Main Street Finance

The 5 Best Cities for Solar Panel Savings

By Jeff

Solar energy has steadily grown in popularity in recent years, so it’s no surprise that as of 2016, nine-in-ten U.S. adults said they were in favor of expanding solar power use. But why do so many American individuals support solar energy? Aside from the collective environmental benefits, what do you, personally, have to gain from solar energy? The answer is simple– solar energy puts money back in your pockets.

In a recent study, Greenshine New Energy determined which cities across the U.S. could save the most money by installing solar panels and found that, depending on where you live, investing in solar panels could save you up to about $1500 annually. Here are the 5 best cities for solar panel savings–

New York, NY

With one of America’s highest average monthly household electricity bills, it’s no wonder that New Yorkers stand to gain a lot from solar panel installation. But how much, exactly? Well, If solar panels were installed in NYC homes, the average household would pay only $12.65 for their monthly electric bill, which would amount to an annual savings of $1500. So, if you live in New York City, adding solar panels to your home might just be the perfect way to offset those sky-high living costs.

San Diego, CA

Though San Diego’s average monthly electricity bill is about $50 less than that of New York, San Diego residents should still consider home solar panel installation. The current monthly household electricity bill in San Diego is just under $90, but with the addition of solar panels, this average would drop to $1.14 each month. So, by installing solar panels, San Diego homeowners could save over $1,000 annually.

Riverside, CA

Tucked about 50 miles outside of Los Angeles, Riverside, California is a prime location for solar panel installation. The addition of solar panels to Riverside homes would cut monthly electricity bills from about $88 to only $1.13, saving homeowners a total of $1041 annually. Thus, if you live in Riverside, Solar Panels are a clearly a worthy investment.

San Jose, CA

It may also be time to consider investing in solar panels if you live in San Jose. By installing solar panels, San Jose Residents would save $84.19 on their monthly electricity bill, which would amount to an annual savings of over just over $1000.

San Francisco, CA

Many know San Francisco as the Golden City, but if San Franciscans ever discover just how much money they could save by installing solar panels, it might be re-named Solar Panel City. Solar panel installation would save San Francisco residents about $83 monthly and nearly $1000 each year on their electricity bill. So, if you’re a San Francisco resident thinking of installing home solar panels, what are you waiting for?

Whether you’re a New Yorker or a Californian, home solar panels have the potential to save you as much as a thousand dollars yearly. Think of all you could do with that money– like upgrade to the iPhone X, or sail to the Caribbean, or even drink 235 Starbucks Pumpkin Spice Lattes. Needless to say, If you’ve ever considered investing in home solar panels, now is the time.

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