How Does Solar Save Me Money?
Let's Walk Through It
We want to help you understand as much as possible about solar panels and systems before you make any decisions. You may hear a lot of claims about how solar will save you money, but how do they actually go about doing it?
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Solar Saves You Money By...
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Most people lease their solar panels, opting to pay a monthly fee. Solar panels are likely to eliminate your power bill, so they only pay the monthly cost of the panels, which is less than their electric bill.
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Energy bills have increased an average of 3% per year for the last 20 years. When you get your solar panels, you only pay the monthly cost of your panels even when energy bills skyrocket.
With solar panels, you create your own power, so you don't have to pay your power company to provide power to you, and in most cases, the amount of power you generate exceeds the amount of power you need.
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Frequently Asked Questions
Questions you need answers to.
When you install a solar energy system on your property, you will most likely completely eliminate your energy bill while also protecting yourself against future increases in electricity costs. Most people pay monthly for their solar panels, but that cost is often less than what they were paying in energy costs.
Studies have shown that homes with solar energy systems sell for more than homes without them. However, your property value will only increase if you own, rather than lease, your solar panel system. In most parts of the country, going solar will actually increase your property value more than a kitchen renovation.
In general, solar panels are very durable and capable of withstanding snow, wind, and hail. The various components of your solar power system will need to be replaced at different times, but your system should continue to generate electricity for 25 to 35 years.
Solar panels convert sunshine into power, so if your panels are covered in snow they can’t produce electricity. Snow generally isn’t heavy enough to cause structural issues with your panels, and since most panels are tilted at an angle the snow will slide off. If snow does accumulate, your panels are easy to clean.
Net metering is the system that utility companies use to credit solar energy system owners for the electricity produced by their solar panels. With net metering, you only pay for the electricity that you use beyond what your solar panels can generate.
Currently, the electric grid will shut down during extreme weather conditions or if consumer demand overloads the system. This power outage would include your solar panel system. Utilities can also shut down if they think the grid will become overloaded. One of the reasons for a shutdown is to protect utility technicians who are sent to fix damaged power lines. But with a battery, you will be able to stay powered up during blackouts.
If you can afford to pay your electricity bill you can afford to go solar. $0-down solar financing options, including both solar loans and solar leases, make it easy for homeowners with good credit to start saving on their electricity bills by going solar.
Unless your solar energy system includes battery storage and you are fully off the grid, you will still receive a bill from your utility company. However, most systems cut the amount you owe to $0, with a solar panel system that matches your energy use.