Do Solar Panels Really Save Money

Using solar energy in place of grid electricity can save money on the monthly electricity bills.

Do solar panels really save money.

The average home can save between 10 000 and 30 000 over the lifetime of your solar panel system. Rising property values lowered utility costs and the federal tax credit all ease the upfront costs of installing solar panels. The advantages of installing solar panels include a contribution toward saving the planet saving money on electricity costs and even an increase in the equity of your home. Solar panels have many advantages and saving money is definitely one of them.

Solar panels cost money upfront but will save you more money in the long term. That being said how much you ll save depends on a number of factors. There are state and federal tax exemptions and incentives for homeowners and business owners who use a solar panel system. If your roof is deeply shaded by trees mountains or buildings solar panels won t work well.

Though solar panel installation is quite an investment the overall benefit offsets the one time high investment. The simple answer to the question do solar panels really save you money is yes. It may seem obvious but access to sunlight is important. Direct hours of daily sunlight and the size and angle of your roof are both important but local electricity rates play the biggest role in determining how much solar can save you.