How Much Money Do Solar Panels Save You

The estimate also considers the average sunshine available in the country and the average electricity price of 13 34 cents per kilowatt hour reported by the energy information. For example the average annual electricity use required for a u s. Even if your electricity rates aren t as high as california prices going solar can still save you money.

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The average annual electricity consumption for a u s.

How much money do solar panels save you.

For folks who like statistics. How much do solar panels save the average home. On average solar panels will save you over 1 100 per year on your electricity bills. Residential utility customer is 10 972 kilowatt hours kwh per year or an average of 914 kwh per month.

There are two types of savings you ll find with solar. This is assuming a system size of 6 kilowatts which is common in the us. 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. How much money do solar panels save you on electric bills.

The first step to understanding how much solar can save you is to calculate how much you are currently spending on electricity every year. 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.

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