New research confirms solar panels deliver eye-popping savings on your home: ‘Eliminate your electric bill’

While home solar installations are known to provide individual households with greater cost savings and energy independence compared to traditional electricity, a new study has just revealed that their benefits may be more widespread than initially thought.

According to researchers at the University of Texas at Austin, increased adoption of demand-reduction energy systems such as rooftop solar, community solar and battery storage not only saves users money on electricity rates, but also slows the degradation of the electric grid.

The study simulated the consumption of a neighborhood-sized portion of the electrical grid and found that providing traditional electricity would collectively cost $7.2 million per year without energy systems to offset demand and reduce wear and tear, as described by Inside Climate News. With demand reduction tools, the cost was estimated at only $4.2 million per year. Including incentives, the difference in energy costs for taxpayers was approximately 40%.

But households that do switch to demand-reducing energy systems, such as solar energy, can realize even greater individual savings.

The investment in rooftop solar panels will save households an estimated $25,500 to $33,000 in electricity over the life of the panels, according to Forbes. Additionally, households that install solar energy can benefit from a 30% tax credit, thanks to President Biden’s Inflation Reduction Act.

EnergySage can save homeowners hoping to make the switch even more. As an online resource for finding the best deals on clean energy solutions, EnergySage offers customers free resources to quickly get solar installation estimates and compare quotes.

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According to EnergySage senior research analyst Alix Langone, there’s no better time to start saving on electricity costs than now.

“You always save right away, once you eliminate your electric bill,” Langone told homeowners in a livestream on EnergySage’s YouTube channel. “…What you pay for solar will always depend on the cost of local electricity in your area, how much electricity you use in your home each day, the size of your roof and the like.”

In addition to saving on electricity costs, investing in solar energy is also an investment in sustainability, with major environmental benefits.

If you were installing solar panels for your home, which of these factors would be your primary motivation?

Energy independence

Lower energy bills

Helping the planet

There’s no chance I’ll ever go solar

Click on your choice to see the results and give your opinion

Unlike traditional electricity production methods that are powered by dirty energy, solar panels do not produce heat-trapping gases during use, meaning less planet-warming pollution is released into the atmosphere. According to The Renewable Energy Hub, switching to solar energy can reduce a home’s carbon pollution by up to 80% in one year.

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