Solar energy is known to be highly cost-effective, but do you have any idea how much? You have probably heard that having a solar roof panel system on your home or business provides all kinds of financial benefits, as well as energy independence. Of course, it also costs money, so it may help to figure out approximately how much money you can potentially save. After all, you want your investment to be a wise one that will pay off in the long run. So before you have photovoltaic solar panels installed on your home, consider how much you can actually save.
Get to Know the Average Numbers for Your State
The amount you will save over time depends on a few factors, and the answer to the question of how much you will save is different for each location in the United States. One simple way that you can derive an approximate estimate is by using average numbers for your area. For instance, the average home in the U.S. Mountain West region uses about 800 kilowatts per hour each month, compared to a national average of 908 kwh. If you think you use more than the average, keep this in mind when calculating your possible savings. The average price for electricity in this area is a little over 11 cents per kwh, compared to a national average of 12 cents per kwh. Of course, you can always look at your past electric bills to determine your actual use.
Calculate the Amount of Energy You Will Save
To calculate your estimated savings, you can search the Internet for solar radiance values, your utility provider’s exact price for electricity and solar insolation values for your area, then plug all these numbers into a complicated formula. You can also find many useful solar savings calculators online. Or, to make the most accurate determination, consult with a reputable solar power sales and installation contractor in your area. They can provide specifics with regard to financing costs and information relevant to your local area’s data.
What to Keep in Mind
Most solar savings estimates demonstrate that you can easily cut your electric bill in half with solar, although many customers save significantly more. On average, Americans are saving between $20,000 and $30,000 over the life of their PV system. Of course, your savings will depend on a variety of factors, not the least of which is how much sunlight your roof gets. You do have the option of a ground-mounted system as well, if your roof isn’t practical for installing the panels.
If the amount you can potentially save on energy sounds good to you, it’s time to look seriously into your solar power options. Contact a local solar energy sales and service contractor in your area today to learn more about how solar power generation systems can benefit you.