How Much Solar Panels Save

Some states see even higher averages.

How much solar panels save. Your electric bill location and incentives can impact the cost of solar panels. This is assuming a system size of 6 kilowatts which is common in the us. These savings are very real and their relative strength depends on the availability of local city and state incentives. Cambridge s new solar tool shows residents and businesses how much sunshine their rooftop gets and how harnessing it will affect their bottom line.

If you re interested in seeing how much solar panels can save you in the long run this helpful calculator from energysage will show you your long term estimated savings with panels based on. For an average sized 6kw solar system installed anywhere in the country solar panels will save about 1 500 annually. Going solar saves versus traditional energy costs per the us energy administration the current average cost of electricity from the traditional grid is 12 75 cents per kilowatt hour kwh. If you have a state tax liability 25 of the cost of your solar system can be claimed as a deduction to your state taxes up to 1 000.

This is a nationwide average. Since it is very unlikely your solar system will cost less than 4 000 you can expect a 1 000 tax credit. On average solar panels will save you over 1 100 per year on your electricity bills.