Learn how to save money with home solar panels.

We get asked, “How much do solar panels save?” every day. While yes, you will either greatly reduce or eliminate your electric bill, determining your total solar savings is influenced by several other factors, including how you finance your solar system; whether you take advantage of tax incentives such as the 30 percent federal investment tax credit; how much you currently pay for electricity and whether you plan to sell your home.

In general, the more photovoltaic (PV) solar energy you produce, the less electricity you have to buy from your utility company. That means your solar savings start as soon as your solar system is activated.

The easiest way to estimate your electric bill savings is to enter your home address into our online solar savings calculator. The next step is to call 1-800-SunPower to get some more details. An energy consultant will help you determine whether your average electricity bill is high enough warrant the switch to solar ($75+ a month).  Then, you can begin to find out: is my home is right for solar? For example, can you generate enough solar energy for your family’s needs, do you have excessive shading on your roof and does your local utility have solar-friendly policies?

Answering those questions will help you find out how much solar panels can save each month. Then we’ll set up a free in-person home solar evaluation with a SunPower dealer.

How Much do Solar Panels Save?

Most people going solar want to know how much solar panels can save on electricity bills. But there are other financial benefits that determine how much solar really saves. Solar can help you:

SunPower New Jersey customer Paul Devoy was spending $2,200 a year on electricity. After he went solar he often had just a $2.83 monthly service fee. He points out: What other home investment actually pays you money? A kitchen remodel? No.

“You tell me an investment that you can do that actually is going to pay you money,” Devoy said. “(With a solar system) I can calculate exactly what I’m getting back.”

He’s so satisfied, in fact, that he’s now putting a SunPower system on his new home.

Find Out How Much You Can Save With Solar

Your exact return on investment is also affected by which solar payment option you choose: cash purchase, finance or lease options all have financial benefits and variable timeframes for you to realize your solar panels savings.

But given that you'll be able to either reduce or eliminate your electric bill, lock in your electricity rate, increase your home value, and potentially take advantage of the solar tax credit and/or local solar incentives,1 the return is likely to be in the tens of thousands over the life of your solar system.

SunPower warrants its systems (power production and equipment) with a 25-year Complete Confidence Warranty, and our systems have an expected useful life of 40 years2, so once your system is paid for, you’ll enjoy many years of savings.

Ready to see if solar power saves you money? Enter your address into our solar savings calculator or call us at 1-800-SunPower.

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1Incentives and tax credits subject to change.  SunPower does not warrant, guarantee or otherwise advise its partners or customers about specific tax outcomes. Consult your tax advisor regarding the solar tax credit and how it applies to your specific circumstances. Please visit the dsireusa.org website for detailed solar policy information.

2 SunPower Module 40-year Useful Life. SunPower whitepaper. 2013.