How Much Can You Save With Solar?

Let’s calculate some savings for you with a case study:

Assumptions for Mr. & Mrs. Homeowner with 2 teenage children:

  1. Average monthly utility bill: $230
  2. Annual utility rate increase: 5.5% per annum (avg. of last 30 years in CA)

Mr. & Mrs. Homeowner get a qualified energy audit done of their home (appx. $500-800, depending on your part of the country) and it’s recommended they install a solar system to help heat their home, hot water, and even supply excess energy BACK to the energy grid (think of this as your roof making money!).

Mr. & Mrs. Homeowner decide to go ahead with the recommended improvements. They have a 1100kWh/month, 4kW solar system installed at an approximate cost of $26,000 – but with all the available tax credits (State and Federal) and alternative financing methods available for energy-efficient improvements to their home, the final cost to Mr. & Mrs. Homeowner is around $15,000.

Within the first 5 years of use, the system will help save the Homeowners $2,528 on their electric bill. Over the life of the system (avg. 25 years), they will save over 35% or $44,000 on their utility bills. And this isn’t even including the energy that is sold back to the grid, which will result in even higher savings!

For more information regarding alternative financing sources for solar installation, read my blog posts below or check out the Green Vendors link on my website at CyberGreenRealty.Com.

Until next time, Peace!

-TMC

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3 responses to this post.

  1. Depending on where you live it may also boost the home value. That isn’t really a savings, but it is a consideration for home owners that think they may not live in a home long enough to reach the break even point in savings from installing solar.

    Reply

  2. I agree with Acre’s response! it will always depend on the location of the solar panels.
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    QuestionAuthoriTees

    Reply

  3. Hi! I really enjoy reading your blog! If you keep making amazing posts like this I will come back every day to keep reading…………………

    Reply

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