Holly R. asked in EnvironmentGreen Living · 2 months ago

Is solar panel is helpful to reduce electricity bill?

5 Answers

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  • F
    Lv 6
    1 month ago

    Of course they will reduce the amount they use. The question you should be asking is “Are they cost effective?”

    This depends entirely on how much you use and more importantly what subsidies you get from your government. Also to some extent, how much sun you get, although I do appreciate you get something out of them on cloudy days.

    In the UK , I worked out I wouldn’t get pay back much before the useful life of the panels was over. Add to the lack of sunshine in Scotland , I decided it wasn’t worth it. Others here will show it is.

  • Mmm J
    Lv 7
    2 months ago

    Our electricity bill used to be ~$225/month. We put panels on the roof of the house. They are grid tied. We don't have a whole house battery in case of power failure, but I built a couple of solar generators - they use their own set of solar panels - so if the power goes out, we can still run some lights and the refrigerator. The grid-tie system, installed, was about $16,000. The 2 solar generators were about $2,800. Round numbers, total expense was $19,000. This included the various tax rebates so while the real cost was higher, the $19k is after all the tax incentives were applied, so real out-of-pocket expense.

    My last monthly electricity bill was $12 for transport. This has been consistent for the last few months since the panels were installed. Round numbers, we're spending $200 less per month. There are monthly variances based on the seasons and the amount of sunlight hits the panels, but the $200 monthly billing reduction is a easy number to work with.

    $200 saved each month x 12 months = $2,400 per year electricity bill reduction.

    Assuming nothing changes, $19,000 spent / $2,400 monthly savings = system expense payback is about 8 years. But... we know power charges are increasing so payback will be in less time. Also, we'll save even more after we replace our gasoline-based SUV with an electric vehicle, but that is planned for mid-2022 (not to mention no more regular trips to the gas station for gasoline - there may be occasional stops at power stations, most of the power will come from the plug in the garage. I'll probably increase the number of panels on the roof a month or two before the new EV comes home).

    The panels are under warranty for 20 years. So for another 12 years, all that saved money is gravy. Using today's $, that is $2,400 annual savings x 12 years = $28,800.

    Conclusion: Yes, the investment in solar saved/will save our household money. We'll save even more after we get our electric vehicle, but that is planned for mid-2022.

  • 2 months ago

    Very few people put them up in order to INCREASE their expenses. The question is, what is the payback time?

  • 2 months ago

    Of course - if it's utilized properly.

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  • 2 months ago

    It can be.  I save a lot on batteries by having a solar rechargeable flashlight.

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