Solar savings can differ significantly from customer to customer. To provide each person with a precise and accurate estimate of their potential solar savings, we must consider various national and state averages and specific individual factors.
Here are a few things about solar panel savings you should know.
Understanding Solar Power
Solar panels work by converting sunlight into electricity. They’re made up of photovoltaic (PV) cells, which use the sun’s energy to create an electrical current.
Solar panels are a clean, renewable source of energy, and they can be used to power everything from homes and businesses to streetlights and traffic signals.
Solar panels have several benefits, including:
- Reducing your carbon footprint
- Lowering your energy bills
- Increasing your home’s value
- Providing backup power during a power outage
Solar power is becoming increasingly popular, and there are a number of solar panel rebates and incentives available to help offset the cost of installation.
Average Cost Of Solar Panels And Installation
The cost of solar panels has fallen significantly in recent years, making them a more affordable option for homeowners and businesses.
The average cost of solar panels and installation is $13,000-$17,000. However, the cost of solar panels can vary depending on several factors, including the size of your system, the type of panels you choose, and the location of your home or business.
Solar panel rebates and incentives can also reduce the cost of solar panels. The federal government offers a tax credit of up to 30% of the cost of solar panels and installation, and many states offer additional rebates and incentives.
How Much Do Solar Panels Save?
Solar panels can save you a significant amount of money on your electric bill. The average home uses about 940 kilowatt-hours (kWh) of electricity per month. Solar panels can generate about 1,200 kWh of electricity per month. This means that solar panels can save you about 260 kWh of electricity per month, or about $30.
Factors That Affect Your Solar Power Costs
The amount of money you save with solar panels depends on several factors.
- The amount of sunlight your area gets.
Areas that get more sunlight will generate more electricity from solar panels, and will therefore save more money.
- The size of your solar panel system.
The bigger your system, the more electricity it will generate, and the more money you will save.
- The cost of electricity in your area.
Areas with higher electricity rates will save more money with solar panels than areas with lower electricity rates.
- The incentives and rebates available in your area.
Some states and utilities offer rebates and incentives for solar panel systems. These can significantly reduce the cost of a solar panel system, and the amount of money you save.
Solar panels can save you a significant amount of money on your energy bills. In addition, solar panels can help to protect the environment by reducing your carbon footprint. Solar panels are a wise investment for any homeowner looking to save money and become more energy-efficient.
Are you looking for a solar energy company in Bakersfield? At Arc Energy Co., we believe that solar power is the future of energy, and we are dedicated to helping homeowners make the most of this renewable source. If you’re interested in learning more about solar power and how it can benefit your home, please contact us today. We would be happy to discuss your options and help you start making the switch to solar!