July 6, 2023

Can Installing Solar Panels Save You Money?

Solar panels on a Bronx, NY home
Solar Panels on a Bronx, NY Home

Do Solar Panels Save Money?

The simple answer to this question is yes; solar panels make a difference when saving money. The amount of money you can save with solar panels depends on several factors. Local electricity rates, energy consumption, and the amount of direct sunlight your roof gets significantly contribute to how much money solar panels can save you.

How Much Does Solar Panel Installation Cost?

Typically, it costs anywhere from $13,000-$20,000 for a 6-KW system, but this cost varies by state. You can also purchase additional solar batteries that store daylight during the day, adding an extra $200 to your total for a single battery and an additional $14,000 for a lithium-ion battery system. Solar panels are reliable, so you won't have to worry about added costs beyond the initial installation.

How Much Can You Expect to Save?

It is difficult to give an exact amount of savings, but there's some simple math you can look at to get a rough estimate. According to greenlancer.com, U.S. households that go solar can expect savings of up to $1,500 annually. In the long run, when you weigh the lifespan of solar panels, the costs for installation, and the panel system used, customers can save anywhere from $10,000-$90,000 over 25 years by using solar panels.

Other Benefits of Solar Panels

·       Net Metering: allows you to get state and utility credit for any extra energy they don't use to lower your monthly electricity bill.

·       Rebates: several utility companies will pay you to go solar, allowing you to make some money for going solar.

·       Federal Solar Tax Credit: solar customers may be eligible for up to 30% tax credit for going solar if their system is installed before 2032.

Work with Quest Solar

When you decide to go solar, working with a reputable company to install your system is crucial. Quest Solar specializes in high-quality solar installations that can help increase your property's value, protect the environment, and reduce your electric bills. We are licensed and certified and take great pride in our work.

Visit our website to learn more about our solar installation options or call 888-420-0822 to request a free estimate.


How Much Solar Panels Save The Average Homeowner – Forbes Home

How Much do Solar Panels Save? Solar Savings by State | EnergySage

How Much Do Solar Panels Save? (greenlancer.com)

Quest Solar - Affordable Energy Efficient Solar Solutions

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