Solar Panel Savings Calculator
Estimate your solar panel savings, payback period, and return on investment based on your electricity bill and local sun hours.
Solar Savings Estimate
Solar savings depend on your electricity usage, local sun hours, and system size:
Monthly Production (kWh) = Panel Size (kW) × Peak Sun Hours × 30
Monthly Savings = Monthly Production × Electricity Rate ($/kWh)
Annual Savings = Monthly Savings × 12
Payback Period = System Cost / Annual Savings
Average peak sun hours by region (US):
- Southwest (AZ, NM): 6–7 hours
- Southeast (FL, GA): 5–6 hours
- Midwest (IL, OH): 4–5 hours
- Northeast (NY, MA): 3.5–4.5 hours
- Northwest (WA, OR): 3–4 hours
Average system costs (2024):
- Per watt (before incentives): $2.50–3.50
- 6 kW system: $15,000–21,000
- Federal tax credit (ITC): 30% through 2032