How Solar Panels Save Money

Your panels will produce power during the day by converting sunlight into energy that you can use to power your home.

How solar panels save money.

In addition to saving on electricity bills you will earn one srec for every 1 000 kilowatt hours generated by your solar panels. Srecs have a variable sales price but they represent extra income beyond your power bill savings. Obviously if solar panels were to save you money it would come in the form of reduced electricity bills. Net energy metering allows you to earn energy credits at the retail value for the energy your solar panels produce.

So yes you do save money. A 6 kw solar panel system will normally accumulate between 7 and 10 srecs per year. Well just look at this moxie customer s electric bill before going solar and after going solar. If you re looking to save a ton of money it really depends on a few key factors.

However exactly how much you save is greatly influenced by where you live. Certain states like arizona and california average more sunlight hours per day. People can also profit from solar energy by having solar panels installed on their own homes or businesses in order to take advantage of net metering to reduce utility bills. Your home s orientation toward the.

The truth is solar is a great investment and will save you tens of thousands of dollars over their lifetime. Saving money by reducing your electricity bill by cutting down the amount of energy you use is no fluke. Electric bill before solar panels electic bill after solar panels. One of the main advantages of installing solar panels is the reduction of your electric bill.

Since you ll be generating most of your home s power getting solar panels installed saves you lots of money. Investing in solar panels is a long term investment but they pay for themselves relatively quickly. Solar panels give you the ability to save money by creating a natural source of energy that has the ability to power your home and heat your pool.