OK, it’s true, How Much Are Solar Panels? can be a useful question. But, really, this question is largely of minimal importance today. Either through $0 down loans or 3rd-party-ownership models that let you lease a solar power system instead of buying one, most residents and businesses with a decent roof or ground space for solar panels should have an opportunity to go solar without buying the entire solar panel systems up front.
The real questions — the real ways in which going solar affects your finances — is in how much it saves you and how soon or when it starts to save you money.
I recently created the short infographic below to highlight the 20-year savings from going solar in some of the most populous states in the country, as well as in Hawaii, which has the greatest average savings per project.
Notably, those savings are based on 2011 research. The cost of solar has dropped tremendously since then, so the savings should be even greater (on average). Unfortunately, I haven’t seen more recent research on this matter. The specific data points — average 20-year savings from going solar — for those states are as follows:
- California: $34,260
- New York: $31,166
- Florida: $33,284
- Texas: $20,960
- Hawaii: $64,769
These numbers were included in a cool solar power infographic I shared last week. However, the map displaying these numbers was number 3 of 4. I’ve gone ahead and pulled out this key map and will insert it below so that you can see savings in your specific state if you don’t live in one of the four most populous states or Hawaii.
These savings are tremendous. Even the national average (again, in 2011, when solar panels were much more expensive) is above $20,000! How much are solar panels… going to save me? That’s the question to ask. (Of course, you can request a quote on Cost of Solar to get a savings estimate and even a follow-up site visit for a more exact estimate, and it will also give you an estimate of how much solar panels for your house or business will cost.)