By now, most homeowners are well aware of the touted benefits of installing solar panels. Some have even investigated the claims more thoroughly, in order to form an accurate cost-benefit analysis. However, many homeowners are still unaware of how much solar panels actually save on home operating costs. It’s impossible to make an informed decision about solar power if you don’t have information on how much it can actually benefit you. With that in mind, let’s take a look at some numbers on using solar energy for your home.
Cost of Installation
The first thing that you must consider with any solar panel system, and the thing that causes most homeowners to avoid solar power, is the cost of installation. There is a perception among the populace that solar panels are expensive to install, as well as being only marginally effective. This is actually untrue on both counts. In fact, the cost of solar panel installation has fallen steadily over the last few years. It is now much cheaper to install a solar panel system than it was when the technology first started to see use in American homes. So, if perceived cost of installation is what is holding you back, we urge you to call us and see what the real numbers are.
The amount of energy savings you garner from a solar panel system is directly proportionate to the size of that system. You don’t have to get the largest system available to start seeing benefits. It all depends on how much of your home’s daily energy usage you want covered by the system. If you get a system large enough to cover 100% of your home’s energy costs, the money you save from paying your energy bill could be said to be going to covering the cost of the system. After that system is paid off by those savings, usually in 3-5 years, all money saved after that would be going directly into your pocket. Since most homes spend an average of $170 on their monthly energy bills, over 20 years you could save thousands upon thousands of dollars with a solar energy system.
If you’d like to know more about the statistics of solar energy, call Imagine Energy. We provide quality solar panel installation in the Portland area.