How much do Solar Panels Save across the Country
Most homeowners become interested in solar energy because of the potential savings. Yet many who meet with solar contractors don’t have a good idea of how big those savings can be. Cost savings are one of solar’s most powerful selling points, so it pays for solar contractors to be able to accurately inform their customers about how much money they can keep in their pockets. In this quick guide, we give you the stats you need to know through a simple breakdown of average solar savings, both nationwide and state by state.
National Savings A 5kW (5,000-watt) solar system can save the average American about $16,800 over a span of 25 years. With an 8kW (8,000-watt) system that number rises to $23,450. The average 5kW system costs $11,900 after applying the federal ITC, while an 8kW system costs $17,700. This means that a 5kW system will bring in an average of $4,900 in profits. An 8kW system will earn $5,750. These figures paint a very promising picture for U.S. homeowners as a whole. System Size
Average System Cost
Average 25year Savings
Average 25year Profits
5kW
$11,900
$16,800
$4,900
8kW
$17,700
$23,450
$5,750
State Savings These numbers are already impressive. However, savings can be even more substantial depending on the state. In the breakdowns below, we go over the average savings with a 5kW solar system.
Arizona This sunny state offers homeowners average savings of $90.90 per month and $1,090.83 per year. Total 25-year savings: $27,270.75
California It’s no surprise that the state with the highest savings numbers is also the state where solar is at its strongest. California homeowners can save an average of $126.07 per month, and $1,512.78 per year. Total 25-year savings: $37,819.50
Connecticut Second only to CA, CT’s average savings are $116.74 per month, and $1,400.92 per year. Total 25-year savings: $35,023
Massachusetts MA homeowners save an average of $86.56 per month $1,038.69 per year. Total 25-year savings: $25,967.25
and
New Hampshire Average solar savings run $94.95 per month in NH, amounting to $1,139.46 per year. Total 25-year savings: $28,486.50
New Jersey NJ’s average savings are $91.02 per month and $1,092.26 per year. Total 25-year savings: $27,306.50 These are some of the states with the best solar savings rates, showing that many homeowners can look forward to savings far higher than the national average. A full 50-state list of average monthly and annual savings can be found here.
More Customers, More Savings You can help both homeowners and your solar installation business by bringing in more customers. Grid Freedom can help you accomplish this with our top quality leads for solar contractors. Every lead we offer is pre-qualified by our staff and 100% exclusive. You can sign up for a free membership at www.Gridfreedom.com.
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