Based on 2017 electric rates supplied by the US Energy Information Administration, a homeowner in the United States with a 6-kilowatt solar system would save $29,424 over a 20-year period. This is based on the average household’s electrical use. If you use more electricity than the average household, you could save even more by going solar and the net savings will depend on the solar system you invest in!
The only way you can lose out on these savings is if you use more power than your system generates or your system breaks and you don’t know about it. People with systems that don’t have a performance guarantee typically don’t find out their system is down until they get their next month’s utility bill. With most companies, you lose out on the energy savings you would have earned while your system was down. But at Brightera, we guarantee you will save money!
How much can you save?
It depends on two main factors, the cost of the solar system and the total sunlight exposure.
The amount of sun exposure you get is the primary factor that determines your savings. People living in places like Arizona and California get the most sun exposure, so their systems will produce the most power. Although, we suggest you do an inspection of your property to find a spot that is exposed to full sunlight between the hours of 9 AM and 3 PM. Remember at Brightera we do free consultation in order to determine where’s the best spot of your house to install solar panels.
System Investment
Currently, the federal government offers a tax credit equal to 26% of the installation cost of your system. The credit is reduced to 22% for systems installed by December of 2021. Then the tax credit expires completely in 2022. However, those incentives vary from state to state. Your best bet is to ask one of our specialists about them, they should be able to advise you on all the incentives you qualify for.