How Do Solar Panels Lower Your Electricity Bill?
If there are two things most homeowners hear about solar panel installation, it’s that solar panels are good for the environment and that solar panels will save you money.
But how does using solar power lead to lower electric bills? With rising energy costs and an expensive winter heating season approaching, today we’re going to break down one of the most fundamental benefits of installing solar panels on your Illinois, Indiana, Kentucky, or Ohio home: the money you’ll save.
Why You’ll Pay Less for Electricity with Solar Panels
Solar panels on your roof generate power by converting solar energy into electricity. You can use that electricity to run your home, replacing the electricity that you would have otherwise drawn from the power grid. By using less utility-supplied power, your monthly electric bills will decrease.
One of the most significant financial benefits of solar panels is how long they last. Every solar panel that Solar Energy Solutions sells comes with a 25-year warranty, and in our service area, the average solar payback period (the amount of time it takes to recoup your upfront costs through monthly energy bill savings) is about midway through the warranty, give or take a few years depending on your energy costs. After you’ve broken even, you’ll continue to benefit from 100% free solar electricity generated by your solar panel system for at least another 10-15 years.
Panels are now projected to last well beyond the warranty, up to 20 years+ , but the level of energy output will no longer be guaranteed.
Just because you have solar panels doesn’t mean you’ll never have to pay an electric bill again. Solar panels will only be able to power your entire home if:
- The solar array you own is large enough to produce as much electricity as your home consumes.
- The sun is shining on your panels (solar panels alone will struggle to generate enough electricity on cloudy days and can’t power your home at night).
When your solar panels are not meeting your energy needs, you’ll be able to draw power from the electric grid, and you’ll be charged for the power you use.
At Solar Energy Solutions, we take the time to review your historical energy use and talk with you about future upgrades that may require an increase in energy usage (like heat pumps or an electric vehicle). We’ll then use that information to design a residential solar panel array that’s large enough to meet your needs.
If you don’t live in an area that has net metering (in which you send excess electricity generated during the day back to the grid in exchange for a credit on your bill), or you’d like to use your solar energy at night, we can also help you select solar battery storage, like Tesla Powerwall. Solar batteries do even more to lower high electric bills and can even power your home during an outage!
Find Out How Much You Could Save with Solar Today
With over 2,500 solar installations under our belt, Solar Energy Solutions is the leading solar contractor in Kentucky, Indiana, Illinois, and Ohio. The SES staff is trained and certified in all facets of solar photovoltaic and solar battery installation, and we can help you discover your solar savings, like the federal investment solar tax credit worth 30%! Request an online solar quote today or call our team to learn more.