“We both have great jobs, but we also have four kids, two dogs, and a cat who keeps eating things he really shouldn’t,” Margaret said. “So yes, we’re always looking for ways to stretch the budget just a little further.” The Massachusetts homeowner has a question. “What I want to know is how much money can a family realistically expect to save by going solar?”
Switching to Solar Saves Families Money
One of the primary reasons homeowners opt to switch to solar energy is that they want to get out from under the big monthly bill from the power company. While there is some variance based on what part of the country you live in, as well as how energy efficient your home is, typically households who switch to solar power see utility bills decrease between $100-$150 each month. In annual terms, that’s $1200 – $1800. These savings will increase in time as utility costs rise.
What Can Your Family Do With an Extra $1200 This Year?
Kids are wonderful, but they’re also expensive. If you’ve been looking for a way to help fund a special family vacation, or if somebody needs braces or is getting very seriously into sports, having extra money in the budget can definitely make life easier. Talking about making life easier, it’s nice to have a little extra cash on hand in case surprise household or vehicle repairs spring up. How much does an emergency vet visit cost? If you’re not sure what to do with the funds, you can funnel them into your investments for the time being – let your money make money for you, instead of enriching the local utility company!
And Money Isn’t Everything
Raising children really make you think about the future. One reason many families switch to solar power is to help fight climate change. While no one household can change the world, increasing numbers of people working together to move away from fossil fuel consumption can and does help the situation.