Sun is plentiful in Charleston, South Carolina. On average, people in Charleston enjoy 230 days of sunshine each year. That makes it a perfect location for residential solar panels.
If you live in the Charleston area, you may have seen other homes with solar panels and wondered, “how much money do you save with solar panels?” Read on and learn more about buying solar panels and what kind of solar panel savings you can expect.
How to Calculate the Savings
Home solar panels create savings in many ways. They reduce the carbon footprint of your home and reduce dependency on fossil fuels for household power. That means you can expect to save money on your monthly utility bills.
But there are other savings, too. Many companies offer rebates and incentives on solar panel installation. There are state and federal tax credits available.
How Much Money Do You Save With Solar Panels?
The average U.S. household uses approximately 877 kWh of electricity each month. The national average cost for electricity is $0.13 per kWh. Over the course of the year, that totals nearly $1,400. Adding the best solar panels from a trusted source like blueravensolar.com/south-carolina/charleston/ can reduce or eliminate those monthly electricity bills.
With rebates, incentives, and tax credits, you can save big on the upfront cost of installing solar panels. And over time, the cost savings on your utility bills can pay for the installation.
A Power Sharing Strategy
In most cases, adding solar panels to your home doesn’t completely disconnect you from the grid. Being connected to the grid can help you save even more money by selling excess electricity back to the power utility.
During the day, your solar panels will convert sunlight to usable electricity. It stores this electricity, but you may not use it all. When you’re at work, and the kids are at school, your house isn’t using very much electricity.
The excess energy you don’t use is transmitted to the power company, and you receive credits for it. When you need electricity at night or when your storage is low, you can draw electricity from the power company using these credits.
It’s possible to pay zero dollars each for electricity with this kind of arrangement.
Save With Solar
How much money do you save with solar panels? The answer depends on many variables, but it’s possible to spend zero dollars on your electric bill each month. The installation cost can be offset with rebates, credits, and tax incentives.
Your solar panel installation may produce all the power you need for your home, and in some cases, you’ll produce more than you need. When that happens, you can transmit that back to the power company to share the load and receive credit on your bill.
To learn more about solar power and other household technologies, please explore the rest of our site.
