How much money do you save if you use solar panels?

Question

How much money do you save if you use solar panels?

Answer 1

Not enough to pay for them unless you get a fat subsidy from the taxpayers.  Solar panel installations run about $10 per watt of maximum capacity.  A panel can produce at most 2 kWh of electricity per watt per year, which in most areas is worth about 25 cents.  You will make more money in a bank savings account.

Answer 2

They will set you back a fair bit for the initial installation, but apparantly they are extremely cheap to run.

Answer 3

If you use enough solar panels you can theoretically power your entire house. So what you would save is what your paying for an electric bill. Now you will have to wait a while to see a saving as the capital costs for solar panels is still high at the moment.

Also another savings is the reduction of your reliance on fossil fuels for electricity. Although you may not see significant financial savings immediately, you will have the satisfaction that the energy your using is renewable and better for the environment.

Hope that helps