For most Americans, a homeowner’s largest and most unpredictable expenses are their utility bills. The monthly average electricity bill alone ranges from $76 to $168, depending on where you live.
The good news is that the average American is paying around $115 a month for electricity now. That figure is lower than years past, even with the price of a kilowatt-hour on the rise all over the country.
Why are Americans paying less? The answer is home efficiency and going green.
And one of the easiest ways to get your utility bills under control and take a stand against burning fossil fuels is to embrace solar energy at home. Augmenting your home with a solar panel installation has never been more affordable than right now.
In the following article, we’ll look at why solar power and renewable energy make sense both environmentally and financially.
Who Does Solar Work?
A solar panel works by sunlight striking the panel, agitating electrons and photons. This makes electricity. The electric current then flows to a separate device called an inverter.
This inverter turns the panel’s DC current into usable energy, AC current, for your home.
The AC current then heads to your breaker box and into your home’s power supply. If there’s excess solar power, the unused energy stays in your meter or back-up batteries for consumption. Many states also allow you to act as a mini-solar farm with the power you generate credited against your electricity bill.
Going Green Has Never Been Cheaper
This credit system is called net metering. It is a big reason why many homeowners around the country are turning to renewable energy sources now.
According to Blue Raven Solar, a well-regarded and expert solar installer in Virginia, your electric meter will actually run backward during the day. Then the excess power generated will return to the user at night.
With solar companies offering $0 down financing, the varying size of homes, and the abundance of tax credits out there, it’s hard to pinpoint a generic price for solar panel installation.
However, on average, the cost of installing solar in the U.S. is around $12,000 and can vary anywhere from $5,000 to $40,000, depending on the size and location of your home.
Return on Investment
Your ROI has never been better than right now with solar. With the price of panels and installation on a downward trend due to the product’s popularity —and the expected life-span of new panels reaching 25 years — the saving generated from the panels often pay for themselves within 10 years.
Your average saving will vary depending on where you live due to net metering guidelines and the number of days your home is subjected to intense sunlight. But it is not out of the realm of possibility to see your average electricity bill cut by a whopping 75%.
Reduce Your Carbon Footprint
It does not take a Venn diagram to tell you which fuel source — renewable or fossil-based — you should embrace.
Sunlight is free, plentiful, and clean. Fossil fuels are expensive, limited, and dirty.
And while some politicians have tried to paint green energy as a bogeyman to the American way of life, innovation and saving money are as American as baseball and apple pie.
Climate change is happening if you believe it’s human-made or not.
Go Green Now
Extreme weather events caused by climate change are happening coast to coast. Sadly, right along with them, utility bills are also going up all across this country.
Going green now with solar can not only buffer your budget from these rising costs but help slow the impact of climate change for future generations.
As the saying goes: Every little bit helps.
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