How much is saved on the electricity bill with solar panels?
Beyond being a clean and renewable energy, the main reason why people usually install solar panels has to do with savings. And it is that, with the price of electricity so high that we have had in recent years, being able to avoid having to allocate a large part of the income to the electricity bill is a luxury.
But the truth is that savings can only be maximized if the photovoltaic installation is sized correctly. That is why a few days ago we offered you the publication 'How many solar panels do I need? We end all your doubts’. And today we will go one step further offering you in detailHow much can you save on your electricity bill with solar panels?.
Three reasons to put solar panels
Before talking about specific figures, we are going to review the three main reasons for resorting to solar self-consumption. These are:
You will pay less on your electricity bill.
You will reduce your dependence on the large electricity companies and you will also contribute to making Spain less dependent on gas and oil suppliers.
You can contribute to curbing climate change with the production of renewable energy, something increasingly relevant.
Savings of up to 200 euros per month
Ok, now it is clear, solar panels allow you to save on the electricity bill. But… how much exactly? According to a study carried out by the Organization of Consumers and Users (DAD)the savings can be up to 200 euros per month, even more in some cases. To determine this, they took as an example a large single-family house with a need for high power, since it used electrical cooling and heating systems. And the result after installing panels was spectacular: it covered 74% of consumption with its own production.
This, translated into concrete figures, implies that a monthly bill for a house with these characteristics and high electricity consumption would be around 198 euros. And, taking into account the energy produced by the installed panels, the amount to be paid on the electricity bill was reduced to 20 euros. In other words, a saving of almost 200 euros in just one month, which extrapolated to a year could exceed 2,000 euros.
How long does it take to amortize the installation?
Another important aspect to take into account, beyond what can be saved on the electricity bill, is the time it will take to amortize the investment. As a general rule, installing solar panels requires an expense of between 4,000 and 7,000 euros. And the average period to amortize the investment to make the installation is around 8 years.
This, if we take into account that the durability of solar panels is between 25 and 30 years, would leave a period of 17 to 23 years enjoying 100% free electricity. Therefore, if we take into account the savings that can be achieved in the medium and long term, there is no doubt: installing solar panels is the best option to pay less for electricity.
