One of the first questions that comes to mind for someone considering solar is: How much money will I save? While the question at hand might seem one-dimensional, solar savings go far beyond reduced electricity bills. Today, we will be looking at how solar saves in three areas: electricity bills, tax credits, and the environment.
How much do solar panels save on electricity bills?
Much of the initial attraction of going solar is to reduce the cost of monthly electric and utility bills. But how much does solar actually save on these bills? Well, a lot depends on how much photovoltaic (PV) energy your system is producing. The more your system produces, the more you can save. Typically, a residential solar setup produces anywhere from 350-850 kilowatt hours (kWh) per month. The average home uses approximately 909 kWh of energy per month (according to U.S. Energy Information Administrations), so owning solar can save you upwards of 90% on your monthly electric bills.
At Blue Raven Solar, we are committed to helping our customers start saving immediately. We provide multiple ways to finance your new panels. Blue Raven offers customers the Bluepower Plus+ option, which pays for customers’ first 18 months of solar loan payments. During these 18 months, the only cost that customers will have is a small monthly charge of around 10 dollars to have your panels stay connected to the grid. All in all, it is our mission to help our customers save tens of thousands of dollars during their solar journey. Cost of Solar
How much do I save through tax incentives?
By owning your own solar system, you qualify for tax deductions from the government. In 2020, the government lets owners deduct 26% of the cost of installing a rooftop solar-electric generator, including the cost of any necessary remodeling or retrofitting work associated with the solar installation, from your federal income taxes. Thus, if you were to spend $10,000 dollars on your system, you will receive a $2,600 tax credit. As an added bonus, many states allow for households with solar units to qualify for a deduction on their state income taxes as well.
All Blue Raven Solar customers who have a federal tax liability qualify for the U.S. federal solar tax credit. These tax deductions can be daunting and confusing to figure out, so to make things simpler for our customers, we provide a simple step-by-step guide to make receiving these savings easier than ever. Your Solar Tax Credits
How much will my solar panels save the environment?
Another aspect to consider when you decide to go solar is the impact it can make on the environment. In its lifetime, the average residential solar system will offset the energy produced by burning over 80 tons of coal or 175 tons of carbon dioxide. The energy generated is also equivalent to planting 4,000 trees. So yes, solar panels make an impact and help our planet, and you can feel good knowing that you are making a difference.
As part of our mission at Blue Raven Solar, we are committed to providing a world-class solar experience and helping all our customers experience the satisfaction of going green. Along with helping our customers impact the environment, Blue Raven has developed a partnership with GivePower. The Givepower GivePartner foundation builds solar-powered desalination water farms that produce up to 70,000 liters of clean water for communities in areas that do not have access to clean water. With every Blue Raven installation, we give $20 to GivePartner, and that $20 donation provides one person with access to clean drinking water for at least 20 years.
So, what are the actual numbers?
Because there are a variety of factors to determine your savings, it’s hard to know how much money you’ll save exactly. Luckily, here at Blue Raven Solar, we offer a free savings estimate. All you have to do is submit your contact information and answer a few questions about your energy use, and our solar specialists will be able to give you an accurate, zero-commitment savings report. Estimate Savings Report
As you can see, you can access major savings by going solar. Whether it be saving on monthly bills, saving on reduced federal income taxes, or saving the environment, you can start saving with Blue Raven Solar today!