In this article, we’re going to talk about a question that many of you may have in mind: How much can I save on my bill if I install solar panels in my home?
At Babio, we’re committed to helping our customers reduce their electricity bills while also contributing to environmental care.
More and more people are interested in this alternative energy source, and for this reason, we want to explain everything they need to know to make an informed decision.
Keep reading to find out how much you can save on your electricity bill after installing solar panels in your home!
What are solar panels and how do they work?
First, let’s briefly review what solar panels are and how they work to generate energy from sunlight.
Solar panels are devices that transform the energy of the sun into electricity, through the photovoltaic effect.
They are composed of photovoltaic cells, which are responsible for capturing solar energy and converting it into direct current electricity.
The basic operation of solar panels is simple.
When the sun’s rays strike the photovoltaic cells, they generate an electric current. This electric current is then sent to an inverter, which transforms it into alternating current, which is what we use in our homes.
The installation of solar panels in a home can be done in several ways, depending on the needs and characteristics of each case.
The most common way is to install solar panels on the roof of the home, as it is a place that usually receives more sunlight.
It is important to have specialized professionals for the installation of solar panels, as it is a delicate process that requires certain technical knowledge for proper installation and operation.
How much can be saved with the installation of solar panels?
Now that we know how solar panels work, it’s important to answer the main question of this article:
How much can I save on my bill by installing solar panels in my home?
The amount of money that can be saved with the installation of solar panels depends on several factors, such as the energy consumption of the home, the current cost of electricity, the geographic location, the size and quantity of panels installed, among others.
At Babio, we save our customers up to 90% annually on their electricity bill. For those customers who hire our panel rental services, we save them an average of 30% on annual electricity costs (this savings already includes the rental fee for the panels).
It’s important to keep in mind that the savings depend on the electricity consumption of each home and the amount of panels installed. Generally, the higher the electricity consumption, the greater the savings that can be achieved with the installation of solar panels.
In addition, solar panels have a lifespan of approximately 25 to 30 years, which means that significant savings can be achieved on the electricity bill during that period of time.
In summary, the installation of solar panels can generate significant savings on the electricity bill.
Would you like to know how much you could save on your electricity bill by installing solar panels in your home?
We have the perfect tool for you!
We invite you to try our online calculator, a tool that will allow you to calculate your solar energy savings instantly, easily and personalized.
In Babio, we use the most advanced technology to determine the amount of sunlight your roof receives and provide you with a personalized, transparent, and profitable proposal for your case.
Simply by filling in a few details, such as your address, electricity bill, and roof specifications, you can immediately obtain:
👉The number of panels required for your solar installation
👉Prices for the different payment options offered
👉In case of rental, we will give you the purchase price in each year of the contract
👉Annual savings you will obtain with us
Other factors that impact savings: Federal tax credit in the US
In addition to the tips we have mentioned for saving on your energy bill, it is important to consider the financial assistance and tax credits offered by government entities.
In the United States, the federal tax credit for solar panel installation is an excellent option for saving money on the purchase of a solar system for your home.
This credit allows residential or commercial property owners to claim 30% of the total cost of installing a photovoltaic solar system, including solar panels, inverters, energy storage systems, and other components necessary for installation.
Additionally, the property owner can claim the credit in the year the solar system is installed or in subsequent years if they cannot use the entire credit in one year.
It is important to note that this tax credit can be used to reduce the tax owed in the corresponding fiscal year. However, sufficient tax owed is necessary to use the entire tax credit.
Although the application process can be complicated and requires a significant amount of paperwork, at Babio, we can help simplify the process and make it easier for our clients.
If you decide to rent panels with Babio, we take care of all the paperwork to obtain the tax credit and deduct it from the monthly rental fee.
Additionally, 18 months after the start of the rental, once the tax credit has been executed by Babio, our clients can exercise (if they choose to) the option to purchase the panels with a 30% discount on the total installation cost.
In all of our rental contracts, we indicate the purchase price of the panels for each year of the rental duration so that our clients always know in advance how much the panels will cost if they decide to buy them at any time.
If you want more information on how we can help you take advantage of the tax credit and save on solar panel installation, don’t hesitate to contact us.
At Babio, we will be happy to help you.
Save up to 90% on your electricity bill with solar panels.
Tired of paying increasingly high electricity bills?
Solar energy could be the solution you need.
At Babio, we offer a cost-effective and personalized solution that can reduce your electricity bill by up to 90%.
Interested in knowing how much you could save?
With our advanced technology, you’ll receive a transparent and profitable proposal for your case, with detailed information about the number of panels needed, annual savings, payment prices, and more.
Calculate your savings in our tool and start saving today!