Solar is cheaper than ever — here's how to save big on your monthly bills.
The scoop
When it comes to buying solar, there's no time like the present. In just a decade, the price of solar declined by 43%, according to the Florida Phoenix.
Across the entire country, nearly 5 million homeowners have solar panels, and as installation prices continue to drop, more homeowners will hop on board. In Florida, 30,000 homeowners installed solar panels last year, "bringing the number of installations to over 253,000," per the Phoenix.
How it's working
Solar panels can save homeowners hundreds of dollars each month, and that adds up. According to EnergySage, "the average U.S. homeowner will save around $50,000 over 25 years after installing solar panels."
Combined with other electricity-saving home upgrades, such as unplugging standby electronics and replacing incandescent bulbs with LEDs, your energy bills should plummet.
Installation is already cheap, but the Inflation Reduction Act can make it even cheaper. The IRA can cover up to 30% of the cost — that's thousands of dollars in savings, making solar an even better deal.
Unfortunately, these savings might not be around much longer because of the changing presidential administrations, so if you're considering panels, time is of the essence.
If you've been on the fence about solar, EnergySage can help you get a good idea of how much you'd save on your electricity bills by installing solar panels. Just answer a few questions about your house, including its size and location, and EnergySage will give you installation estimates. You can even compare quotes from different companies so you get the best deal possible.
What people are saying
Alongside dropping prices, the IRA has made solar panels increasingly accessible for homeowners.
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"Rooftop solar has, until recently, largely been limited to customers who own their homes, have higher-than-average incomes and credit scores," Enact Systems CEO Deep Chakraborty told Renewable Energy Magazine. "However in the past few years, solar adoption has started to spread to more moderate-income households, driven by falling solar prices, better financing options and, in many states, incentives aimed at expanding access in lower-income communities."
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