How Much Money Do Solar Panels Save You

If you live in a state like california where the solar costs are considerably lower than electricity costs you can most definitely save money with solar.

How much money do solar panels save you.

Residential utility customer is 10 972 kilowatt hours kwh per year or an average of 914 kwh per month. The average annual electricity consumption for a u s. For example the average annual electricity use required for a u s. The estimate also considers the average sunshine available in the country and the average electricity price of 13 34 cents per kilowatt hour reported by the energy information.

For folks who like statistics. The first step to understanding how much solar can save you is to calculate how much you are currently spending on electricity every year. How much money do solar panels save you on electric bills. There are two types of savings you ll find with solar.

Multiply that by the national average electricity rate as of june 2020 0 13 per kwh and you ll find that the typical american family has electricity. This is assuming a system size of 6 kilowatts which is common in the us. Even if your electricity rates aren t as high as california prices going solar can still save you money.