How Much Do Solar Panels Save on Electricity Bills?

SolarCalendarFebruary 13, 2019

People always talk about how solar panels are so great, but why is that? For example, how much do solar panels really save people on their electricity bills?

In this article, we’ll talk about the financial and environmental savings you can get by going solar.

How Much Do Solar Panels Save on Electricity Bills?

There are two main reasons why people become interested in solar energy. One is related to how much solar panels can save them on their electricity bills, and the other is how much it can reduce their carbon footprint.

Let’s talk about the financial savings first.

The amount of money you can save will vary depending on your house. The size of your solar energy system, its exposure to direct sunlight, and the incentives available in your area, will all affect how much your system will cost you and how much money it will save you.

That being said, solar energy is an affordable, viable option for a lot of people. Most don’t even realize that their house qualifies for money-saving solar panels. According to the Office of Energy & Renewable Energy (EERE.), the cost of solar has dropped every year since 2009, making it easier and easier for most people to save money with solar panels.

If you’re still unsure whether or not you could save money on your electricity bill with solar panels, consider the different ways to pay for solar panels. You can buy your solar panels outright or take out a loan to pay for them, or you could get a solar power purchase agreement (PPA) or a lease.

Each of these financing options can help you save money in a different way, while still allowing you to go solar.

Talk with a solar rep about what options are available in your area to learn the possible ways you could save money with solar energy.

How Much Do Solar Panels Reduce Your Carbon Footprint And Thus, Save The Environment?

Now let’s talk about the ways a solar energy system can reduce your carbon footprint.

In another article, the EERE said that the average American household produces about 6.8 metric tons of greenhouse gas emissions. These gases cause upwards of $167 billion in health and environmental damages. Greenhouse gases also cost the world $279 billion in climate change-related damages.

The point is, the way we normally get our energy comes at a real cost. 

And solar is able to relieve those costs.

By reducing your carbon footprint with solar energy, you can do your part to reduce the damages caused by climate change, dirty air, and dirty water.

In fact, you can do all of this while saving money on your electricity bill.

It’s a win-win situation!

What Will Affect Your Solar Savings?

We already mentioned some of the factors that will change how much you can save by going solar. But we thought it would be worth going into a bit more detail.

The Federal Trade Commission has a lot of suggestions for finding out whether solar panels are the right choice for you.

Here are some of their tips:

  • Review your utility bill to see how much energy you used last year and what it cost.
  • Evaluate how you use energy and whether or not you could make any reasonable reductions to your energy consumption.
  • Consider how long you plan on staying in your house.
  • Figure out what size of a system you would need to meet your needs.
  • Calculate the average number of direct sunlight hours your house is exposed to.
  • Calculate the pitch or angle of your roof.
  • Consider weather patterns which could affect your solar energy system.

Sounds like a lot of work, right? Well, it is. And how much any one of these factors will affect you and your home will be determined on a house-by-house basis.

Luckily, solar reps like those at Vivint Solar are experts in figuring out whether or not a solar energy system is right for you. They’ll let you know what they found and whether or not they would recommend you as a candidate for solar

All you have to do is give us a call and let our representatives do the rest.

Solar Is A Long-term Investment

Whether you’re interested in solar for the financial savings or for the environmental impact you can make,  know that solar panels are a long-term investment. Solar panels last for years and years and so do their benefits.

Make sure that you understand all the ways you could benefit from solar so you’re not just looking at the issue through a short-term lens.

Save Money With Vivint Solar

If you’re looking to save your wallet and the environment, then you should definitely consider going solar. At Vivint Solar, we help our customers power their lives with clean, affordable solar energy.

Contact one of our Vivint Solar reps today so you can start the process of figuring out if solar panels are the right option for you and your house. 

We’d love to help you out!

How to Go Solar

Vivint Solar makes renewable energy a simple and affordable alternative. We take care of everything from solar system design, to paperwork and permitting, to installation and maintenance.

Get a free estimate