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How Much Can You Save With a Solar System?

There are numerous reasons why people convert to a solar power system. To learn more about what these are, we recommend Energy Report. One of the most common reasons that drive homeowners to finally make the switch is its cost-efficiency. How much will you actually save? To answer this question, let’s talk about the potential savings, maintenance costs, and more.

solar system

Do Solar Panels Really Save You Money?

Yes, it does. After all, it can significantly reduce the amount of energy you’ll require from the grid, which can then lower your utility bills. You can also expect tax incentives and actual earnings via the government’s feed-in-tariff scheme for specific setups.

That said, how much money you can save and earn back will depend on a number of factors, including:

The Solar Panels

The first thing you need to consider is the size and quality of your solar panels. The bigger they are, the more sunlight they will be able to harvest and process. Better quality panels also create more electricity and function more efficiently. However, such panels will require a more substantial investment upfront.

Amount of Direct Sunlight

You also need to account for the average amount of direct sunlight you get each day. Those located in sunnier regions with longer summers can expect their panels to harvest more sunlight and will, therefore, enjoy more savings.

Battery Storage

Battery storage will not only impact how much energy you will be able to store and use. It will also increase your chances harvesting more energy than you actually need. When this happens, you can choose to sell more excess energy back to the grid and, in turn, earn money in the process.

Local Electricity Rates

Finally, you’ll also need to consider the electricity cost in your area, especially if you want to make a more accurate computation of your potential savings. Solar Panels Ireland cost is not just an installation of solar panels, it has way more components. If you’re interested in learning how much you can potentially save by converting to a solar system, we’ll show you a simple way to calculate it.

How Much Can You Save With Solar Panels?

First, you will need to determine how much you’re spending on electricity annually. You can do this by learning your household’s total kilowatt-hours (kWh) and multiplying it by your location’s average electricity rate.

For instance, according to Energy Sage, an average U.S. household consumes roughly 11,000 kWh of electricity per year. Meanwhile, the country’s average electricity rate is $0.1360.

Looking at these numbers, we can say that a typical American household spends around $1,500 on electricity every year. You can then use this amount as a reference once you have determined how much kWh your solar power system will be able to provide. Finally, deduct this amount from your earlier total.

The difference represents how much you can potentially save per year. Please take note that this computation won’t be accurate. After all, the amount of solar energy you’ll be able to harvest depends on your location and current weather conditions. Most homeowners can save 50 percent off their power bill in a regular month. Meanwhile, the savings can reach up to 90 percent during the summer.

Maintenance Costs vs. Other Systems

It is easy to overlook the amount we spend on maintenance costs for a traditional setup. After all, utility companies will add these extra fees on top of the base rate when they compute for our monthly bill.

On the other hand, a properly installed solar system has almost no maintenance cost. Most panels have an average lifespan of 25 to 30 years. With them, a 25-year warranty might cover any maintenance or repair costs, depending on your chosen solar panel provider.

Moreover, you’ll also be pleased to learn that solar panels are self-cleaning. For instance, suppose it’s the winter season. You won’t have to worry about shoveling the snow off your panel; the sun will probably melt it anyway.

Yes, we understand how expensive solar panel conversion can be due to the installation costs. That said, you can rest assured that it’s an investment you can earn back, thanks to the savings and potential earnings you’ll get from your new solar system.

Cutting Costs With Solar Energy

How much savings you’ll get will largely depend on several factors. The more direct sunlight you get each day, supported by ample battery storage, can significantly increase the capacity and efficiency of your system. This will then result in more savings and benefits.

The size and quality of your solar panels also play a crucial role, especially in terms of how much solar energy you’ll be able to harvest and convert into electricity.

The good news is, you won’t need to worry about maintenance costs anymore. As long as you invest in premium quality panels, you’ll be able to enjoy low maintenance requirements and a warranty that can last up to 25 years.


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