New 2017 Solar Panel Cost and Savings Estimates

December 14, 2017

One of the most common questions we get from new customers is “How much money can I save every month on my electricity bill by installing solar panels?” Even though this is a great question and it makes good sense to ask, it’s a bit tricky, because there are so many variables that go into calculating a good answer. These variables include the type of solar panel selected for the system, the placement of the panels, the amount of sunlight that the power generation zone receives in a given year, and the existing level of power consumption realized by the home or business.

Even though these variables exist, there are still some estimates that can be considered. Energy Sage, a branch of the US Department of Energy has released some updated savings estimates for some of the sunniest states in the US. In Florida, for example, the average price for a 5-kilowatt solar power system came in at just under $10,000, and because that system can help offset the average cost of electricity in that state (about $.11 per kilowatt hour) significantly over a 20-year period, the overall savings comes in at a whopping $16,182. With the right engineering, installation know-how and high-quality materials, these savings can be extended even further into the future.

You might think that saving money on electricity bills is the only real, tangible benefit to installing a solar power system on your home or business building. Have you also considered that solar power systems help to reduce the carbon footprint of a building? A carbon footprint is generally termed as the amount of carbon emissions that are released into the atmosphere due to grid-sourced electricity consumption. A smaller carbon footprint means less damage done to the environment. In the case of the 5 kilowatt solar power system we used as an example above, the amount of carbon emissions reduced in a given year is almost 5 metric tons! Multiply that by the 20-year savings period, and you’re looking at sparing the environment almost 100 metric tons of carbon emissions. That’s huge!

As you can see, there are cost savings and environmental benefits that are both great reasons to go solar. Urban Solar can help walk you through all of your options, from system design to budgeting, and from commissioning to ongoing maintenance and customer service. We have the knowledge and expertise you need to make your solar project a success. It all starts with a complimentary energy assessment, which we can provide after getting answers to a just a few questions. Head over to the contact page and reach out to our team – we’re looking forward to working with you.