Many people might wonder, “How much money can you save by using solar panels?” Well, if you are one of them then the answer is”A LOT”. By getting solar panels installed on housetops or roofs, homeowners could end up saving hundreds of precious dollars annually, natural resources as well as environment from degrading any further. It can truly be a win-win situation for people who go solar.
It is by now a well known fact that electricity rates are steadily rising year over year by around 4% for the past few years. This rise could be primarily attributed to increasing gas charges, coal mining cost, etc. Furthermore, it is estimated that by going solar, home and business property owners could save up to $20,000 over a 20 year period. And with use of solar power, carbon emissions will come down.
Therefore, if you are thinking, “How much money can solar panels save you?” you need to be rest assured that you will definitely save money if you opt for PV system installation. Nevertheless, the exact amount of money that can be saved by opting for clean and non-renewable solar energy will depend on a variety of factors, place of residence, size of system to be installed, position of roof, etc.
For people who think, “How much money can you save with solar energy?” here’s a list of some of the major savings which can be accrued with solar power system.
The prices of solar systems have come down significantly during the past few years. Due to growing demand for usage of pollution-free solar energy, the number of companies which manufacture cost-efficient solar panels have increased. As a result, this has lead to drastic reduction in costs of solar panels. In addition, you could also save money by taking advantage of incentives and tax breaks offered by state and federal governments for going solar. Many states in U.S. allow homeowners to enter into Power Purchase Agreement (PPA) with solar companies for installing residential solar system without requirement of any down payment.
It could be important for you to understand the amount of money you could save by going solar. Here is some piece of information pertaining to the same which you may find useful if you have decided to get solar panels installed at your home.
3 Ways to Save Money With Solar Energy
Installation costs of solar panels could be affordable because of growing demand and increasing market competition among service providers. Besides, solar power systems hardly require any maintenance and over a 20 period you can save over $20,000. So stop wondering, “How much money does solar energy save you?”
Federal government and even some state governments provide tax credits to home and business office owners for going solar. These may include property tax or performance incentives, etc. Thus, you could be enabled to save additional money. Hence, if you are thinking, “How much money does solar power save?” Just start researching programs that are available in your state.
By getting cost-efficient solar panels installed at your house, its value is slated to get raised as time passes. Therefore, little need to think, “How much can solar panels save in money?” All you need to do is only find the right solar power company to work with.