Upgrading your home with solar panels is a well-established way to significantly reduce energy bills. While the month-to-month savings can be striking, it's easy to overlook how quickly those reductions compound over time.
YouTuber Kevin Espiritu (@epichomesteading) recently shared a video breaking down his solar savings five years after making the initial investment.
"Was that investment actually worth it?" Espiritu asks. Including federal tax credits and rebates, the homeowner explains he spent $30,243 on 25 panels across two installations.
Espiritu's installers estimated the system would generate about 12,850 kilowatt-hours of electricity annually. Five years later, he found those projections had been fairly accurate, with the panels producing a total of 58,270 kilowatt-hours over that span.
For five years' worth of electricity. Espiritu paid just over $1,440. "I know people out here … that are paying $400 a month for electricity," he says. "So clearly having solar reduced my energy bill."
These figures might seem surprising, but they are not uncommon. To see how much you could save on energy costs with solar panels, check out EnergySage for quick solar installation estimates and to compare quotes.
After running a detailed cost analysis, Espiritu estimated that his solar panel system has saved him roughly $22,830 in energy costs so far — enough for energy savings alone to cover about 70% of the system's upfront cost.
Although this investment has paid off for Espiritu, he says that whether it is a smart investment for homeowners depends on their energy usage, location, and utility rules.
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. |
If you're curious about upgrading your home with solar panels, connect with the experts at EnergySage. It can answer your questions and help you save up to $10,000 on installation and purchase costs.
EnergySage's state-by-state mapping tool helps homeowners compare average solar system costs and find available local incentives, making it easier to reduce upfront costs and maximize savings on rooftop solar.
Adding battery storage to a solar system can help keep your home powered during outages, reduce energy costs, and increase energy independence. EnergySage's free tools also make it easy to explore home battery options, compare competitive installation quotes, and find the right setup for your needs.
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