How Much Do Solar Panels Save on Money and Energy?
One of the first questions most people ask when looking to switch to a renewable resource is: How Much Do Solar Panels Save?
There is no one-size-fits-all answer.
Each person’s investment and payoff will be different, as will the savings on the amount of energy they use. Use our Solar Calculator to help you determine how much you can save by switching to solar energy.
Below are a few points to consider to help you determine how much do solar panels save based on your home’s value, the cost of installation, and the amount of energy used.
Making Solar Work for You
The initial cost of installing a solar energy system may seem high, but there are rebates and tax credits to help offset this expense. Additionally, more financing options are becoming available that make the cost of a solar array much more manageable.
On The Rise
The total savings for your solar array will vary based on the location of your home, your average energy consumption and the cost of electricity in your area. With energy costs on the rise, energy bills are expected to surge in the near future, making renewable energy options much more attractive.
Come Full Circle
Most home owners receive full payback of their solar array within 8-10 years—a fraction of many mortgages. Businesses see full payback in 5-7 years. Once the system pays for itself, you’ll be seeing money in your pockets year after year.
Compare our vendors to your energy bills and see the savings stack up:
This California-based company produces the most efficient, durable, and aesthetic solar panels available. They offer the best warranty in the industry—a 25-year combined power performance and product warranty. Maximize your power and savings potential with SunPower.
SolarWorld produces more American-made panels than any other manufacturer and offers power performance warranties of 25- or 30-years. Its panels perform at or above their nominal power rating even in the harshest of conditions, from heavy snow accumulation to high heat.
Canadian Solar is one of the most established manufacturers in its industry. Their CS6P line of solar panels have the highest PVUSA Test Conditions (PTC) performance in their class. Due to competitive prices, this brand offers the fastest ROI at the lowest monthly payment.
How do I know if I can benefit from the 30% tax credit?
If you are unsure about how the renewable personal tax credit will benefit you, YellowLite encourages you to contact a local tax professional (One can be assigned to you if needed). The tax credit does roll over every consecutive year until 2016 so there are multiple years to use the entire balance of the tax credit.