Your electric bill can be one of your biggest expenses, but it doesn't have to be that way. One homeowner has found a way to significantly cut down on that cost.
They shared with r/massachusetts that they received a negative electric bill due to their solar panels.
The scoop
The top of the bill pictured in the post read, "No Payment Due," because they have a negative balance of $1,357.75.
The original poster said they purchased the solar panels two years ago without any loans or a lease. They already have a 45% return on investment.
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The OP stated in the post's title, "Best electric bill yet!"
They used to pay on average between $450 and $500 a month. The OP said they "have two EVs, electric hot water, and two zone central AC in a 2,100sqft single family home."
How it's helping
Savings can vary depending on your home, but you can save about $3,000 per year by installing solar panels.
EnergySage's free search tool allows you to compare vetted, local installers and quotes. The company can even help you save up to $10,000 on installation costs. And its map can help you find average solar costs and the financial incentives that are available in your state.
Not only will installing solar panels save you money, but they're also better for the environment. They don't rely on dirty energy sources, which create heat-trapping, polluting gases, to power your home. This means you'll be producing fewer toxic gases.
You can save more money by upgrading your HVAC system to a heat pump. According to Rewiring America, you can save about $400 a year on your electricity bill.
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What everyone's saying
Redditors in the comments were pretty impressed by the savings.
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One user shared their own experience: "I've been in my house 5 years, the guy I bought it from was running a hot tub, which he took. I've got close to $4k in accumulated credits from net metering."
Another user said, "As a realtor in this area, I'd probably lead with this picture if we ever listed your house."
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