Do Solar Panels Really Save You Money? The Truth

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It’s official: solar power is here to stay! Its technology is constantly being refined and perfected. This means that it remains a hot topic among conscious energy enthusiasts down to this day.

But as with any trend of this nature, there are a lot of questions that surround solar power’s credibility, especially when it comes to its financial claims. For instance, many want to know, “do solar panels really save you money?”

Well, we’re here to give you the lowdown on this question, so keep reading if you want to find out more.

How Much Do Solar Panels Cost?

Answering the question, “do you really save money with solar panels?” is not a straightforward one. It depends on the type of panels you want. So, the first thing we have to do is get a rough idea of the cost of solar panels and work from there.

A good ballpark figure in the US for a solar panel system is around $3.14/watt. Depending on the number of panels that suit your energy needs, the average cost can range from $10,000-$20,000. Naturally, a 12 kW system is more expensive than a 6 kW one but boasts greater savings in the long run for bigger houses.

You might be now asking yourself, “with such a steep installation cost, do you really save money installing solar panels?”. Well, it depends on the scope of your vision. With solar power, you could save tens of thousands on energy over decades. Let’s find out more!

Do Solar Panels Really Save You Money?

Long story short: they certainly do! But we do have to keep factors in mind like local energy rates, the size, and location of your home as well as its ability to receive sunlight.

The average American home spends roughly $1,500 a year on traditional energy. This is a figure that can, nowadays, be covered by solar power.

If you can find solar panels for sale in the region of $10,000 it will take you roughly 7 years to recoup the cost of installation. But from then on the cost of energy, thanks to the sun, will be next to nothing! Solar panels also add value to your home. So, you are also investing in your future in this regard.

These figures are only to give you an idea of the potential savings solar power can give you and your household. For a savings estimate more specific to your needs, further investigation will be necessary.

The Future Is Bright!

So—to reiterate—do solar panels really save you money? Yes! A thousand times, yes! But only if you are investing in the long term.

Going green means paying a price in the present to reap greater blessings in the future. Once we accept this principle, we will gain immense satisfaction from making our home and the planet a better place to live in…and save thousands in the process!

For more informative articles like this one feel free to keep browsing our site.

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Hi, I'm James George, the founder of Mind My Business NYC and author of this blog. I am an entrepreneur and internet marketer. My wish is that this website helps you to grow your business and achieve your goals.

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