How Much Money Do Solar Panels Really Save?

by Mar 10, 2020Commercial Solar Power, energy, EV Charging Stations, industry news, Uncategorized

In recent years, there has been a lot of hype around solar panels for homes; specifically, how much money they can save homeowners through the years. Though it all sounds nice, how much money does this equate to? And where does this saved money actually stem from? We hope to clarify some of these questions for you today as we talk about the cost effectiveness of residential solar panels. Homeowners all over the Dallas-Fort Worth Metroplex can rely on Kosmos Solar for any residential solar panel needs. Our customizable installations and payment options make us your best choice for solar installations and services.

How Do Solar Panels Save Money?

The most obvious way solar panels can save you money is on your monthly energy bills. Although solar panels do not always completely take over the job of powering a home, they can take on a large percentage. Since solar energy is provided naturally (by the sun), your home will have less reliance on an energy company’s services grids.

Solar panels can also bring money back into your pockets through stored power and feed-in incentives. During peak seasons, your home might produce more energy than you are using in a day and that additional energy can be stored and used for later. In some cases, your over-produced energy can go back into a county’s grid system and you might be eligible for a rebate or an offset of your power bill. Additionally, solar panels can add resale value to your home and qualify you for a substantial federal tax credit.

Approximately How Much Do They Save?

The amount of money solar panels will save you depends on the type of system you have, the size of your home and your local incentives. On average, installing solar panels can cost around $10,000. Over the 25-30 year lifespan of residential solar panels, they can save a household anywhere from $12,000 to $15,000 in energy bills alone. Added benefits like tax breaks and locally distributed rebates can increase the savings. Simply put, they pay themselves off over the years, and then some.

More Than Just Financial

Of course, we cannot talk about solar panels without mentioning their environmental benefits. Using traditional residential energy sources requires the burning of fossil fuels, which release carbon gases into Earth’s atmosphere. The Environmental Protection Agency has stated that even a small residential solar panel system can save two metric tons of carbon emissions per year!

Kosmos Solar: Saving Money for DFW Homes with Solar Energy

It is no secret that solar panels are a wonderful option for homes. Solar panels are able to save you money throughout their lifetime, can qualify your household for tax benefits, increase your home’s resale value and, best of all, reduce your carbon footprint.

If you live in the Dallas-Fort Worth Metroplex and want to know more about solar panels for your residence, visit Kosmos Solar’s website or call us at (817) 409-6812. Kosmos offers award winning solar energy solutions and the very best customer service. We are local and ready to help you harness the power of the sun!