Will Solar Panels Really Save You Money?

Solar power is energy that is generated from the sun. It’s converted into power, which is both the cleanest and most accessible energy source available. Solar technologies harness the sun’s energy for a variety of applications, including generating electricity, providing light, and heating water. Many experts agree that switching to solar panels will save you money by decreasing your electric bill. With that said, the amount you’ll save depends on a few factors. Here’s how you can determine if it’s right for you. 

Evaluate Sunlight Exposure

The more sun you have in your area, the more energy is produced, and the higher the potential savings you could realize by going solar. Your home’s orientation toward the sun and the amount of shade on your roof will also affect your sun exposure.

Estimate Residential Solar Panel Cost

Many homeowners find themselves asking: “Are solar panels worth it?” Solar panels in themselves aren’t always cheap, but the long-term savings definitely make up for the upfront investment. Most solar panel systems require very little maintenance and are designed to last for 30 years or more.

To determine the potential cost of a panel installation, first consider how much energy you consume regularly. You can find this number listed on your monthly utility bill. From there, you can determine what system size will generate that required amount.

Next, comparison shop in your area. Some companies may offer lower installation costs, but be sure to look for any hidden fees. Get quotes from at least three contractors, and don’t forget to check out their customer reviews and references.

Find Incentives

In certain cases, the government offers homeowners incentives for installing solar panels. You may be able to claim a certain percentage of installation costs on your taxes. Other credits vary by lotion.

Keep in mind that taking advantage of these perks is a matter of acting quickly. These benefits are not guaranteed to last. Because solar power is becoming more affordable, governments will continue to reduce the number of available incentives. 

Ultimately, while financial returns are most homeowners’ major incentive for going solar, you won’t just save money. When you install solar panels, you’re helping to improve the environment and reduce greenhouse gas emissions for a smaller overall carbon footprint. 

Now’s the time to make the switch! Contact us today for more information on how solar energy can be used to power your home or business.