Do Solar Panels Save You Money?

There are numerous articles, blogs, and stories all over the internet that discuss experiences with going solar. Whether you have heard positive or negative things about solar, we are here to provide more insight into why solar energy can benefit you and help reduce your yearly expenses. Electricity prices have gone up by 14.22% since 2022, according to Utility Drive. Saving money is now more critical than ever. Here is a scenario about Adam and his family who believe in solar energy. Adam lives in Connecticut and is paying 200 dollars every month to his utility provider. He reaches out to a solar provider in his area and receives a quote for the design of a system for his home. The design created by the Solar provider will generate either the same or slightly more of the total amount of energy than his home’s current usage. For example, Adam’s home uses 8 thousand kilowatt hours over the course of a year, and his solar system will be designed to offset his home’s usage anywhere between 100 and 110% percent. In doing so, Adam will not have to pay his utility provider any more electricity bills, because his energy usage was covered by his Solar system! Adam’s new form of payment will be a monthly loan of 150 dollars to the financier to cover the total cost of the Solar System, locked in over the course of 25 years. The 3% average in rate hikes that the electricity prices see, won’t apply for Adam and his family! Instead, Adam will save 50 dollars a month (at minimum), over the course of his loan, you do the math! Let’s fast-forward to 2040! Adam’s utility costs would have been $320 a month on average for his home! Luckily, his monthly payment is STILL 150 dollars a month! With 25 years of warranty on his solar system, Adam can sit back and let the panels do the work. That is just one scenario out of thousands of people who are saving like Adam every year. It can seem like converting to solar is a hassle, but in reality, it’s the best thing you could do for your home and your pockets. Here at SunQuest Solar, we want to make the transition for you as smooth as possible while making sure you’re saving on your monthly electricity bills


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