Does Solar Save You Money?
Updated: Oct 28, 2022
The first thought that most people have about solar energy is, is it worth it? Their second thought may be, is it expensive and can I afford it?
People think the initial cost of installing solar energy in their home or workplace is a costly task. But it can be a very cost-effective solution in the long run. So the question remains, does it really save me money or is it a waste?
Truth be told, one of the best things about installing solar panels to your home or business is the increased value it brings. Studies show an average increase in resale value between $4,020 and $5,911 for each 1 kilowatt of solar panels installed. At $4,020 per kilowatt, a 5-kilowatt solar panel installation would add an average of $20,100 to the market value of a mid-sized U.S. home. And the fact that you can do it with no money out of pocket is a huge bonus! At Blue Energy Electric we provide a few different payment options, one being the possibility to finance 100% of it.
Factors to Consider
Here at Blue Energy Electric, we advocate the use of solar energy because it is a wonderful way to make your home eco-friendlier and more self-sufficient. What’s more, it is a cost-effective energy solution that saves you both money and energy. With solar, you will be able to lower your energy bills and sometimes you’ll be able to eliminate them altogether! Here is some information on incentives and rebates to get you started.
Incentives and Rebates
Solar tax incentives in Florida are fantastic for anyone installing new solar panels and batteries in 2021. Regardless of how much your solar installation costs, they will save you thousands of dollars. This year, you can save 26% thanks to solar tax incentives in Florida.
Aside from the rebates, many utility companies also offer net metering to solar-powered homes and buildings. They will take the excess electricity that your system generates and pay you for it. This is another way to save money, but you would have to inquire with your local utility if this option is available in your area.
Typical Weather Conditions
Solar energy comes from the sun. Thus, solar panels can generate enough electricity if they get considerable sun exposure. What’s better is even though you may think your solar panel won’t work on a cloudy day, they do! Photovoltaic panels can use direct or indirect sunlight to generate power, though they are most effective in direct sunlight. Here in Florida, we average 237 days a year of sunshine, that averages 30 more days than other states in the U.S.
Key takeaways about solar panel output
Solar panels usually produce between 250 and 400 Watts of power – your actual output will depend on factors like shading, orientation, and sun hours.
With a 30-panel system, you’ll be producing more than enough electricity per year to match all your electricity usage, and maybe more!
You can use our solar calculator to see how many panels your home or business would need.
Roofs that are not obstructed by trees, skylights or taller buildings are good matches for solar. Most Solar (PV) systems use between 20-30 panels and, with each panel taking up 18 square feet, you should ensure that your roof has approximately 400-600 square feet of open space to work with. You also want to make sure your roof is in good condition before installing solar panels. If your roof is over 10 years old, you may want to schedule a roof inspection to see if it’s still in good enough condition to move forward. The last thing you want to do is install solar panels, have a roof issue, and then have to remove the solar panels, fix the roof and then reinstall the solar panels. It’s a costly error that can be avoided before you get started. If you are unsure about the quality of your roof, please let us know as we can help point you in the right direction. We have worked with many reputable contractors throughout our 10 years in business.
Average Energy Consumption
Calculating energy consumption is not an exact science. It all depends on how warm or cool you like your home to be and how much time you spend using devices and watching TV, for example. According to the U.S. Energy Information Administration, the average Florida home used 1,110 kwh per month in 2018. This is almost 100 kwh above the U.S. average. So as you can see the benefits are there! With higher energy needs, homeowners can also consider Enphase energy storage solutions, which allow you to save the energy for when you need it the most.
So given the right circumstances, solar energy can indeed save you a lot of money. If you have any questions, you can always get in touch with us at Blue Energy Electric and we'll be able to help you. We serve clients from Martin, St. Lucie, Indian River and Palm Beach County, and all our consultations are completely free. Contact us today at 772-232-6594