How Much Money Can You Save With Solar Panels?
If you’re like many of the Alba Energy employees from our Austin office, your recent Summer power bill was easily $250 dollars or more! How does it make you feel when you open up your energy bill each month and give away your hard earned money to the local power utility?
Wouldn’t it be great if instead of stressing out about paying the monthly power bill, you were excited to open each bill to see how LITTLE money you owed? Even better, how would it make you feel if the power company paid YOU for power?
For Alba Energy solar customers across Texas, the pain of opening the power bill each month has disappeared and instead been replaced with excitement. Daniel P. is on track to save more than $52,000 dollars thanks to his solar install in Austin, while Brenda E. will save nearly $100,000 dollars because of her solar install in San Antonio!
To help illustrate just how much money you could be saving with a solar panel installation, we’ve compiled the following solar savings analysis using PVWatts calculations of an average 8.0 kW home solar energy system, and assuming an electricity rate of $0.10/kWh.
According to PVWatts:
- An 8 kW solar panel installation in Austin will produce 11,851 kWh per year
- This equates to $1,238 annual savings based on $0.10/kWh
Now, if we extrapolate that same data, we estimate that
- An 8 kW solar panel installation will produce the equivalent of over $6,000 dollars in savings over the next 5 years!
- And over $12,000 dollars during the next 10 years!
The numbers get better and better over time:
- An 8 kW solar panel installation will provide approximately $31,000 dollars in savings over the next 25 years!
What Would You Do With An Extra $31,000?!
Here Are A Few Things You Could Spend Your Solar Savings On:
- A four-year college degree at the University of Texas at Austin (tuition and fees, plus room and board)
- 15,500 gallons of gasoline (or enough to refill the tank of a 35 MPG car over 400 times assuming $2/gallon)
- 89 round-trip flights from Austin to Las Vegas (assuming $348 per round-trip flight)
- 155 brand new iPhone 6s
- Over 600 tickets to Schlitterbahn Waterpark
- 124 music festival 3-day passes (based on $250 3-day pass to ACL 2015)
- 364 shopping carts full of groceries (assuming $85 for a full load of groceries at HEB)
Take The Power Back!
Hopefully you get our point that you can save a lot of money by going solar! And, if you do it before the end of the year, you can take advantage of generous solar rebates & incentives available in Texas that cover a portion of the cost!