Updated: Apr 8
It's no secret that solar power is getting more and more popular. More people are investing in solar panels, and those who already have them are seeing the benefits of going green.
If you're interested in saving money on your utility bills, then it might be time to invest in a solar system for your home or office.
In this blog post, we'll talk about five ways that switching to solar energy can save you money!
The Solar Panel Protects You From The Rising Cost of Electricity from the Utility Company Year After Year
These days, the cost of living is on the rise. This means that a lot more money has to be spent every month just to keep up with day-to-day life.
For those who are lucky enough not to have other financial obligations or unexpected expenses pop up in their lives, this might not seem like such a big deal; however, many people are struggling to make ends meet and their utility bills for the month can be a huge hit.
This is especially true for the constantly rising electricity bills year after year. If you're like many people, this is a large expense that can't be justified.
You'll be able to avoid the rising cost of electricity in most areas by switching to solar and having predictable monthly electric bills year after year.
Free Power for Your Electric Car With Your Rooftop Solar Cells!
One of the best features of solar is that it's capable of providing you with free power for your electric car. Anyone who has a vehicle knows how costly gas can be and this expense only increases every year.
By converting to solar, you'll never have to worry about filling up at the pump again because your car will run entirely on the solar power you produce.
Solar Energy is Less Expensive than Other Forms of Electricity Generation
Solar is less expensive than other forms of electricity generation; panel efficiency has been improving and the cost of solar panels has been falling steadily.
This is because solar is a scalable technology, so as demand for solar panels increases from customers and installations scale up, the price of each panel falls.
Solar power in North America has been cheaper than grid power since 2009.
For example, on November 27th, 2016 during daylight hours over 20% of production was from solar panels--more than hydro or nuclear sources combined!
Solar power systems are more affordable than ever before, and solar panel prices have fallen by over 50% in just five years.
Solar Panels Pay for Themselves Quickly!
Solar panels can pay for themselves within a few years; the average global system pays back its total cost of solar panels after six to eight years of operating the panels. This is due to the fact that solar panels have 25-year warranties.
The cost of electricity from a residential rooftop solar system (panels) is now just 14 to 20 cents per kilowatt hour in most parts of the US, whereas power companies charge about 12 to 16 cents for each kWh they sell - less if you live in an area with favorable rates and higher where it's not so good.
This means that after only one or two years, the savings you create on energy bills will exceed the upfront solar panel installation costs. In fact, according to some calculations, this break-even point may come as early as three months! The more time goes by, the greater chance we will see solar panels take over as our primary source of renewable energy on this planet.
As long as solar panel technology continues to improve and become more affordable, there is no doubt that many people will continue making the switch to solar power.
Get a free estimate today and see how much you can save by switching to solar panels by contacting our team at IntegrateSun