Uncategorized November 11, 2019

Some Key Points for Homeowners Considering Solar Panels

How much homeowners actually see in savings largely depends on where they live. Sunny areas of the U.S. stand to benefit. For example, homeowners in Utah and California tend to gain the most from their solar investment. Utah residents are able to offset 84% of their utility bill with solar power, while California residents offset nearly 75% of their bill.

The following Northeast states found some of the highest offsets to their utility bills: New Hampshire (76%); Vermont (70%); Massachusetts, New York, and Pennsylvania (67%). These Northeast states even beat out sunny Arizona, where owners were able to offset 66% of their average utility bill by using solar power.

Many states pay residents for the solar power they generate at the same rate as what they charge. This approach is called net metering. In states with net metering, residents won’t need to worry as much about timing their usable. The rest of the states use a variety of pricing methods that effectively reduce the payback on solar for their customers.

Homeowners considering solar will want to find out how much their utility will payback to them for the solar power they don’t use that ends up returning into the grid.

Researchers found that most homeowners use less than half of their solar power directly and then feed it back to the grid or invest in battery storage to use it later