Solar panels can save you hundreds of dollars a year on your energy bills, but sometimes it can be hard to visualize. Yet one homeowner addressed that and shared their results after switching to solar energy, providing a great reminder that solar is worth the upgrade.
In the r/solar subreddit, they shared they had been paying $500 per month on utility bills in the winter and anywhere from $800 to $1,000 in the summer for AC needs before adding in a small 3 kW off-grid solar set a year ago and more recently a 14 kW grid-tied set of panels this year.
With that combo, they can generate about 70 kWh of energy per day. That covered so much of their high energy needs that they said their electric bill reported they only used 500 kWh from the grid for the entire first month with the full set of panels, or about 17 kWh per day compared to the roughly 70 kWh from the panels. Their final bill for the month went way down to about $100.
🗣️ If you were to install home solar panels, which of these factors would be your primary motivation?
🔘 Energy independence ⚡
🔘 Lower power bills 💰
🔘 Helping the planet 🌎
🔘 No chance I ever go solar 🚫
🗳️ Click your choice to see results and speak your mind
"I was expecting my bill to go down, and was pleasantly surprised when I saw just how far down it went," they wrote. They said they're so happy with the results, they're looking to add more panels next year and get their bill as close to zero as they can.
Switching to solar is one of the best ways to save money on your energy bills. Forbes estimated you can save between $25,500 and $33,000 over a typical set of panels' lifetime. They also add to your property values, adding up to $15,000 in resale value, per the Berkeley Lab. On top of the financial savings, solar panels are great for the environment, relying on the sun's energy instead of dirty sources like fossil fuels.
The homeowner mentioned in their post that they acquired a five-year loan to pay $42,000 for their grid-tied panels, but there are opportunities for savings thanks to the Inflation Reduction Act. The IRA offers a 30% tax credit for rooftop solar, so for example, installation in Wyoming costs up to $45,000, but with the tax credit, residents could save up to $13,000.
The IRA's benefits may not be around forever, though. President-elect Donald Trump has stated he plans to roll back the incentives provided by the act, but any change would require an act of Congress.
If you are interested in making the switch, EnergySage helps consumers shop for solar installation, comparing quotes and finding the best fit for your needs.
People in the comments of the post were wowed by the savings touted by the homeowner.
"Utility operators are going to be faced with a customer revolt in the next few years; as people realize just how cheap solar power is, they're going to seriously question why they're paying so much." one person wrote.
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