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Saving Money with Solar Panels

Due to the rising cost of electricity and some possible environmental concerns, many nations are looking into solar energy. They see the renewable and clean energy source as the way to go.

Installing Solar panels has its advantages and disadvantages. For a lot of people, the cost is what determines their choice. Because it depends on whether they can afford it or not, they try to be certain if installing a solar panel system is worth the cost. This post shall be looking at the benefits and the downside of installing solar panels in a residential setting.

 The general cost issue

To determine how much you can save by putting up a solar energy system in your home, you need to review your electricity bill. You can add up how much you spend on electricity bills and do a brief calculation.

Generally, the average electricity usage in a household in the United States is about 11,000 kilowatt-hours (kWH). And the average electricity rate is $0.1308. So it is estimated that a home in the United States spends around $1,430 yearly on electricity. So if you like to switch to solar energy, you should know that most of the cost is usually spent on buying panels and the solar power installation. The cost also depends on the type and size of solar systems you wish to install. If you want to know your true cost of solar power installation, you have to review your electricity bill to know the amount of energy you are using each month. After this, you can consult with a solar representative in your local environment to choose a solar energy system that can produce the amount of energy you need in your home.

What you can gain from switching to solar

Though going solar is expensive upfront, there are several incentives for going solar. The government gives incentives to house owners for going solar. A Residential Federal tax credit is available that will allow you to claim 26% of the installation cost for solar systems that are in service by Dec 2020

Are solar panels worth it?

Advantages

  • Solar energy systems are a renewable source of energy. They are available everywhere in the world.
  • Solar panels reduce electricity costs. Note that the amount that can be saved on electricity depends on your solar energy systems’ size and usage.

Disadvantages

  • Storing solar energy is very costly. You will need to store unused solar energy, so buying big batteries for storing energy is required if you are off-grid. You should know that it is more cost-effective to stay connected to the grid.

Electricity bill and solar energy

Even if you have a functional solar panel system, you will continue to pay electricity bills as long as you are connected to the grid. You need to understand net metering. Net metering in most states in the U.S is a policy that lets you send any unused energy generated by your solar system to the grid. Such energy is exchanged for Credits in your electric bill. If you need solar installation in Adelaide, you may contact us.

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