Solar panels are tricky because they're an investment in technology that has the biggest potential to reduce your monthly utilities. With solar technologies vastly improving every year, you have the best manufacturers and distributors working with you to enhance your roof's money-saving potential.
Most Littleton, CO homeowners have three questions about solar panels:
On average, a fully-capable solar panel set that can give your home 8-12-hour power can save you about $10,000-$30,000. Full-fledged, high-quality manufactured solar panels, such as from REC and Solaria, achieves exceptional solar energy savings enormously.
Once your solar panels fully operate, you can see the huge savings within the same billing cycle. If you've started halfway through the month, you can expect the second billing statement to reflect your bill total accurately.
Solar technologies have advanced hugely, allowing homes in Littleton, CO to save much power. On the other hand, a fully-paneled house is impractical due to the sun's direction. Right now, a full solar panel-powered residence is still impossible. However, the technology continues to evolve annually.
Energy Sage has an excellent post about the savings you can get with solar panels. Read more about them here.
How much money do solar panels save you on electric bills?
The first step to understanding how much solar can save you is to calculate how much you are currently spending on electricity every year. For example, the average annual electricity use required for a U.S. household is 10,649 kilowatt-hours (kWh). Multiply that by the national average electricity rate as of October 2020 ($0.1360 per kWh) and you’ll find that the typical American family is spending just under $1,450 a year on electricity alone.
Then, you have to consider the volatile nature of electricity prices and determine what utility rates will be in years to come. When you compare the cost of utility electricity with home solar, you should keep in mind that you can expect electricity rates to increase annually. Over the past decade, national electricity costs have increased at a rate of around 2.2% per year. Utility rate inflation is an added incentive for solar: when you generate your own energy with a rooftop PV system, you’re locking in energy costs at a constant rate so that you no longer have to consider variable utility rates.
Because of the nature of solar as an up-front investment, the only costs associated with a solar system will be the cost of your installation and any added electricity costs in the event that your panels do not completely offset 100% of your electricity use. Whether or not your system will completely offset your electricity needs is primarily determined by how accurately you size your PV system – you can calculate how many solar panels you’ll need to secure that percentage.
To provide a snapshot for typical bill savings from a solar installation, the following table offers state-by-state data for 20-year savings estimates with solar. The data incorporates a number of assumptions: (Continued)
You can always trust Littleton, CO's best solar panel installation team for all your needs. Roper Roofing is a Rec and Solaria-certified roofer who can provide you with high-quality roofing services too. Contact us today to learn more about everything that we can do for you.