What Is The Average Electric Bill With Solar Panels
What Is The Average Electric Bill With Solar Panels
There are many advantages to going solar, whether it be switching to environmentally friendly renewable energy, solar tax incentives, or gaining energy independence. Perhaps the most popular benefit that solar energy systems offer is their ability to significantly lower electricity bills. When your home or business receives a solar panel installation, you are able to produce your own energy to power your appliances. This means you require less energy from the power grid, therefore leading to lower monthly electric costs. With inflation and the never-ending rise of electricity rates, this is a good thing all the way around.
How much is the average monthly electricity bill?
In the state of Florida, most homeowners pay an average monthly electric bill of $130 to $150 per month for their electricity. This is the result of electricity rates that are slightly over $11 per kilowatt-hour. Multiply those monthly bills by 12 and you are looking at an annual power bill of $1,500 to $1800. This may sound familiar to you, or the numbers may be a bit different depending on your energy needs. If you have questions, always feel free to call give us a call. We can determine how much electricity your home uses and make sure your utility bills never leave you confused and frustrated again!
How Much Solar Power Do I Need?
Each home and business has different energy requirements based on a few factors. Most people think that the bigger the home, the higher the electric bill will be. While it certainly has the potential to be higher, size does not matter as much as how much the appliances are running throughout the day. Everything from the lights, to curling irons, refrigerators, cell phone chargers, hot tubs, televisions, and more. It’s no wonder dad’s always yell at everyone to turn the lights off! If you’re not conscious about powering off appliances when they are no longer in use, you could be hit with a huge utility bill each month.
Figuring Out Your Home’s Energy Consumption
Estimating your energy usage can help you determine the amount of solar power you will need. You can usually find this information on your monthly bills where it will show the kilowatt-hours used. If not, you can simply take the total cost divided by your state’s electricity rate. Of course, this can all be somewhat confusing to those that are not familiar with this terminology. That’s why it’s always smart to ask your local solar companies about your energy needs and what size solar panel system your home or business will require. Companies like us at South Florida Solar Company will take a look at your electric bill and make sure they get you the right-sized system for your electricity usage.
How many solar panels to power a home?
This answer once again depends on your energy usage. It also depends on the climate of your area and how much power your solar panels can generate. If we were to look at the typical American home, the national average electricity usage is about 11,000 kilowatt-hours annually. In Florida, our annual average usage is a bit higher at around 13,000 kilowatt-hours. In order to supply enough solar energy to meet these needs, a home would need at least a 6 kW system which is usually around 15-25 solar panels, depending on their wattage.
How much do solar panels cost?
To install the 6 kW system as we mentioned above, the average cost is around $12,000 to $17,000 depending on multiple factors. However, the Federal Solar Investment Tax Credit in 2022 is giving back 22% of the cost of your solar installation as a rebate for your federal taxes. Due to this solar tax incentive, you can essentially knock this price off the cost of your solar panel system. Not to mention, you can take the money you save with each electric bill to put towards paying off your installation.
The cost of a monthly electric bill with solar panels
One of the most popular ways that solar panels save money is by lowering your electric bills. As we mentioned earlier in the article, local electric rates continue to increase. For the last 25 years, electricity costs have gone up by about 2% every year. Solar prices stay consistent, and you will never have to pay for the energy produced by your solar panels. Your solar bill while you pay off your system will be persistent and will often be less than what your current monthly energy bill is. This is one of the primary factors that people are wanting to go solar as soon as possible. The longer you wait, the more money you are giving to the utility company that you will never get back. Solar is an investment that has great returns.
Keep in mind that a majority of solar energy systems are tied to the grid. This allows your home or business to pull energy from the utility grid in the event that your electricity use is higher than what your solar panels produce. If you install a solar system that is able to produce enough energy to match our outweigh your electric usage, then you will not have to pay for any energy from the power grid. In this case, you will only be paying for the standard fixed monthly fees charged by your utility company and nothing for electricity! As you can see, it all depends on your electricity needs and the amount of energy your solar panels produce. If your goal is to pay as little as possible on your monthly bill and see the highest solar savings, your local solar companies will be able to assist and guide you to install the perfect system for your needs.
