This will make the time for you to recoup your investment shorter.
A grid-tied system also makes use of net-metering, which allows you to use solar energy during the day and switch back to relying on your utility at night. Any excess power produced will be fed back into the grid, and the utility company will credit you on your electric bill.
A stand-alone system or off-grid system includes batteries to store solar power, and you will be able to use the power from your batteries at night and during blackouts.
The upfront cost for this type of panel system is higher than a grid-tied system. However, it also has lower recurring costs because there are no monthly electric bills associated, and you do not rely on utility power.
A Hybrid solar panel system is a combination of a grid-tied and stand-alone system. You are connected to the utility grid and have a battery bank as well. That way, you can take advantage of the time-of-day rates and use your solar panels to supplement when you are on peak power.
Benefits of a solar panel system
Besides the benefit of saving money on utility bills, solar panels have a plethora of other benefits. These range from giving you bragging rights as an environmentally-friendly homeowner to helping the environment by reducing your carbon footprint and reliance on fossil fuels.
One thing that many homeowners don’t realize is how much money they can save with solar panels because there are a number of rebates, tax credits that can be applied to a home solar panel system.
If you are thinking about installing solar panels on your roof, it is worth exploring the many benefits of investing in renewable energy and making an investment for future generations.
If you’re considering getting solar panels to save money, keep in mind that this is a long-term investment. You need to consider how much your utility rates rise and the length of time it will take for your system to break even with those higher prices.
It could be worth it if you have high electric bills every month or live somewhere with costly electricity. But before making any decisions about switching over, do some research on what pricing opportunities are available where you live so that you know whether saving upfront would help more than waiting until later when there might not be any savings left at all.
