Solar energy is the future of electricity. With credits offered for homeowners to switch over to solar, now is the best time to consider transitioning to renewable forms of energy for your home.
If you’re considering transitioning to solar energy, you might be wondering how many solar panels you need for your home. The truth is this answer depends on several factors.
To learn more about why now is the best time to install solar panels, the benefits of switching to solar, and how many solar panels you need for your home, keep reading.
Why Now Is the Time to Invest in Solar Panels
If you’re thinking about going solar, you’re not alone. According to a Pew Research study, nearly half (46%) of all Americans consider using solar panels on their homes as a source of energy. Yet, currently, only six percent of the population in America uses solar panels for energy.
If you’re the one out of two American households looking to make the switch, you may want to make your choice sooner rather than later. Why?
According to the Office of Energy Efficiency & Renewable Energy, solar tax credits are currently set at 26% and are set to decrease to 22% by 2023. Additionally, solar tax credits are currently set to expire in 2024 if not renewed under the current administration.
Therefore, if you’ve been thinking about making the switch, now is the best time for homeowners.
Benefits of Going Solar
Other than the fact that going solar reduces your carbon footprint, which is good for the environment, there are many other reasons why going solar is a great choice for homeowners.
For example, going solar offers a whole host of financial benefits, including:
- Reducing or eliminating your energy bill
- Earning a return on your investment
- Increasing your property value
- Avoiding rising energy costs
Let’s take a closer look at these individual benefits of installing solar panels on your home.
Reduce or Eliminate Your Energy Bill
Energy costs make up a large portion of your home’s annual costs. According to some estimates, heating and cooling make up 40% of your energy budget alone.
Not only that, but American homes are using more energy than in previous years. For example, Americans used 877 more kilowatts per household in 2019 than in the previous year.
By switching over to solar energy, you can eliminate your energy bills for up to 25 years or the lifetime of your panels. Even if you don’t purchase enough panels to eliminate your energy bill, you can still save significantly over the course of 25 years by just owning a few panels.
Earn a Return on Your Investment
Although switching to solar panels is an initial investment, the savings come immediately after installing them. Not only that, but the savings continue for you for a quarter-century.
Consider this. The average American home uses $0.13 per kilowatt-hour. So over the course of the year, based on statistics, solar panels save American homeowners on average $1,390 per year! Consider those savings over 20 years, and you’ve saved on average roughly $28,000.
That’s a great return on investment — especially when you factor in savings from solar tax credits of 26% or even 22%.
For Florida residents, the news gets even better! According to online reports, you can save as much as $35,000 over the course of 20 years. So if you’re thinking about making the switch, we highly recommend ETD Solar Services.
Increase Your Property Value
Another advantage to going solar is that it can increase your property value. According to a Zillow study, installing solar panels can increase your home’s value by as much as 4.1%.
To put that into perspective, for the average home price in 2021 ($269,039), that’s an added value of approximately $10,000. Not bad for a home improvement project that erases your monthly energy bills for 25 years.
Avoid Rising Energy Costs
The cost of electricity rises with the cost of living every year. That means the price you pay for solar panels can save you from 25 years of rising energy costs.
Not only that but with the right amount of solar panels, you can actually get paid back for your solar energy. For any amount of energy you don’t use from your solar panels, you can sell that energy to the grid — essentially getting paid to never use their high-priced electricity again.
How Many Solar Panels Does My Home Need?
The number of solar panels your home needs depends on several factors like:
- Your energy consumption
- The size of your home
Depending on the number of kilowatts your family uses per hour can affect how many solar panels you may need. A solar energy service can give you the best estimate based on your current energy usage.
The size of your home is another way to factor in how many solar panels your home will need. Here is a quick estimate to go by:
- A home that is 1,500 sq. feet would require between 14-17 solar panels
- A home that is 2,000 sq. feet would require between 19-25 solar panels
- A home that is 2,500 sq. feet would require between 24-30 solar panels
- A home that is 3,000 sq. feet would require between 27-38 solar panels
Based on the calculations above, that should give you an average of how many solar panels you may need for your home based on the size and energy consumption you have in your home.
Now that you know how many solar panels your home may need and you understand why now is the best time to install solar panels, we hope you’ll use this information to become future-proof.
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