Solar panel owners get honest about bill savings after homeowner questions value: 'I've saved $15,454 to date'

A homeowner considering installing some home upgrades wanted candid feedback from solar panel owners — and no one is more honest than Reddit users. 

The scoop

The inquiry was posted in the r/Solar subreddit. The original poster wanted to know how much other people paid for the equipment and installation relative to the size of their homes. 

"Thinking of getting solar panels soon and wanted to know how much it 'should' cost me," the OP said. 

Dozens of Redditors responded with their own solar panel experiences. Many users included the type of system installed, the cost of installation, and how much money they saved. 

How it's helping

Installing solar panels can help homeowners increase the value of their homes and reduce their monthly energy bills. In fact, households could save thousands of dollars a year over the lifetime of a solar panel. 

Homeowners are also eligible to earn tax credits under the Inflation Reduction Act, though they might have to act quickly to take advantage of the financial incentives. President Donald Trump has stated that he intends to remove the subsidies. However, any major changes to the IRA would ultimately require an act of Congress. 

Not only can smart home technology help homeowners save money, but it also benefits the environment. Installing solar panels can reduce reliance on dirty energy sources like oil, natural gas, and coal that contribute to planet-overheating pollution. According to EnergySage, a household that relies on solar power for electricity rather than dirty energy has the same effect as eliminating the production of 8,440 pounds of coal per year. 

The benefits of solar energy seem to be catching on nationwide. According to the Solar Energy Industries Association, solar installations in the United States have now exceeded 5 million.

What everyone's saying

While the OP weighs options for solar upgrades, commenters shared some numbers that could influence their decision. "I've saved $15,454 to date," wrote one. "Roughly $370 a month." 

"My electric bills are $30 or less now," another said. "I'm estimating that I'll take my electric bill of nearly $5k/year before solar down to less than $500/year now."

Another commenter suggested that the homeowner "get multiple competing quotes" before making the upgrades. For homeowners considering investing in solar energy, EnergySage offers great free tools to get quick solar installation estimates from vetted, top-rated installers and compare quotes.

What is stopping you from upgrading to a heat pump system? The cost of installation 💵 I live in a cold area 🥶 I don't know enough about it 🤷 I already have one 😎 Click your choice to see results and speak your mind.

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