Why should you use solar energy?
- If your utility bills are high,
- you live in a prime location,
- and you qualify for tax breaks or other benefits,
- consider solar energy.
A solar installation makes sense for many homeowners because of the rising cost of electricity from traditional sources. However, a few key factors determine whether or not solar panels will save you money. A Center for Sustainable Energy report estimates that installation and the system cost between $15,000 and $25,000 on average.
Electric utility rates vary significantly depending on where a company is located. In the United States, based on the Energy Information Administration’s calculations, the average retail price per unit of energy is about 13 cents.
Find out a few things beforehand before you take the plunge. Location, incentives, electricity bill, etc., all impact your wallet. You can determine if you will save more money from solar panels by following these six steps.
Take a look at your electric bill.
A solar panel system can provide you with a significant reduction or even elimination of your monthly electricity bill. In general, if your electricity bills are higher, you will benefit more from switching. However, it is wise for you to examine your usage and rates. You will find significant charges fluctuate regularly.
As mentioned by Garrett Nilsen, deputy director for the U.S. Department of Energy’s solar energy technologies office. “If a utility’s electricity prices fluctuate, so could the amount of savings. Similarly, if energy consumption changes, the amount of savings can also vary.”