How Much Do You Save With Solar Panels in 2022?

You can save the world, and it’s a lot easier than you think! Okay, maybe that’s a little dramatic, but there is an easy way to help protect the environment and even earn money while doing it. To do this, all you need to do is connect your home to a solar panel array.

Save With Solar Panels

Stay with us, we know what you’re thinking: “Solar panels are expensive.” Surprisingly, they’re pretty affordable, and they come with massive savings in the long run.

“Alright, but how much do you save with solar panels anyway?” We’ve got that answer for you. Keep reading to learn how much you can save (and even earn) on a solar array.

How Much Do Solar Panels Cost?

Now here’s something that you might find hard to believe: home solar panels are more affordable than ever. At about $250 per 100 watts, customers are saving over 70% on solar compared to what they were paying in 2010.

With the average household having a 6kW solar array, that equates to around $15,000. And if you live in an area with a lot of peak sun hours, you could be paying even less.

Surprisingly, the price of the panels only constitutes 25% of the overall cost. Additional costs include labor fees, operational costs, and supplementary equipment. Customers that are considering power storage can expect to pay an additional cost for high-quality lithium battery banks.

How Much Do You Save With Solar Panels?

It’s shown that while consumers love the environmental benefits of their panels, the main advantage comes with the financial savings potential. In fact, many people find that their solar array can cut nearly all the costs of their electrical bills. And those that connect their solar to their local power grid can even turn their savings into earnings.

While the upfront cost of installation might put some people off, solar adopters find money saved in the long-term investment. With solar systems lasting up to 25 years, the saving in electricity bills adds up to over $37,000 on average. That’s nearly $22,000 saved over the life of the solar array.

And if that’s not enough, many federal and government incentives exist to offset the initial investment. Those buying solar panels in 2022 qualify for a 26% tax credit at the end of the year. Customers can see thousands of dollars coming back to them during tax season.

Where to Get the Best Solar Panel Savings

If you’re asking “how much do you save with solar panels?” it’s essential that you work with a credible solar panel installer. Because the industry is so new, you can easily find yourself working with installers taking advantage of your lack of info. A quality company takes time to educate you through the installation process and is transparent with its prices.

For the best practice, work with established solar installers like Blue Raven Solar. With many years in the industry, they have the experience and reputation to back up their work. You can check out their home page to learn more about how they help customers adopt solar power.

More on the Benefits of Solar Panels

Now that you know the answer to the question “how much do you save with solar panels?” you can think about how a solar array can benefit your household. But don’t wait too long; government incentives only last for a few more years, and the demand for alternative energy is skyrocketing. To learn more about why so many people are switching to solar, check out our Technology section.

About Ankeet Solanki

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