Solar power is an excellent way to save money when you’re living on a fixed income or low income. Electricity seems to be one of the most expensive utilities out there. One of the ways people are looking to save on their electric bill is through the use of solar power.
Click here to learn more about solar power and how you can start a solar power business of your own. While this may not be your interest, it’s certainly appealing. Solar power can save you an average of $400 per year per kW. That’s excellent, I say!
How much can you save with solar power?
How much you save with solar power truly depends on your usage and what type of solar power system you’ll have installed. If you’re going to try to install your own system, please do your research.
Solar power isn’t for the simple-minded or uneducated to install. Places like Guardian Oufitters do help provide the right clothing options for this task, though. They have many safety type outfits and more for you to choose from that can help you in many areas of life.
As for savings with solar power, as I said earlier the average person saves $400 per year per kW. The basic estimate is that if you pay $600 per quarter in electricity bills then you’ll be saving approximately $300 per quarter. That estimate is based on a 3kW system for solar power.
How long will it take for solar panels to pay for themselves?
The average person understands that solar power is an investment. The upfront costs for your home solar power system will be quite expensive. The key is to run your numbers and figure out if the investment is worth it.
The average solar panel system will take 7 to 70 years to pay for itself. This is based on what type of solar panel system you’re using. Keep in mind that the US has some tax breaks for this investment, so do your research!
You’ll want to evaluate all costs for investment in solar power, including checking out your contract with the current electric company. Some companies have hidden terms in their electricity contract, which sucks since most of us only have one actual electric company provider in our area.
Is Solar worth investment?
I can’t really tell you if solar is worth the investment. This answer relies solely on how you live, how much consumption you have, and what your current energy costs are. I believe my mom got solar power recently and she seems pretty happy with the change.
Solar may be the next generation of electricity, and a way to earn a little income. I’ve heard people making loads of money on selling the energy back to the electric companies, again I have no idea why the electric companies then charge us an arm and a freaking leg, but whatever.
The best way to determine if solar is worth the investment is to:
- Evaluate your current electric usage.
- Compare the various solar panel systems.
- Find one that will make sense for usage and savings.
- Determine a way to pay for the solar panel installation.
- Figure out if this will be a way to earn more income, or if you’re simply using solar panels to save money.
- Discuss all findings with your adult household members.
- Make a commitment one way or the other.
Should I switch to Solar Power?
I wouldn’t choose solar power unless I was in a position where I felt the overall savings made sense for our family budget. This is the time of year when many households, not me, are getting a refund. Perhaps you’ll be interested to learn that solar power may be a good investment for that refund. I don’t know. It’s up to you!
Be sure to check out the best industrial scales for sale if you need to weigh anything during this process.