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Tesla's latest mega-popular product isn't a car — and it could help save you $1,500 a year

Solar panels have been shown to save homeowners up to an average of $1,500 a year.

Solar panels have been shown to save homeowners up to an average of $1,500 a year.

The price of solar power has plummeted over the past several years, leading millions of American homeowners to add panels to their homes. 

But it can be hard to figure out which panels are the right ones for you. Tesla, the electric vehicle giant, is now offering solar panels as one of its increasingly popular products.

What are the benefits of Tesla solar panels?

Tesla solar panels offer a variety of benefits for homeowners. First, they're designed to be aesthetically pleasing, with a sleek, modern look that can enhance the appearance of your home. 

They're also designed to be durable and long-lasting, with a 25-year warranty. 

The primary benefit of Tesla solar panels may be the monthly savings on your electricity bill. Instead of spending a ton on inflated energy bills, you can capture your power from the sun and save cash while helping cool down the planet. 

While there are no estimates for Tesla panels specifically, solar panels have been shown to save homeowners up to an average of $1,500 a year.

And as electricity prices continue to rise, with Tesla panels, you can keep your energy costs down, all while reducing your reliance on the energy grid. This means that you can keep your appliances running even during power outages.

In some states, if you produce more electricity than you use, you can actually make money from your solar panels. And when it's time to sell your home, you can profit too, as Zillow found that houses with solar arrays sell for 4% more than those without.

Should you get Tesla solar panels?

Although Tesla solar panels offer many benefits, there are some tradeoffs to consider. The main tradeoff relates to the price of the Tesla panels. 

While they're more efficient than other solar arrays — able to generate more electricity — they're also often more expensive than other types of solar panels. According to SolarReviews.com, Tesla solar panels can range in price from $10,000 to $48,000, depending on the size of the installation, among other factors.

So while you'll probably save more money every month on electricity with the Tesla panels, you also need to balance it with a higher upfront cost. Ultimately, the best choice for you will depend on your budget and your energy needs.

If home panels aren't in the cards for you right now for whatever reason, learn how you can still save money on your energy bill through a community solar program.

Join our free newsletter for easy tips to save more, waste less, and help yourself while helping the planet.

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