How Much Money Will Solar Panels Save Me

But the true cost of solar panels and whether they ll help you save money depends on a few key factors.

How much money will solar panels save me.

If your roof is deeply shaded by trees mountains or buildings solar panels won t work well. On average installation and the system together can run between 15 000 and 25 000. On average solar panels will save you over 1 100 per year on your electricity bills. It may seem obvious but access to sunlight is important.

Some states see even higher averages. The credit could save the average homeowner 5 000 or more depending on the size of the system according to energysage a solar marketplace with a calculator to help estimate savings. Solar panels cost money upfront but will save you money in the long term the average home can save between 10 000 and 30 000 over the lifetime of your solar panel system start comparing custom quotes on the energysage marketplace to see your estimated savings from solar. Most solar panels are sold for about 0 70 per watt if bought in bulk.

Key takeaways for an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually. Going solar saves versus traditional energy costs per the us energy administration the current average cost of electricity from the traditional grid is 12 75 cents per kilowatt hour kwh. The estimate also considers the average sunshine available in the country and the average electricity price of 13 34 cents per kilowatt hour reported by the energy information administration. These savings are very real and their relative strength depends on the availability of local city and state incentives.

A more universal way of looking at cost is to determine the cost per watt.