How to Calculate Your Solar Energy Savings
Solar energy is a considerable investment and one that many people are reluctant to take without proof of potential savings. So how do you calculate your possible solar energy return on investment? It comes down to several factors, including house size and location, your monthly electric bill, your roof type and pitch, and the solar battery you purchase.
Your House Size and Location
The size of your home determines the number of solar panels you need to power it. The bigger your home, obviously, the more solar panels you need.
The number of floors in your home also determines the number of solar panels you need. A ranch-style home requires fewer panels, and the panel layout is more simplistic than the layout for a multi-story home.
The cost of solar panels increases sharply when a home has inadequate roof space for the number of solar panels needed.
The home location also influences energy costs since energy prices and solar energy providers vary by location. Fortunately, many homeowners in specified areas can take advantage of state and federal incentive programs for solar panel installation to save money.
Lastly, your home’s location on the land influences solar energy costs and savings. Living on a shaded plot of land decreases solar panel efficiency, and some homes have so much shade that more expensive ground-mounted panels are required.
Your Average Monthly Electric Bill
The amount of electricity that your home uses each month also determines the correct size of solar panels for your needs. The more accurately you can estimate monthly electric usage, the more accurately you can calculate your solar power savings.
Your Roof Type and Pitch
Not all roof types are suited for solar panels; some require modifications before solar panel installation is possible. For example, ethylene-propylene-diene-terpolymer roofs require these costly modifications, whereas asphalt shingle roofs have a much easier and more affordable installation process.
It is not just the type of roof you have on your home that influences solar panel costs, though the pitch of your roof matters too. Homes with a 30- to 45-degree roof tilt offer the most simple and most affordable installation process. Homes that allow for south-facing roof panels also increase solar power savings since they are the most efficient.
Your Solar Battery
There are different solar battery types and sizes available, and the battery you choose affects the final cost of your solar panel installation. A larger solar battery bank stores more solar energy for times of little to no sunlight, whereas an emergency backup battery is smaller and costs less upfront.
How These Factors Affect Your Savings
All of the factors above influence your upfront solar panel installation costs and this cost determines how much money you save after the system pays for itself.
Conclusion
Determining your solar energy savings is wise for anyone contemplating investing in solar panels. With so many determining factors going into calculating your solar power savings, however, the best way to calculate your savings is to use a solar energy calculator.
