In the United States, the cost of electricity has gone from an average of 12.62¢/kWh, at the start of 2021, to 16.29¢/kWh, at the end of 2023. In 2022, an average American household used 10,791 kWh every year making the average yearly cost of electric for Americans $1,757 per year(All information was gathered from U.S. Energy Information Administration or EIA website). In 25 years, this means most Americans will have spent $67,237.00 on electricity costs(assuming a 2% annual inflation).

To cover their full electric usage, most homes will need an 8 - 11 KW system. It can vary depending on your house(roof pitch, which way they face, tree shading, etc), and how much sunshine the area you live in gets every year. If you pay for the solar system upfront, these system sizes may cost between $19,000 - $22,000, on the low end, and $25,00 - $28,000 on the high end. If you pay for your solar system upfront, it'll take you around 8 years to recoup your investment. There are multiple payment options available for solar, allowing consumers to save money on day one. There a multiple loans readily available and if you choose to lease or sign up under a power purchase agreement(PPA). To learn more about solar payment plans, click here.

Now, if you do some quick math, you can see that for the right houses, solar can save homeowners tens of thousands of dollars throughout the years, even if we take into account the extra costs that'll be involved with the payment plans like loans or leases.