Did you know that as of 2018 there were enough solar panels installed in the United States to power 12.3 million homes? Solar energy is a great way to provide solar electricity to your home while reducing your footprint on the environment. Not only is solar energy sustainable for the environment, but it is sustainable for your finances too.

These solar savings are a big reason why more and more people continue to invest in the solar panel cost for their homes. You might be wondering if getting solar energy is the right move for your home. Well, you’re in luck because you’ve come to the perfect place to learn more about the solar savings you’ll gain from investing in solar electricity for your home.

Continue reading this article to learn more about how solar energy can save you money while also saving the planet.

How Much Can You Save In Solar Savings?

There are a number of steps that you need to take in order to determine if you’ll generate solar savings by investing in solar power for your home.

Before you decide to invest in a solar system to get the most of solar energy, a good starting point is to look at your current electric bill. One of the big benefits of solar panels is that they capture their own energy to generate electricity. This goes a long way towards decreasing the amount of electricity that you’ll need from the power grid.

Depending on how much electricity your household uses it might even eliminate your electric bill completely. One thing to keep in mind when it comes to your electric bill is how volatile energy costs are. Despite that, try to track your electric bill from month to month to determine if a solar system is a good fit for you.

You’ll also need to evaluate the amount of sunlight your home gets. A solar system won’t do you any good if your home is in a place where it only sees sunlight for an hour or two per day.

While it is important to know what your electric bill is from month to month, you should know that the average family in the United States of America spends around $1500 per year on electricity.

Getting solar panels is the best way to reduce your electric costs while also helping the environment. You need to look at your solar system as an up-front investment that saves you money in the long run.

Do You Still Have an Electric Bill?

There is a misconception when it comes to purchasing a solar system that your electric bill will completely disappear. That isn’t always the case and there are a number of factors that play into that. A big factor that plays into if you’ll still have an electric bill is how much electricity your family uses from month to month.

Even if you’re not using any electricity from the electric grid, you’ll still receive an electric bill from your electric company. This doesn’t mean that you’ll owe them money though. This is where net metering comes into the picture.

Net metering is available in most states throughout the United States, so you’ll have to do some research to make sure that your state is eligible. The way that most solar energy systems work is by sending the energy that you don’t use instantly gets sent back to the electric grid.

This might sound like a bad deal for you, but this extra electricity results in credits on your electric bill from the electric company. You’ll need to learn how to calculate how many solar panels i need in order to produce ample amounts of electricity for your home.

You’ll have a perfectly balanced system where your home will draw energy from the electric grid when the sun is down. During the day you’ll use the electricity produced by your solar panels and the extra energy will get sent to the electric grid to balance out the electricity you’re using during the night.

When you get your electric bill at the end of the month it will show how much electricity you used due to net metering. This will help you see how many credits you’ll get from the electric company. To summarize, you’ll still receive an electric bill but different factors will determine if you owe money or if you’ll get a credit from the electric company for the electricity that your solar panel produces.

How Much Do Solar Panels Cost?

An important consideration to make when thinking about getting solar panels for your home is the cost of the equipment and installation. While a solar system will most likely save you money over a long period of time, it is expensive upfront. The average cost for a solar system in the United States is somewhere between $15,000 and $18,000.

The good news is that there is a federal tax credit that you’ll get for making the switch to solar energy for your home. This tax credit knocks up to 30 percent off of the cost of your solar system. The cost of solar systems continues to get lower as time goes on and the technology becomes more accessible.

This is good news if you plan to get solar energy for your home in the next few years. Your local government will also offer rebates for switching to solar energy for your home. This will help to continue growing the savings you’ll get for making the switch to solar power.

Take Advantage of Solar Savings Today

There are tons of great benefits that you’ll see when you choose to invest in solar power. Your solar savings combine with a decreased carbon footprint to create a result where everyone wins. Solar systems might seem expensive upfront but you’ll get major tax breaks and rebates from the federal and local governments that will increase your savings.

You’ll also get credits from the electric company for the excess electricity that your solar system produces, saving you money on your energy bills.

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