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Cost of Solar Power vs. Standard Electric

According to a recent U.S. Energy Information Administration study, the average homeowner spends $1,400 on energy costs each year. Solar power has become a popular choice for many homeowners to reduce the monthly costs and the environmental waste. You don’t have to be a tree-hugging hippie to want to reduce your carbon footprint or save on energy costs. The only problem with solar panels is they can be expensive. If you are wondering what the cost of solar power vs standard electric is, then this blog post will answer your questions and show you how much money you can save by going green.

Cost of Solar Power

The average cost of solar power is about 10 cents per kWh. This may seem very low compared to the national average electric bill (about 13 cents per kWh, and constantly increasing), but there are several factors that make up this solar power number:

  • Total cost of the solar power system
  • Tax incentives for using solar energy 
  • Amount of energy the system outputs

In addition, solar power offers significant savings in maintenance costs. You could also earn money if you’re producing more energy than you’re using. Many electric companies will pay solar energy users for the power they produce in order to harness it and supply it to the grid.

Cost of Standard Electricity

The average cost of electricity per month varies greatly between the size of the building and the number of people using the electricity:

  • A single family home ranges from $80 to $120, depending on where you live.
  • Small businesses may pay anywhere from $500 to $5,000 per month.
  • Large businesses can pay anywhere between $1,000 and $30,000 per month in electricity costs. 

Standard electricity is also more expensive long-term because it requires consistent maintenance and upgrades to remain functional.

The cost of standard electric doesn’t only come in the form of spending money. Standard electric is bad for the environment. It relies on fossil fuels such as coal and oil to generate electricity. These fossil fuels release harmful chemicals into the atmosphere, ultimately polluting our air. This cost can lead to health issues as well as environmental issues for the planet. 

Solar Power is Better Savings Long Term

Solar power is a better long term investment than standard electricity because it is more cost-effective, environmentally friendly and reliable.

With solar power, you are not required to pay for the infrastructure that connects you to your local grid, like you would with standard electric. Governments are incentivizing the use of solar power by providing large tax credits to help offset the cost of installation. They are also offering to pay citizens for the extra solar energy they produce when it goes to the shared grid. All of this alludes to solar energy as the cheaper option.  

Solar power is also more environmentally friendly, a different and sometimes more important kind of savings. Since solar power relies on the sun, fewer harmful emissions go into the atmosphere when compared to standard electricity.

The good news is that both solar power and traditional electricity are affordable options for homeowners in the United States. When considering the two, you’ll want to think about when you would incur that cost and how important it is to you to protect the environment. Standard electric is typically a smaller one-time startup fee and then a monthly fee, whereas solar power is a larger upfront fee, with longer term savings, and not only monetary savings. 

Solar panels are now more affordable than ever before and can help you save money on your monthly bills, while still providing clean energy for your home. If you’re interested in solar panel installation, contact our team of professionals at Solar Repair.

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