Is Solar Worth It In 2020?

Solar is a no-brainer for some homeowners, but the true savings from solar vary based on the home's orientation and energy use.

1. Review your electricity bill

How much do you pay each month for electricity? Savings from solar are largely dependent on how much you currently spend to purchase energy from your utility.

Utilities charge homeowners based on the kilowatt-hours (kWh) of electricity consumed by the household each month. Electricity prices can range from 8-20 cents depending on the area, with the national average around 13 cents per kWh according to the U.S. Energy Information Administration.

Users with high utility rates save the most with solar because the energy generated by the solar panels eliminates the need for high priced bills from the utility. The higher your electric bills, the higher your potential for savings with solar.

2. Evaluate your sun exposure

Solar production depends on the amount of sunlight that hits your panels throughout the year. More sunlight = more energy production from each solar panel.