More ways solar panels save money
While you may be worried that solar panels are a large investment, the solar savings that you get in return will far outweigh the money you put into it. Let’s dive into some of the financial incentives that going solar offers and start saving money!
Net metering credits
Solar Tax Credits
The Solar Federal Investment Tax Credit offers a percentage rebate on your taxes based on your solar installation costs, but it’s important that you act quickly on this offer as the percentage is dropping every year. Previously 26% in 2021, this offer is now at 22%. This is still a great deal as it allows you to cut nearly a quarter off of your price of installing solar panels.
Increased property value
Looking to sell your home in the future? The addition of installing a home solar system is now considered one of the best investments you can make. Home’s are estimated to sell for anywhere from $10,000 to even $50,000 and more when it comes with a solar panel system already installed. People love buying a home where they know their energy costs are going to be instantly reduced, especially considering that the average energy consumption for families has increased greatly over the past decade alone.
Will I still receive an electric bill with solar energy?
A majority of solar systems are grid-tied meaning you will receive your monthly utility bill from the electric company. Even if you don’t use any power from the utility company, there will likely be very small service fees to pay in order to stay connected to the grid. In some cases, you will be delighted to receive that negative bill!
Battery storage for your solar panel system
If you are trying to energy bills entirely, you can go off-grid when you install solar with backup power. In order to do achieve this, solar batteries must be added in order to store the surplus power that your solar panels generate. This ensures that when your solar panels produce more energy than what is needed during peak sunlight hours, it is stored for later use when your system is not producing renewable energy. This will keep appliances juiced up all day and night and keep you up and running during power outages and blackouts. Not to mention, this also gives you total energy independence!
Going solar for the environment
With all this talk about energy prices and savings, let’s not forget about the environmental benefits that solar panel systems bring to the table. Going solar can not only lower your electricity bill but also your carbon footprint. The burning of natural gas and coal to produce today’s electricity is one of the leading causes of air pollution and global warming. When these fossil fuels are burned, they release greenhouse gases into the air such as carbon dioxide, which traps heat into the earth causing our planet to constantly heat up. When you install a home solar system or decide to go with green renewable energy for your business, you are doing your part in solving the climate crisis. When you consider today’s electricity needs and global energy use, you can see how imperative it is that we change to an energy that is clean and does not contribute to the climate crisis.
Do solar panels require maintenance
This may surprise you, but a solar system requires very little upkeep. It’s advised to clean them a few times a year in order to remove things such as dust and debris to make sure they will function at their best. Other than that, as long as everything is running smoothly, they only need to be serviced once every few years. The cost to have them maintained is extremely cheap, especially in comparison to how much money you will save on your monthly bill for electricity.
Will a solar installation damage my roof
It is very important to have your solar system installed by trained professionals in order to avoid any damages to your roof. At South Florida Solar Company, we separate ourselves from the competition because we only allow professional roof contractors to install solar panels. We strongly believe that nobody besides a licensed and qualified roofer should be touching your roof. We also offer a 25-year workmanship warranty in order to guarantee that if anything were to go wrong, you are completely covered.
Never pay high electric bills again
Electric rates are constantly on the rise and with inflation, that is surely not going to come to an end anytime soon. Electricity bills have about doubled in the past 25 years, with the monthly bill increasing about 2% every year. When you rely on the utility company, you are at the mercy of their rates. With a proper solar installation, more electricity used doesn’t have to mean more money spent. You will never pay for the renewable energy that your solar panels generate. It doesn’t matter how much energy you require. Whether you use up one-kilowatt hour or one hundred, the electricity produced by your solar panels is always free. Never worry about expensive electricity bills again when you decide to make the switch to sustainable energy.
Choose South Florida Solar Company
When you’re ready to stop overpaying for your electric bill and start saving money while also rescuing our planet, give us a call to set up a free consultation and quote. When you rely on your utility company, you dump thousands of dollars into an electricity bill that will never pay you back anything in return. It’s time to make an investment that will pay you for years and years to come.
