New research confirms that investing in rooftop solar power delivers substantial savings for homeowners.
Earlier this year, The Cool Down reported on research showing how when some homes have solar power, it results in savings for everyone. Now, according to the Santa Cruz Sentinel, a study conducted by scientists at Lawrence Berkeley National Laboratory breaks down how much households save per year thanks to solar, broken down by income and where in the country they're located.
The goal of the study was to inform policymakers so they could incorporate energy burden into programs meant to lower that burden on lower-income households. The researchers analyzed data from 500,000 households from across the U.S. in 2021 and found that the average household saved an estimated $691 a year when taking into account all costs and benefits that go along with rooftop solar, like installation costs and tax credits.
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The study found that the installation of solar panels reduced the proportion of the family budget that went toward energy payments from 7.7% to 6.2% in low-income households, 4.1% to 3.3% in moderate-income households, and 2.4% to 1.9% in higher-income households.
The study showed that the savings depend on where you live. If you live in a state with high energy costs like California, the savings will be greater than in states where energy is much cheaper like in many southern states.
Lead researcher Sydney Forrester said, "Solar is a great strategy for reducing energy costs." But she added that it's just one element of reducing energy costs, saying that weatherization is another way to further reduce costs.
The hope is that the data gathered by the Lawrence Berkeley National Laboratory, a federally funded research and development center, will give policymakers the information they need to pass legislation that will make it easier for low-income households and others to transition to solar power.
"I applaud the paper's overall goal, which is to raise awareness about the potential for rooftop solar to help alleviate energy burden for low-income disadvantaged community households," said Eric Daniel Fournier, research director of the California Center for Sustainable Communities at UCLA's Institute of the Environment and Sustainability.
Going solar is one of the easiest and most affordable ways, thanks in part to the tax credits, to save money on your energy bills, but also cut down on the carbon pollution created by the dirty energy used to energize millions of homes, which contributes to the overheating of the planet.
There are various factors that go into how much you can save by going solar. An easy way to explore your options is by visiting EnergySage for free tools that will help you get quick installation estimates and the opportunity to compare quotes.
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