Saving Money with Solar Panels

Saving Money with Solar Panels

The most rapidly growing energy source out there is solar. With solar roofing tiles to fully-powered skyscrapers, there is a lot to love about the latest developments in free energy, including the savings.

Many people don’t realize that they could be saving thousands of dollars, including hundreds in monthly electricity bills. Many areas of the United States are already becoming solar energy farms. The State of California recently passed a bill that would require all new homes built after 2020 to have solar power as well.

With the increased need for solar panels, many homeowners are looking at the costs and wondering if it is the right investment. In addition to homeowners, businesses and non-profits can save by incorporating solar panels into their buildings. By using solar energy to power up local grids, you can get savings back as well.

Solar Energy Savings on Electrical Costs

Whether you are a homeowner looking to save on utility costs or a business owner wanting to keep operational costs low, solar energy is a great way to do so. On average, homeowners save between $3,000 and $5,000+ per year on energy costs just by installing solar energy panels into their homes.

This is depend on where you live. Solar savings calculators show that you can reduce your electric bills down to just $10 to $20 per month using solar energy. While some worry about the installation costs, there are a variety of new installation methods that have brought down the cost of solar in recent years.

You can work with a professional team like NRG Upgrade to get an affordable solar energy system for your home as well. Businesses who want to save on electricity costs and become more green should also consider solar energy panels for their office buildings and warehouses. It is a great way to save money, and you can see the return on investment almost immediately.

Initial Costs vs Long-Term Savings

In the United States, homeowners pay between $2.50 and $3.60 per watt to install a solar system. After tax credits, the overall installation cost varies from $10,000 to $15,000. However, this is a great deal lower than it used to be, and with financing and installment plans, it’s easier than ever to start looking at solar power.

There are also long-term savings and investment opportunities to consider. With each month from the moment you turn on the panels, you’ll be saving money. In addition, if you sell your home, solar is figured into the selling price, and appraisers in California especially want to see solar power now that it has become a requirement for all new homes starting in 2020.

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Solar Energy Contractor Los Angeles

Installing solar energy panels is also more financially feasible for those who work with contractors. With private businesses, you can customize the panel system that works best for your home and get individual pricing so that it makes more sense for your budget.

Private contractors can also help you file for tax credits and start to earn savings almost immediately upon installing the system in your rooftop. Even by knowing the average cost per watt, you still have to consider different solar energy system costs based on size.

For example, a 6kW solar energy system typically costs the least, which can be about $7,000 to $10,000 depending on the tax credits and location. However, 8kW and 10kW solar energy systems can range up to $20,000 depending on the size and amount of panels necessary to power up your home.

Savings by State

For those who want to spend the least amount on solar, Washington and Florida are the cheapest for installation. For those who are looking for a solar panels contractor Los Angeles, there are a few more considerations like location, shade, and size of your home. Typically, solar price range is between $11,928 and $15,204 for homes in California.

How Much Will You Save with Solar?

Over 20 years, the average homeowner can save a lot by using solar energy instead of electrical nuclear power. With NRG Upgrade – solar panels contractor, you can also save a lot more on installation. Los Angeles homeowners stand to save the most as energy costs have increased drastically every year with nuclear power plants. By installing solar energy panels, LA homeowners are able to save over $50,000 in 20 years.

Most households will break even on electrical costs by using solar energy as well. This menas that your utility bills will go from over $100 to less than $5 in some cases.

Tips for Solar Shopping

If you are planning to purchase solar energy panels in the next few months, congratulations! This is the first step in living a clean energy life. Here are few things to look for as you start to shop.

  • Big, commercial solar companies typically don’t offer the best prices. Going local and talking to a contractor is definitely the best way to get a good price on installation and customization.
  • Compare types of solar energy panels and options. There are a variety of ways to install solar panels. You may want to increase your solar energy intake or you may need only a small system to power up your home.
  • Live energy efficiently. Part of solar energy power living is that you reduce electrical costs by the way you live as well.

Want to get into solar energy now? It’s the best time to do so. With 480,000 homes per year getting the solar energy treatment, older homes will need to upgrade to keep up with the new energy wave. See about a solar energy system for your home with a free consultation from NRG Upgrade.