With Father’s Day comes presents like shoes, ties, and tools. Maybe even a cute homemade card from the kids or breakfast in bed. While those gifts are great, we know what you really want - a lower electric bill.
Let’s face it, being a dad gets expensive. You have to pay for sports practices, music lessons, groceries, clothes… the list goes on and on. On top of that, your kids won’t stop touching the thermostat.
If you’re looking for a long-term way to cut costs, turn to solar savings. Going green is a great way to keep some green in your pocket, too. You’ll benefit from solar energy savings for the entire lifetime of your system.
Wondering how to lower electric bill payments? We have a solution. Find out more about solar installation and learn how to calculate solar savings below.
If you’re wondering how to lower electric bill payments or, better yet, eliminate your electric bill altogether, look no further than solar power. Thousands of people take advantage of solar panel savings every year.
Purchasing a solar installation can result in thousands of dollars of solar savings. Though solar does require an initial investment, the maintenance costs are extremely low while the potential solar energy savings are high.
Solar energy is a long-term savings opportunity. By generating your own energy, you’ll eliminate the middle man (your utility company). Instead of buying energy from someone else, you’ll create your own, which you can then use for free. This will result in a lower electric bill for your family.
Over time, these solar savings will pay off the initial cost of the system, and continue to save you money even after you break-even. You’ll pocket solar panel savings throughout the entire lifetime of your system.
Think of solar savings like renting an apartment vs. owning a home. While buying a house requires an initial investment and years of mortgage payments, those costs are incomparable to the thousands of dollars you’ll save in the long run. Plus, if you decide to move, you’ll get the majority of your money back by selling your home. This is comparable to solar savings.
On the other hand, while monthly rent payments might feel more manageable than a mortgage, they’re equivalent to throwing money in the trash. Your payments aren’t working towards lower costs; your rent will stay the same, or likely increase, regardless of how long you pay it. Worst of all, if you move, you don’t have an asset that you can sell for profit. All the money you paid is gone for good. This is similar to paying a utility provider for electricity.
So, just how much money should you expect to save? It can be tough to calculate solar savings because of nuances like climate, local tax incentives, amount of sunlight, and more. Project Sunroof offers a general estimate of solar energy savings to those who enter their addresses. Check out their solar savings estimator here.
Using national averages, here’s what you can expect in terms of solar panel savings:
According to the U.S. Energy Information Administration, the typical U.S. utility customer uses 10,972 kWh of electricity each year. The average national electricity rate is currently $0.13/kWh, and it’s only increasing. If you multiply these two numbers together, you’ll see that the average American spends $1,426.36 on electricity each year.
Let’s face it, that’s a ridiculous amount of money to spend on electricity. If you were to install a residential solar system that generated enough electricity to cover your usage, you could lower your electric bill to $0. By this solar savings estimator, the average American could completely eliminate spending on electricity.
When we talk about solar savings we’re talking about “avoided cost”, or money saved by replacing a more expensive option. In this case, solar savings are an avoided cost. Therefore, if your system generates all of your electricity, you can calculate solar savings simply by calculating the yearly amount you spend on electricity. That means the average American could save $1,426.36 each year.
Plus, thanks to tax credits, solar panels are getting more and more affordable. Solar has experienced a 90% price reduction since 2010. Considering potential solar panel savings, switching to solar really isn’t as expensive as many think. The initial cost is comparable to buying a car, except solar panels don’t depreciate in value the way cars do. In fact, most systems last 25-30 years.
When you calculate solar savings, it’s easy to see how your money can build up over time. Use a solar savings estimator or speak to a solar installer to get a better idea of potential savings for your particular home.
Today is a great day to take advantage of solar panel savings. If you want a lower electric bill, get started with Greenlife Solar.
Greenlife Solar is a free service designed to help you view all of your solar installation options in one place. Use our comparison tool to find the best deal in your area and get the most solar panel savings possible.
We’ll send you pricing and information on industry-leading solar installers near you. Simply compare your options to choose the best one for your home. Greenlife Solar is here to help you pick a solar installation company and lower your electricity bill for life.
This year, celebrate Father’s Day by getting the lower electric bill you’ve always dreamed of. Get started today.