The Surprising Cost Savings When Switching To Solar
Solar power can save people a lot of money on their energy bills and sometimes in surprising ways that they might not have considered beforehand.
What’s Helpful to Know About Solar Savings
Solar savings refers to the amount of energy costs that those who make use of solar power are able to avoid, and those savings are very real.
The first thing you need to do to work out how much you could save when switching to solar is know how electricity you currently make use of, the cost of that, and whether you are likely to use the same amount or more in the future.
Key Factors that Contribute to Solar Savings
There are a variety of factors that can affect how much you will be able to save when switching to solar including how many hours of sunlight you receive per day, the angle and size of your roof, and local electricity rates.
According to statistics the average family in the United States spends more than $1450 per year on electricity, and that is without taking into account the volatility of electricity prices, which tend to increase every year.
Using a rooftop PV system locks in the costs of energy at a constant rate, taking away the sting of variable utility rates.
Short & Long-term Benefits
In the short term, you will see savings almost the moment your solar power system is turned on because of the immediate reduction in your electricity bill, but there are also long term cost savings when switching to solar especially if the system is fully paid for upon installation, meaning there are no lease payments.
Another perhaps surprising benefit of switching to solar is that it will actually increase the value of your home. The installation of solar panels is essentially an upgrade in the same vein of a renovated kitchen, and homes that have solar panels have been shown to sell for far higher prices than those without them. There are also a number of incentives to help persuade homeowners to switch to solar including the likes of state tax credits, local area rebates and the Solar Investment Tax Credit. There are also a number of special programs with utility companies.
Only Using What You Need
Those who do not actually use all of the solar power that is generated by their system can actually save more money by having the excess energy sent back to the power grid for use by your utility company elsewhere, which will result in your meter actually running backwards and further reducing the cost of the electricity you do still use.
It is actually possible to end up with a net zero electricity bill at the end of the year, providing you have used the same amount of energy as has been produced by your solar panels in that time.
Perhaps the most surprising cost savings associated with switching to solar however is to the environment. Using solar power reduces greenhouse gas emissions as well as that of other dangerous pollutants including the likes of nitrogen oxides and sulfur oxides.
The savings associated with switching to solar are plentiful and highly beneficial to you and to the planet.