Tips for Saving Money to Invest in Going Solar
According to the Solar Energy Industries Association, half a million residential solar panel systems were installed on roofs nationwide last year. This growing popularity of solar has generated new and creative ways to use renewable energy while giving homeowners significant savings. But the growth in the solar industry has also led to a rise in materials and installation costs. At Solar Bear of Tampa, we’ll show you how to estimate the cost of going solar on your home and a few money-saving tips to get you there faster.
Residential solar system installation amounts vary significantly due to variables like local costs, size and scope of the home, and any local incentives that may offset the cost. However, you can expect the average price of a typical installation to be about $20,000. After calculating your system costs, you will be able to discern how long it will take to reach your payback period or the amount of time it takes to earn back an initial investment. During a free estimate with the Solar Bear of Tampa team, we review your anticipated upfront costs along with any financing options and available financial incentives.
If you’re not ready to start today, there are small changes you can make that will not only reduce the amount of energy used but also save for a solar system installation. Did you know that many electric companies offer a free audit? Consisting of a room-by-room survey and electricity bill examination to expose any wasted energy opportunities, this audit offers energy efficiency recommendations you can make immediately. Another quick way to save money is by adjusting your home’s thermostat. According to the Department of Energy, as much as 10% can be saved on your heating and cooling costs by adjusting your thermostat by 7 to 10 degrees for eight hours per day. Another simple fix is to turn down your water heater’s temperature. Lowering the temperature can save hundreds of dollars annually.