Solar Panel Savings:
Can Solar Panels Really Save You Money?
New solar systems last 20-25 years. Most systems pay for themselves within the first 8 years!
10-kw systemRuns Avg. Household
10-12 yearPay Off Period
15-kw systemRuns Avg. Household Plus
8-12 yearPay Off Period
Solar Panel Savings: How Many Kilowatt Hours Do You Use?
The Kilowatt Hour (kWh for short) is the unit of measurement power companies use to measure how much electricity your household uses per month. The power companies then multiple the number of kWh used by the price of electricity per kWh to determine your monthly electricity bill. The national average cost of a kWh is $0.13. You are probably using about 12,000 kWh per year in your home.
Kilowatt Hours include things like heating and cooling, appliances, TVs, and interior and exterior lighting so the hours of use can add up quickly. You can safely estimate that you will use around 1,200 kWh per month in your home.
Solar Panel Systems can provide free, renewable energy for up to 25 years. Based on the National Average kWh cost of $0.13 your energy bills will total $46,000 or more over a 25 year period. In some parts of the country the cost per kWh hour is much higher than $0.13.
With an 8 or 10-kw Solar Panel System you could easily save $20,000 in that time or even more depending on your energy usage. What could you do with $20,000?
Solar Panel Savings: The 3 Main Types Of Solar Panel Systems
Ready to save that $20,000 over the next 25 years with solar power? There are 3 main types of solar panel systems you need to know about that will help you save big on your energy costs. Whether for business or personal life, solar energy can help you get ahead financially and positively impact the environment.
Belmont Solar is here to help you make the right decision about which solar panel system will help you save the most over time. First you need an overview of each type of solar system.
Solar Panel Savings: Grid Tied Solar System
Grid Tied Solar Systems connect to the utility grid to provide you with free, clean, renewable energy. During the day your Grid Tied system will collect power from the sun’s rays hitting its panels. That power flows directly to your home or business so that you are not drawing on the power grid. All the power you use will be taken from the power coming from your solar system. Check out our entire page devoted to Grid Tied Solar Systems to learn more.
If your solar system produces more energy than is needed any excess power is sent to the power grid to be used by others. Not only are you creating your own clean energy you are actually creating clean energy for your neighbors. Any energy sent to the grid is then credited to you from your power company. That credit is taken off of any electricity bill balance you have. It’s pretty incredible how you can not only save on your energy costs but also give energy back to your community.
Solar Panel Savings: Grid Tied Battery Backup Solar System
A Grid Tied Battery Backup Solar System is very similar to a Grid Tied System but there is one major difference, instead of sending extra solar energy back to the power grid it actually stores that extra energy in backup battery banks for you to use in an emergency or overnight. Battery Backup systems are so cool because they provide extra security and peace of mind for their users. You never have to worry about not having light or access to critical systems if there is a power outage or because a bad storm damaged power lines close to your home. Check out our Battery Backup Page if you’re interested in more information about Battery Backup Solar Systems.
Grid Tied Battery Backup Systems increase your solar panel savings potential because you will automatically draw on your battery bank power before drawing on the grid for power at night or during an emergency. If you’re ready to have that extra security that a Battery Backup Solar System brings just contact us and we’ll help you with the next steps.
Solar Panel Savings: Off Grid Solar System
“Off the Grid” is a pretty common term these days and it conjures up images of cabins secluded deep in the woods far away from civilization. Off Grid Solar Systems are not quite like that though. Each Off Grid Solar System is custom designed to meet your specific energy needs. You can be “Off the Grid” with an Off Grid Solar Panel System and still live in a suburban neighborhood. Off Grid Solar Systems provide the power you need to run your appliances, lights, water pumps, electric heat, and other small basic needs. At Belmont Solar we take each job seriously and make sure that you have what you need to be “Off the Grid”.
Choosing an Off Grid Solar System is a big decision and we’ll help you make that decision. Off Grid Solar Panel Arrays need a lot of space in order to collect enough energy from the sun to power your entire life day and night. Contact us today if you’re ready to ask more questions about Off Grid Solar.
Do Solar Panels Actually Save You Money?
Yes They Do! After the payoff period you can calculate your Return On Investment (ROI) by looking at your electricity usage. If, for example, you normally use 1,200 kWh of electricity at $0.13 per kWh, your savings are $156. That’s the money you would spend on electricity per month without solar. This $156 is the extra money that you are now pocketing and will continue to pocket, and even more, as electricity rates rise over the years.
When it comes to solar savings, traditional energy doesn’t stand a chance!
Invest in Solar Energy Now to Save Money Later!
There are multiple ways that solar energy can save you and your household in the long run. Solar panels not only save you money on energy costs by generating electricity from sunlight, but they are now also more affordable than one may think, due to subsidies and tax rebates. Not to mention, if you qualify for the USDA REAP grant, you could save up to 75% off a solar energy system for your farm!
Additionally, just by creating renewable energy you earn, so called, ‘Solar Renewable Energy Certificates’ or SREC’s, and you can turn these SREC’s into cash. Solar Renewable Energy Certificates (SREC’s) are a tradable commodity. The homeowner earns one SREC for every 1000 kWh produced and is able to sell these certificates to the SREC state market by registering their system with the state market. Once registered, it is automatic, as your inverter will relay the kWh you produced to the state. So sit back and relax, and see the money coming into your bank account.