The Complete Guide to Solar Roofs and the Impact They Can Have on Your Home Appliance Savings
Posted on November 8, 2021
The cost of solar panels is coming down faster than you might think. In fact, this past year, solar panel prices dropped by about 4% per month. The cost of solar panels has also been dropping by 13% annually. These amazing price drops and the benefits of solar panels and solar roofing are reasons to consider going solar. Solar panels and solar roofs allow you to generate free electricity – because the sun does most of the work for you – and save on your utility bills. Solar panels can
How Much Will It Cost to Install a Solar Roof?
It is difficult to give a cost estimate for solar installation because there are so many factors to consider. However, the cost of solar installation is typically lower than the cost of electricity from the grid.
The capital cost, or upfront cost, of installing solar panels typically ranges from $6 to $10 per square foot. The national average is $3.07 per square foot.
Installation costs are dependent on the size of the roof is covered, the number of panels required,
How Much Savings Can You Get From Solar Panels?
Solar energy power generation can vary from region to region. In the United States, it is estimated that a solar panel installation will produce between 1,000 and 2,000 kWh of power per year. The amount of electricity saved by a solar panel installation also varies widely, but a typical home solar panel system will save up to about $100 a year.
Home Selfe has a great post that outlines the total savings you get from solar energy.
Save money on electric bills.
Using solar panels instead of relying on a utility company can help you cut your electric bill by up to 50% per month. When your home has solar panels, energy from the sun will be used to power your electricity, except for when the sun is not present, such as during thunderstorms or at night. In these cases, regular electricity provided through your local utility company will be used as a backup. But remember, using power from the sun is free—so you will just have to pay for the electricity you use when the sun’s not out.
No maintenance required.
How many times have you had issues with your utility company? Have you had to pay for costly repairs or maintenance issues? With solar panels, you don’t have to worry about these expenses. Once installed, solar panels rarely have any issues that require maintenance or repairs, so think of it as a one-time fee for years and years of power. In fact, most solar panel companies have warranties or service contracts with homeowners that state they will come out and fix any issues that do arise at no cost to the homeowner. How many electric companies do you know of that offer these promises?
Tax credits.
Depending on where you live, you may be entitled to tax credits for making the environmentally-conscious decision to install solar panels. For example, the state of Maryland is one of many states that offers residents clean energy grants as well as Solar Renewable Energy Credits (SRECs) as an incentive for installing solar panels. But regardless of where you live, you could be eligible to receive a federal tax credit for your solar panels. The federal government will pay for up to 30% of your solar panel installation cost, making it far more affordable than you originally thought. Does your utility company ever put money back into your pocket? Didn’t think so!
Steady electric costs.
Utility companies rely on coal, oil and natural gas to power homes across the country. The cost of all three of these fossil fuels are vulnerable to fluctuating markets, so homeowners may notice rising electricity costs as the years go by. But when you install solar panels, you free yourself from having to worry about how much your electric company will charge you on a monthly basis. With solar panels, you are protecting yourself from having to deal with the rising electricity costs that will inevitably happen within the next few years. (Continued)
