How much can you save on energy bills with Solar Panels?
Saving money on energy bills is at the forefront of most people’s minds at the moment, as we continue to face the challenges of the cost of living crisis. More and more people are turning to renewable energy sources like solar panels and battery storage to reduce their carbon footprint and save money on their energy bills.
A common question we get asked is ‘How much can you save on energy bills with Solar Panels?’
The amount of money you can save with solar panels depends on several factors, such as the size of your solar panel system, your electricity usage and the direction your roof faces.
A typical solar panel system can save homeowners up to 50-70% on their energy bills.
One of the key reasons for these savings is that solar panels generate electricity directly from sunlight, which is a free and abundant resource. Once your solar panels are installed, you’ll be generating your own electricity and using less energy from the grid, which can lead to lower bills. In addition to the financial benefits of lower energy bills, solar panels also have environmental benefits. By using renewable energy, you are reducing your carbon footprint and helping to reduce the amount of greenhouse gas emissions that contribute to climate change.
Another important factor to remember is that solar panels are a long-term investment that can pay off in big ways over time. Most solar panels come with warranties of 20-25 years, and many panels can last much longer than that with proper maintenance. This means that once your system is paid off, you’ll be generating your own electricity for free and enjoying significant savings on your energy bills for decades to come.
Battery Storage Systems
Battery storage systems allow you to store excess solar energy generated during the day for use at night. This can help reduce your reliance on the grid and potentially even eliminate your energy bills altogether.
The price of installing battery storage has decreased significantly in recent years, making it much more accessible for homeowners. Although the initial investment can still be a little pricey, the potential long-term savings can be very significant. A study by the National Renewable Energy Laboratory found that adding a battery storage system combined with solar panels can increase energy savings by up to 90%.