Are solar savings real?

Solar savings are very real, but exactly how much you save depends on the availability of local, city, and state incentives. A great way to find a reliable solar panel cost estimate near you is by using our solar calculator, which is built using real cost estimates from solar installers.

Do solar panels save money?

Shooting for 100% offset, or slightly more, is common and often provides the greatest energy cost savings. However, solar panels can still save you money by offsetting 50% or 75% of your electricity usage. Another major variable that affects savings is the amount of sun your solar panels get, known as solar irradiance.

How much does solar cost a year?

On average, U.S. customers save about $1,500 a year by going solar – $37,500 over the course of 25 years. But for individual solar energy systems, these savings can vary from $10,000 – $90,000 depending on roof size, sunlight exposure, local energy rates, and solar incentives.

How much money can you save by going solar?

For example, in Hawaii, even though the monthly consumption is one of the lowest in the country at around 557 kWh— according to the Energy Information Administration (EIA) —the average solar customer saves around $78,000 by going solar because the local energy prices are nearly triple the national average.

How much does a 6 kW solar system save?

The average 6 kW solar panel system installed anywhere in the country will save you about $1,500 on your electricity bills annually. Solar savings are very real, but exactly how much you save depends on the availability of local, city, and state incentives.

Are solar panels a good investment?

Solar panels are an expensive initial investment but provide significant savings on energy bills over time. Depending on your area's electricity costs, you could save between $34,000 and $120,000 over the lifetime of your solar panel system. The higher your local electricity prices, the greater your potential for solar savings.