Home solar panels and energy storage could help New Yorkers reap massive savings on electric bills — to the tune of $1 billion.
If New York can ramp up its solar output to generate 20 gigawatts of energy by 2035, residents will avoid $1 billion in energy costs, according to a study shared by Solar Builder Magazine.
The study, conducted by Synapse Energy Economics, examined the savings potential of distributed solar systems — small systems that generate power for homes and other buildings. These are the types of systems that you can install in your own home using quotes and estimates from EnergySage.
Because distributed solar systems contribute excess power back to the grid, they reduce the price of electricity for everyone, including people who haven't installed solar panels. An increase in the state's solar capacity could total $46 in savings per year for downstate residents and $87 per year for those living upstate, the study found.
Cheaper electricity could contribute toward a broader transition away from fossil fuels, allowing New Yorkers to rack up even more savings. As the state becomes less reliant on gas for home heating in winter, residents will be less beholden to unpredictable gas prices.
"Gas prices are also highly sensitive to market conditions and therefore subject to volatility," the study noted. "Solar energy can protect ratepayers from this volatility by reducing reliance on gas, particularly during times of high demand when gas prices spike."
Regardless of which state you live in, you can start reducing your energy costs by investing in solar panels. The process does not need to break the bank — using EnergySage's free services, the average homeowner can save up to $10,000 on solar installation.
Solar savings are highly dependent on location, so EnergySage customizes its quotes to ensure that you are getting the most accurate price for your specific climate. Its state-by-state mapping tool also shows the average home solar costs by state and gathers local incentives, so you can be sure that you are taking advantage of all the savings available to you.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers that can help you save as much as $10k on installation. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best local options for your needs, and their expert advisers can help you compare quotes and pick a winner. |
Including battery storage in your setup is one of the best ways to maximize your energy savings and keep the lights on when the power goes out. EnergySage can help you get started exploring your battery options with free tools and competitive installation estimates.
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