How Much Money Can I Save by Going Solar?

If you are considering solar for your home or office in New Jersey, one of the top questions you’re going to want to know is, how much money can I save by going solar? 

Any solar company or solar installer will tell you that the answer to both questions is an emphatic YES.

Well… that’s because it is. But if it was as easy as me saying that, then I wouldn’t need to write this article. 

So, I am going to cover some of the specifics to help you answer your question in more detail, as well as provide some specifics about savings, all with the aim of helping to be more confident about switching to solar.

Solar Panels Are Everywhere

To start with, let me say that today it’s hard to drive in pretty much any neighborhood now and not see solar panels on a home or many homes. That’s because New Jersey is a perfect state for solar panels. 

But besides the sunshine, New Jersey homeowners and business are switching to solar because it works and it’s saving them money on their electric bill.

My point is, it’s no longer a new and space-age technology but an everyday technology that to date has been adopted by more than two million homes all across America.

How Much Money Can Solar Panels Save Me?

Well, to answer that question you’re going to need your own solar consultation, which we can organize and schedule free of charge.

But to give you an idea, I will give you general U.S. figures and I’ll include several states in this so that you see it’s not just your New Jersey home that has savings potential.

The average U.S. home uses 11,000 kWh (see what is a kilowatt-hour) of energy a year.

If you multiply this by the average rate per KWH, which is 13.01 cents, the average U.S. home spends about $1,430 a year on electricity.

Below you can see the average price for a 6KW solar system, which is what it would take to cover the average home usage across the U.S.

In the last column, you can see a 20-year projection of the savings you would experience. Keep in mind that once your loan is paid off for the solar panels your electricity at that point is completely free.