How Much Money Can Solar Panels Save Me?


“Can I really save money with solar power?” It’s a question we hear all the time from people who are skeptical about whether or not they’ll actually benefit from switching their home over to clean, renewable electricity. The overwhelming majority of the time, the answer is an emphatic “yes,” you can save money on your utility bills by making this switch, and in fact, you could potentially save thousands. Still don’t believe it? On this blog, we’ll show you both how and how much you can save if you decide to make the switch soon!

How Will I Save?

It’s easy to picture how you’ll save money with solar electricity. The sun emits a tremendous amount of energy, the vast majority of which is wasted by simply hitting the ground, where it is absorbed. A solar panel system instead captures that energy and converts it to electricity through a clean and renewable process. A high-efficiency solar panel array installed on the roof of a home can provide this energy all throughout the day, especially here in Southern California where sunlight is plentiful for more than 90 percent of the year.

But what happens when the sun goes down? Simple. Solar panels are designed to work in a variety of ways, including working in tandem with your local grid connection to ensure you’re never without power. When your panels are no longer able to generate enough energy to sustain your home, the system then switches over to local power.

There are other ways you can bolster your own savings, such as a “net metering” rate plan, which sells your unused solar electricity back to the grid for a credit on your bill, or a battery backup system, which captures this unused energy and saves it for later, allowing you to prolong the amount of time you’re self-reliant and not dependent on grid power.

How Much Will I Save?

To be honest, there’s no easy or straightforward answer to that. How much you’ll save depends entirely on a multitude of factors, including:

  • Your home’s location
  • The type of panels you install
  • Where you install your panels
  • Your energy consumption habits
  • Your current energy rate with your utility company

However, to give you a general idea of how much you could save, let’s take a look at an example. According to EnergySage, the average cost per kilowatt-hour of electricity in California is roughly 18 cents, and the cost to install a solar panel system is $13,370. If you use the national average amount of electricity per year (11,000 kilowatt-hours), you’ll spend roughly $1,980 per year on electricity.

However, that rate won’t stay flat, so assuming a 2.2% inflation rate, you’ll actually wind up saving over $28,000 on your electric bills over a 20-year period! In fact, the savings will usually be greater than that because most high-quality solar energy panels are rated to last 30 years or more!

To find out more specifically how much money you could save in your home, speak with a Southern California solar power expert at Sea Bright Solar! Call us at (909) 480-3783 for a solar consultation and find out how much we could save you every month!

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