How to Calculate Your Potential Solar Savings
Solar energy is a great way to save money on your electricity bill while also contributing to a cleaner environment. However, before you make the switch to solar, it's important to calculate your potential savings. In this blog post, we'll discuss how to calculate your potential solar savings.
Step 1: Determine your current electricity usage
The first step in calculating your potential solar savings is to determine your current electricity usage. This can be found on your monthly electricity bill. Take note of the number of kilowatt-hours (kWh) you use each month.
Step 2: Calculate your solar needs
The next step is to calculate how much solar energy you'll need to generate to cover your electricity usage. This involves taking into account the amount of sunlight that falls on your roof, the efficiency of your solar panels, and your energy usage patterns.
There are a number of online solar calculators that can help you determine your solar needs. These calculators take into account your location, the size of your roof, the angle and orientation of your roof, and your energy usage patterns.
Step 3: Determine the cost of your solar installation
The cost of a solar installation varies depending on a number of factors, including the size of the system, the quality of the panels, and the complexity of the installation. However, the good news is that the cost of solar installations has been steadily decreasing over the years.
To get an estimate of the cost of your solar installation, you can use online solar calculators or get a quote from a local solar installation company.
Step 4: Calculate your potential solar savings
Once you've determined your current electricity usage, your solar needs, and the cost of your solar installation, you can calculate your potential solar savings.
To do this, subtract the cost of your solar installation from your estimated savings over the lifetime of your solar panels. The lifetime of solar panels is typically 25-30 years. This will give you your net savings.
For example, let's say you currently use 1,000 kWh of electricity per month and your solar needs are 1,200 kWh per month. Your solar installation will cost $20,000. With a solar installation, you could save $100 per month on your electricity bill, or $1,200 per year. Over the lifetime of your solar panels, you could save $36,000. Subtracting the cost of your solar installation ($20,000) from your estimated savings ($36,000) gives you a net savings of $16,000.
Calculating your potential solar savings can seem daunting, but it's actually a fairly straightforward process. By determining your current electricity usage, your solar needs, and the cost of your solar installation, you can get a good idea of how much money you could save over the lifetime of your solar panels. With solar energy, you can save money on your electricity bill while also contributing to a cleaner environment.