There is a common misconception that solar panels are only fantastic for the environment. They are, but they are also fantastic for your wallet! And, we are talking about some serious savings. For instance, an average home in Texas can save anywhere between  $10,000 and $30,000 over the entire lifetime of their solar panel system. 

People avoided them in the past as their installment was way too expensive. That is true; solar panels cost a lot upfront, but, as we have mentioned earlier, they do pay off big time! Thus, consider solar panels – they will save you money and, of course, they will protect the environment. So, if you want to know how much money you can save with solar panels in Texas and what the advantages of solar energy are, keep on reading. 

How Much Money, on Average, Do Solar Panels Save? 

If you think about installing solar panels in Texas, you are probably wondering will they actually save you some money, right? Well, of course. So, let us make it easy on you right away and tell you the answer – Yes, solar panels will save you money! But, how much money will they save you? Well, that answer depends on several factors. For instance, it depends on the number of direct daily sunlight hours, the size of your roof, the angle of your roof, the solar company you chose, and the local electricity rates, among other things. 

If you do install solar panels, you will be able to save money on many things. However, where you will save the most is on your electrical bill. Electrical bills in Texas are high, and solar panels are so appealing because of that reason. In the next chapter, we will explain the process of calculating the savings on the electrical bills using solar panel systems.

How Much Money Do Solar Panels Save on Electrical Bills? 

As we have mentioned earlier, each case is different. But, everything can be calculated. To find out how much money solar panels will save you on your electrical bill, you must first calculate how much you are currently spending on your electricity monthly and then yearly. For instance, an average Texan family household uses around 10,649 kWh annually. When you multiply that number with the national average electricity rate, you will come to the conclusion that that same Texan family spends just under $1,450 a year on electricity alone!

So, the amount of money your solar panels in Texas will save during their lifetime (which is considered to be around 20 years) is $18,142. That is precisely why an increasing number of people moving to Texas, and pretty much anywhere, is looking for a home with an already installed solar panel system. And, if you too want to settle down in your new green home in Texas soon, you will be glad to find out that houses with these features are not hard to find – Texas takes the environment seriously! 

What Happens to Your Electricity Bill? 

When people choose the solar panels that are right for them, they often ask themselves: what happens to my electricity bill? There is a misconception that installing solar panels means the electricity bills will just disappear. But, that is not true. It does not matter whether you have installed enough solar panels to offset your electricity use completely, your electric bill will keep on coming. However, that does not mean that you will still have to pay for something. 

In most states, including Texas, there is a thing called ‘net metering.’ Thanks to this, all the energy your own solar system produces is sent to the grid, and in exchange, you get credits on your electric bill. During the night, when there is no sun, you can draw energy from that same grid. You will not have to pay extra as long as you use less or the same amount of energy you provided to the grid. However, if you draw more power than your solar panels produce, you will have to pay for that difference. 

Solar Panels Save the Environment!

By calling and moving to a state that has developed solar systems everywhere, you will be able to save a lot of money in the long run. However, when you live in a home with a solar system installed or when you install one by yourself, you will be able to save the environment. How? By lowering your carbon footprint! Try to think about the planet. Instead of asking how much money solar panels can save, ask how much Co2 they can prevent. 

Reasons For Investing in Solar Panels 

Until now, we have discussed the two most important reasons for investing in solar panels – reducing the energy bill and reducing greenhouse gas emissions. However, some other reasons make solar panels great. For instance, the price of energy is always on the rise, and thus, the electric bills will only be higher. On the other side, the cost of installing solar panels has improved; that is, the prices have fallen. And, not only that but solar panels are easy to maintain and do not require any additional upkeep. 

If you were wondering how much it costs to install a solar panel system in your home, we are here to answer that question too. On average, this installation costs approximately $13,142. Of course, the price can be lower or higher, depending on various factors. For example, the cost mainly depends on your roof size and the type of solar panels you chose. 

If you want to install this system, you can use the federal tax credit, which is currently 26 percent. It was created to encourage and help people with this investment. However, the federal tax credit will step down to 22 percent during the following year. So, the sooner you decide to install solar panels in Texas, the better. Just keep in mind that this ‘project’ will lower your electricity bill, increase the property value, and save our planet.