If you’ve ever spoken to anybody from any solar company, you must have heard a similar sales pitch: “Switching to solar will save you hundreds of dollars on energy bills!” But how true is that pitch? That depends upon several factors. Read ahead to find out the breakdown of whether or not a residential solar panel installation is worth it for you.
HOW MUCH IS YOUR ELECTRICITY BILL?
How much do you pay for your electricity is the number one factor of how much money you’ll save with a residential solar panel installation?
You currently pay your utility company for each kilowatt-hour (kWh) of electricity you utilize, so depending on where you reside, you possibly can be paying anywhere between 22 to 25 cents per kWh.
Whenever you install residential solar panels, you’re pretty much installing a mini power plant on your roof, so that you won’t have to use the electricity produced from the utility company’s power plant. The more you pay for your electrical energy, the more you’ll be capable of saving by installing residential solar panels.
RESIDENTIAL SOLAR PANELS- ARE THEY WORTH IT?
The price of installation will differ depending on the solar company you select to install your residential solar panels. Additionally, keep in mind that cheaper is not necessarily better when it comes to solar. By installing higher-quality residential solar panels, you can expect maximum solar panel efficiency in the future.
Also, there are usually solar incentives available, depending on the place you reside. These incentives can save a lot on your solar panel installation and reduce your solar system cost. Just make sure you research how many incentives you’ll be able to receive for your solar panel installation.
HOW DO YOU FINANCE YOUR RESIDENTIAL SOLAR PANEL INSTALLATION?
You can choose whether you want to buy or lease your solar panel system. This decision impacts how much you are going to pay for your solar panel installation. Nevertheless, remember that your overall long-term