How Much Do Solar Panels Save Study

Residential utility customer is 10 972 kilowatt hours kwh per year or an average of 914 kwh per month.

How much do solar panels save study. How much do solar panels cost. The first step to understanding how much solar can save you is to calculate how much you are currently spending on electricity every year. The average annual electricity consumption for a u s. For folks who like statistics.

Logically it d make sense that the solar home s value would be significantly higher than the home without solar panels. Even if your electricity rates aren t as high as california prices going solar can still save you money. Household is 10 972 kilowatt hours kwh. Multiply that by the national average electricity rate as of june 2020 0 13 per kwh and you ll find that the typical american family has electricity.

But the question is how much more. Simply put the more energy you want to generate the more solar. Solar panels generate free electricity but there are still costs associated with powering your house on solar panels. Not only do you save big on electricity every year you re also reducing your carbon footprint and avoiding the impact of future utility rate increases by producing your own power.

If you live in a state like california where the solar costs are considerably lower than electricity costs you can most definitely save money with solar. For example the average annual electricity use required for a u s. How much money do solar panels save you on electric bills.