One of the most common questions we get from new customers interested in solar power is this:
“How much money can I save on my electricity bill every month by installing solar panels?”
We thought we’d dedicate this week’s post to addressing this question and talking about the value of an Energy Assessment from the professionals at the LeverEdge.
Running the Numbers
A lot of factors go into calculating a reasonable electricity cost savings number. Among these factors include:
- The quantity and size of the solar panels being considered (along with their efficiency ratings)
- The Square footage of available roof or standalone mounting space
- The quantity and efficiency rating of the required inverters
- Line loss depending on the length of cabling and conduits
- The current cost of electricity per kilowatt-hour
- The amount of electricity that is normally consumed on a monthly basis
In order to arrive at a realistic estimate that takes into consideration all of what is listed above, an energy assessment is recommended. This assessment will determine the current state of electrical affairs as they relate to the building in question. After the assessment is conducted—something that takes only a few days at the most—you’ll have an expected average per-month cost savings figure.
This figure can then be used to determine when the anticipated pay-off for the entire system will be. For example, if a $10,000 solar power system saves the consumer $150 per month in energy costs, then it will take approximately 67 months, or just over five years, for the investment to pay for itself.
For Your Energy Assessment, Contact Us
One of the things we love most about working with new customers is telling them how much they could save by going solar. We’d love to show you what options are available for your home or business. Contact us today, and let’s start a conversation that could save you thousands in the long term.
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