Solar Power Savings and Cost Estimate For A $1,000 Monthly Bill
This is a solar power cost estimate* for a $1,000 monthly electric bill. A 30kW or 30,000 watt solar panel system could offset most of your energy use. Results will vary based on utility rate, location and installation factors.
Save $368,000 over 25 years
Save $10,800 per year
Save $900 per month
Other benefits of solar power
$40,000 Increased home value PRICELESS clean, healthy living
This is how much money you could save with solar power. The ROI is 20% to 30%. The payback period is 4 to 6 years. The solar panels may work for 35 to 40 years.
Real estate studies show that a Solar Home can increase market value.
The environmental benefits are clear with clean, renewable energy.
ASSUMPTIONS 30kW Solar Panel System
Install 87 to 120 solar panels
Average Cost for 30kW System
$31,500 Self Installed
$52,500 Pro Installed
Electricity Cost before going solar
$410,000 over 25 years
$12,000 per year; $1,000 per month
30kW = 30 kilowatts or 30,000 watts. Generates up to 3,600 kilowatt hours (kWh) per month. Solar Panels require space up to 2,200 square feet.
Total Cost Includes permit, panels, inverter, rooftop mount, installation and warranty, minus a 30% Federal renewable energy tax credit. Average sticker price before tax credits is $45,000 to $75,000. Learn more about solar installation
This is how much you will pay the utility if you don't use solar panels. Remember, utility rates go up 4% on average every year.
*NOTE: These are current solar price cost estimates as of July 2016. Amounts may vary based on your location and installation factors. The 25 year utility cost is based on a national average of $0.30 per kWh and a conservative 2.5% annual electricity price inflation rate. The estimated kWh produced per month is based on NREL PVWatts calculator; assumes 5 sun hours per day, array mounted at 180 degrees South at 20 degree tilt. How much solar power do you need for a $1,000 electric bill?
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