Many companies that sell solar panels give you the basic pitch that it’ll save you money every month on your electric bill. But, is this true? Will the costs of buying and installing a solar system really result in a low enough electric bill that it will be worth it to you?
The first thing that you should know is that the cost of solar panels has dropped significantly since the creation of the first solar cell sixty years ago. In the last 10 years, the cost of solar panels has fallen approximately seventy percent, allowing homeowners and businesses to consider solar energy as a viable and cost effective option for their electricity. Plus, while the cost of a solar energy system has decreased, property appraisers have declared that a home that utilizes solar energy have an increased market value of 8-10%, making it one of the best home improvements that can be made.
However, while it does make your home’s value increase, and while the cost of a solar energy system have become much more cost effective, still people want to know how much they will save on their home’s electric bill. With your standard utility company, you will pay for every kilowatt-hour of electricity you use, and the rate you pay for that kilowatt-hour will vary depending on where you live. Here in Las Vegas, we pay about .132/kWH, but that price increases every year, by about 4.8%. In 2017 for example, the price of a kilowatt-hour increased by $0.0043, and that’s just one year. With solar energy, the more energy that you use, the more money you will save from switching from your standard electric company.
Also, while many people think that solar energy is only an option for people that live in extremely sunny places, this is actually not true. In fact, a lot of the states in the Northeast have an extremely high amount of people using solar energy. Why is this? Well, in states like New York, New Jersey, and Massachusetts, electricity bills are often much higher, making the savings one gets from using solar energy much more. Also, the government gives out incentives for those who switch to using solar energy, making the installation of solar energy a lot cheaper.
If you are just getting started on researching solar energy, schedule a consultation with us, here at Sun Source Energy, so that we can help you learn how much you could be saving with solar energy. Our experienced solar energy technicians will educate you on how solar panels work, how much a solar energy system will cost, and the different payment options we provide for a solar system. We can help you estimate how much you will save, and how quickly your investment into solar energy will pay off.
Here at Sun Source Energy in Las Vegas, we don’t just offer you the option to purchase a solar energy system, but we also lease out our solar energy systems so that you can see how much solar energy saves you, without the commitment of buying the system outright.