Our daily life is dependent on electricity. With the world turning techno-savvy, most of the houses are technically advanced as well. It looks interesting and appealing to install electronic items at home like electric window blinds, kitchen appliances, robotic vacuum cleaners, etc. However, they come with huge electricity bills as well. So why not shift to solar panels instead of high electricity bills every month.
Every year the electricity price increases in every state. On the contrary, in the US, the price of residential solar installation has dropped tremendously. Many homeowners are switching to solar power as they have analyzed that the average cost of solar panels is way cheaper than annual electricity bills. It is not only a clean energy source, but also saves petroleum, fuel, natural gas, coal, and other sources that are used to produce normal electricity.
Utility prices are always hiking. Installing a solar panel is like a long term plan. It not only benefits the environment but saves the money of homeowners which boosts household budgets. If you’re in a perfect geographical location (with proper sun energy or radiation in the area) then a solar panel is the best decision for you.
Here are a few key points to consider saving money through the solar panel –
Effect of Solar Panel
The size of the solar and the angle of the roof play a vital role in making the solar panel work efficiently. Also, the number of hours of daily sunlight is equally important for better performance.
How Much Money Does it Save
The solar panel cost calculator helps in calculating the major money saved compared to the solar and annual electricity bill. The average annual electricity required in a home is 10,972 kWh. Multiply that with the current month’s electricity rate, which gives you the annual electricity bill of a household. As discussed above, utility rates keep increasing every by 2.2%. When you have your own solar, you’ll have a constant energy cost compared to your neighbor, who is paying a higher price every month for their electricity bill.
Are there electricity bills with solar panels?
People think that installing solar panels will help them get rid of the electricity bill completely. False! As long as your property is grid-connected, you’ll keep receiving an electricity bill from the state. However, according to net metering, many states have a facility where your utility bill can be rolled over if your solar consumption is less than assumed. This leftover energy is drawn by the grid in exchange for credit, and you can also draw this energy at night from the grid when the sun isn’t shining bright.
Less Carbon Footprint
Apart from saving electricity bills, the solar panel is also reducing gas emission from power companies. This isn’t increasing the rate of carbon dioxide and monoxide in the air. Isn’t it great to have healthy air to breathe and a safe environment with lots of greenery and birds chirping in the fresh air?
The solar panel is the best way of saving money. That money which you have saved all year can be used for better purposes like savings for old age or preparing for a child’s education or marriage. If you can’t cut down on other expenses, you can surely try this method. Buying and installing a solar panel is slightly expensive, but it is a savings in the long run compared to other utility bills.