Many people know that solar energy is an environmentally friendly alternative to other energy sources, but another major motivator to switch to solar energy is that it can help homeowners save money. If you’ve been thinking about investing in residential solar energy due to the environmental impacts and the money-saving opportunities, you might be curious how much you can expect to save.
There are several factors that can impact how much money you can save when you set up residential solar energy elements around your home. Some of these factors may include:
- How many hours of direct sunlight your solar panels receive on a daily basis
- The size and angle of your roof
- Your local electricity rates
- How much energy your household consumes on a regular basis
To estimate how much you’ll save by using solar panels, you’ll need to calculate exactly how much you spend on electricity on an annual basis. For instance, most families in the U.S. spend over $1,000 on electricity every year. Once you have this calculation, you’ll want to keep in mind that over the next few years, local rates for electricity in your area will likely increase.
After you make these calculations, you’ll be in a good position to determine exactly how much you can save when you install solar panels on your home. Of course, our team members can help you estimate how much you’ll save when you invest in residential solar energy. To learn more about saving money with solar panels and why investing in solar energy is a good way to go, contact us today.