How Solar Panels Can Save You Big Money

 

Solar panels emerged as this modern, green way of utilizing the sun’s energy as a replacement for traditional fossil fuel energy; however, instead of presenting itself as a rather polarizing decision, many homeowners turn to solar panels as a way to save money.

Boston itself is ranked second for most potential savings from solar panels in comparison to America’s largest 50 cities. While going solar could be beneficial for your own pocket, the switch would also reflect highly on the city of Boston as a whole and make a definitive presence as a green city.

 

After estimating how much money could be saved, choosing solar presents as a definite threat to the use of fossil fuels. The average household in Massachusetts pays $100/month for electricity; however, they could save about $1,800/year by purchasing and installing solar panels to their rooftop. This one year deal equates to saving $35,900 over 20 years; that value is hard to say no to. Receiving more accurate and personal data is more accessible than ever, for Google provides a solar savings estimator that is address specific. Find out how much you could save by switching to solar panels by typing in your address here.

 

While many argue the sheer purchase of solar panels proves too expensive to invest in such a switch, the amount of money saved every year quickly adds up in order to pay for itself after only four or five years. Furthermore, resale value of a home with rooftop solar panels bumps up any building for greater long-term value.

 

Making the decision to switch to solar reflects one of many other choices to make when committing to the process. First, owners can choose to buy the solar system upfront. This constitutes owning the panels and their electricity for 20-30+ years. The price tag for this option is anywhere from $18,000 to $25,000 for purchasing and installation. (Don’t worry, there are many ways to finance and reduce the outright cost).

 

Secondly, leasing panels from a solar company is another option. The appealing side to this choice is the lack of an upfront cost and the use of a monthly payment. Choosing this option means signing a long-term contract where the company receives tax credits and ownership of the panels, as well as installs and maintains them; however, you still get to use the electricity the panels produce.

 

Community solar stands as a rather modern choice picked up by many renters and condo owners. This option does not include solar panels on personal homes; instead, users sign a contract to buy electricity generated at local solar farms (that is still cheaper than current electric bills).

While business can become a little sticky and complicated when choosing which route to head down, the payback makes switching worth the while. Solar panels does not only have to be motivated by efforts to save the environment, for switching can cause immediate impacts to your personal way of life.

Photo by Dept of Solar Energy Decathlon under CC BY-ND 2.0

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