If you've given your bills a close look lately, you've likely been shocked at just how much energy costs have gone up. And those increases aren't expected to stop anytime soon.
As EnergySage wrote, by 2054, annual electricity costs are expected to hit $4,000 for the average American family. Over the next 30 years, that same family could pay more than $81,000 in total for electricity.
Fortunately, there is a solution. The analysis from EnergySage — one of the country's foremost independent, objective solar power authorities — shows that installing solar panels now could result in tens of thousands in savings over that same 30-year period.
"Instead of watching electric bills drain your budget year after year, going solar can lock in predictable energy costs and deliver an estimated $52,000 in savings before any potentially available incentives — turning a growing expense into lasting financial relief," EnergySage wrote.
Not only does EnergySage provide expert analysis when it comes to solar matters, but it also makes it easy to get panels installed at your home. Using its free tools, homeowners can quickly compare quotes from local, verified installers.
When you choose solar, you're choosing a cleaner planet, where at least one less home is relying solely upon fossil fuels for its electricity needs. You're also choosing considerably lower monthly energy bills, sometimes knocking the monthly costs down to $0.
Assuming a purchase cost of just below $30,000 for a new solar panel system and with projected energy savings starting at nearly $1,800 per year, EnergySage estimated that the average homeowner would make their money back sometime during the 14th year of solar ownership. As energy prices increase, those savings would compound, and by Year 20, the savings could approach $20,000. After 30 years, they could surpass $52,000.
All of that doesn't include any potential tax credits or rebates when purchasing the system, such as the federal solar tax credit that expires at the end of this year. In fact, EnergySage estimated that people who use its services — such as a free mapping tool that shows average installation costs and incentives in each state — can save up to $10,000, on average.
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. |
Even with credits and rebates, the upfront costs may be prohibitive for some who want solar energy at their house, but options still remain. Leasing programs, such as LightReach by Palmetto, allow homeowners to install solar panels and enjoy low-cost, renewable energy with no money down.
No matter if you lease or buy solar panels, you can bring your utility bills down even more by pairing them with other electric appliances, such as upgrading your HVAC system to an energy-efficient heat pump. Mitsubishi's expert installers will not only answer your heating and cooling questions, but they can help you find the right heat pump for your home and budget.
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If you don't have solar panels on your home, which of these factors is the biggest barrier to installing them? Click your choice to see results and speak your mind. |
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