Can solar systems really save money on electricity bills?

In recent years, the world has paid more and more attention to energy conservation and emission reduction, also the promotion of clean energy.

As ordinary families, do we need to rely on our roofs to make energy transition? Let’s take a look at solar power systems!

Do solar panels really save money on electricity bills?

As electricity bills soar, more and more families are beginning to consider installing solar panels on their roofs to generate electricity as a supplement to the electricity in their homes and to resist rising electricity bills.

So, is solar power system really cost-effective?

According to data provided by the Light Force website, taking an average family as an example, the monthly electricity bill is about $201. According to their electricity needs, it is recommended to install 10 solar panels, which is a 5.5kW solar power generation system. The life of battery panels is generally more than 25 years.

According to the current electricity consumption statistics of users who have used solar panels (assuming there is sufficient sunshine here). After installing solar panels, the monthly electricity bill can be reduced by 60-70% under ideal conditions. Taking the life of the solar panel as a cycle, the total electricity bill saved in 25 years is $50,129.

Excluding the cost of installing solar panels, a total of $40,129 can be saved in 25 years without taking into account the continued increase in electricity costs. The cost of installing solar panels can be recovered in about 6-7 years.

From this point of view, installing solar panels is indeed a good way to save electricity bills and be environmentally friendly. The above cost calculation only involves solar panels and does not include batteries and other accessories).

Additionally, if you opt for a hybrid solar system, you can sell the extra electricity back to the local grid for revenue, further accelerating your payback.

The Maxbo New Energy is dedicated on providing high-quality solar products to clients all over the world, also a specialist on offering customized solar solutions for those who prefer to save money on electricity bills by installing a suitable solar energy system.

If you want to customize your own photovoltaic solution today, please contact us.

E-mail: info@maxbo-solar.com
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Published On: October 20th, 2023 / Categories: Design, Technology /

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