![]() Get honest, expert, auto repairs and professional service today at DM Auto Services. Is as simple as subtracting the amount you pay for solar from what you would have paid for electricity otherwise.DM Auto Services, Somerville's Best Auto Repair Services Installing solar allows you to reduce or even eliminate your electric bill: when you pay upfront for solar panels, you are effectively paying today for the electricity you’ll use over the next 25 or even 30 years.Ĭalculating your savings from investing in solar Although a $50 or $100 electric bill might not seem like much when you pay it each month, those bills add up quickly over ten, twenty or even thirty years: if you pay $100 per month in electricity now, you’ll pay over $92,000 on electricity over the next thirty years! EXISTING ELECTRIC BILLĪssuming a 5.8% annual increase based on inflation and average annual electric rate increases. Solar panel systems help you save money by reducing your monthly electric bills. How solar helps you save on electric bills Or by reducing the cost of electricity, by installing solar for instance. As a result, there are two ways to reduce your bills: by either While fixed charges will remain the same from month to month, the portion of variable charges on your bill each month will change based on how much electricity you use. ![]() These costs are rolled into both fixed charges (i.e., monthly customer charges) and variable charges (i.e., ¢/kWh that you use). In Somerville, MA, the average monthly electric bill for residential customers is $239/month, which is calculated by multiplying the average monthly consumption by the average electric rate: 780 kWh * 31 ¢/kWh.Įlectric bills are designed to cover all of the costs of producing the electricity that you use, of running and maintaining the electrical grid to help prevent outages, and of any public benefit funds that promote things like renewable energy and energy efficiency. ![]() Monthly electric bills are a product of how much electricity you use per month and your electric rate. Learn more about how to finance your solar panel system. Over your system’s lifetime you’ll save more by financing your solar system with a cash purchase,īut you won’t start saving in year one. $16,100 over five years, $37,500 over 10 years,Īnd $103,400 over 20 years on electric bills in Somerville, MA. ![]() You can expect to save $2,900 in your first year, The savings from offsetting 100% of an electric bill with solar can add up fast!Īssuming an 5.8% annual increase in electricity prices and that you install your system with a $0-down loan, On the EnergySage Marketplace, solar shoppers in Somerville, MA pay an average of $24,000 for a 7.0 kW solar panel system prior to The amount that you can save with solar in Somerville, MA is based on two factors: how much you spend on electricity now and how much of your electric bill you can offset with solar.īased on the intensity and amount of sunlight hours in Somerville, MA, the average electricity customer in Somerville, MA will need a 7.0 kilowatt (kW) solar panel system to offset 100% of their annual electricity consumption of 9,360 kWh per year. Solar saves you money by reducing or eliminating your monthly electric bill. Electric bill savings with solar in Somerville, MA
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