16 Jul How Much will Solar Save me?
The number one selling point for going solar is savings. Instead of paying for expensive energy bills, solar panels allow you to enjoy electricity without having to overspend. Expenses are limited to the installation of the solar panels and periodic maintenance, unlike monthly power bills.
Many homeowners want to know the specific savings they can gain by converting to solar power. The following are simple ways to calculate your energy when you install solar panels:
- Rebates and incentives – Installing solar panels on your home may require substantial capital. But you can offset such expenses by taking advantage of the rebates and incentives offered by the government and other private institutions. In some states, homeowners who converted to solar energy received as much as half of their installation cost back in incentives.
- Think of the utility bills you don’t have to pay any more – Going solar means about 20 years without electric bills. If you are a big electricity user, you can easily compute the amount of savings from historical power bills and compare against converting to solar power.
- Energy rates keep rising – Figuring out the total amount of electricity you will pay in 20 years does not give you the correct amount of savings. This is because the rate of electricity keeps rising. This is something you need to factor in when you compute your savings for the lifetime of your solar panels.