In our experience at Just In Time Roofing & Restoration, many home- and business owners are eager to add solar panels to their buildings because they want to save money on their electric bills. While solar panels can indeed help you lower your energy costs, it’s important not to let yourself get carried away with unrealistic expectations. In this article, we will provide a realistic look at solar savings to give you a better idea of how much you can expect to save.
- Upfront Costs – When we discuss solar savings, it’s important to remember the cost of installing the panels first. The upfront costs of solar installation can vary quite a bit depending on the company you use, the financing program (if any) you choose, and the size of your array. The solar savings your new panels provide will eventually pay for the installation cost, but this process can take a while (typically 6 to 16 years).
- Monthly Bills – It is possible to use solar energy to reduce your monthly energy bills to $0 or close to it, but only if your array is the right size to generate as much power as you need. We partner with a local solar company that can calculate your energy needs and then determine how large your solar array will need to be to cover them. Depending on the size and orientation of your roof, it may not be possible to install an array of the right size to eliminate your energy bills altogether, but you can still significantly reduce them.