Solar panels aren’t only good for the environment, they are good for
your wallet too! Over the lifetime of a solar panel system, customers
can save anywhere from $10,000 to $30,000.
Savings vary based on factors such as location, usage trends, and the solar system you use. The most important savings factor is the price you pay for electricity.
• Solar panels can sometimes cost money upfront, however, in the long term you will save money on electric bills
•The higher the local electricity prices are the higher the potential
solar savings
•The average home can save between $10,00 to $30,00 with solar
power
For many homeowners, solar panels are absolutely a smart financial move. If your roof is in good condition and gets decent sunlight, going solar can mean impressive long-term returns.
Not only will you lower your electric bills and reduce your environmental impact, but you also open up the potential for significant additional savings. Depending on local incentives—like net metering, state rebates, or even federal tax credits—you could see your solar savings grow substantially over the years.
And if your area’s electricity rates are high? You’re in an even better position. Some homeowners have reported saving tens of thousands of dollars (or more!) over the life of their solar system. With little downside and plenty of upside, solar is often seen as a low-risk, high-reward investment for households ready to make the switch.
Yes! How much money you’ll save depends on several factors. The
amount of direct sunlight your system receives, the range, and the angle of your panels all play important roles in your savings. At Rooftop Power we have engineers and highly-trained solar design professionals to ensure your system produces the most it can for your home.
The most important factor in determining savings is the electricity
rates in your area. The more that electricity costs, the more that
you can offset it by producing more energy through your solar panels.
Curious about what solar panels really cost where you live? Getting accurate, up-to-date quotes is easier than you think—and it’s the smartest first step toward lowering your electric bills.
If you’re in Rhode Island, Massachusetts, or Connecticut, your best move is to start with Rooftop Power—New England’s most trusted solar installer. Our local team knows the ins and outs of state incentives, utility programs, and permit processes better than anyone, so your quote will be precise, transparent, and tailored to your home.
No matter where you live, it’s always smart to work with a reputable local installer who understands your region’s utility rates, building codes, and rebate programs. Local knowledge can make a major difference in both your savings and the quality of your installation.
You can also use online estimation tools—many let you enter your zip code for a quick ballpark figure. Then, compare several offers to make sure you’re getting the full picture. Platforms like SolarReviews can help you see multiple installers side-by-side and review customer feedback.
Most top installers, including Rooftop Power, offer free consultations with energy advisors who will walk you through:
Estimated system costs for your home
Available state and federal rebates
Financing and $0 down options
Next steps for moving forward
The return on investment for solar panels is often much higher than what you’d expect from traditional financial options. In fact, according to the U.S. Department of Energy, your potential annual rate of return from going solar can easily outpace returns from many stocks, bonds, or savings accounts—often landing somewhere between 8% and 15%.
To put it in perspective:
If your roof gets plenty of sun and your electricity rates are above average, solar panels often become one of the safest, strongest investments you can make for your home.
When it comes to solar panel savings, where you live can truly make all the difference. One key reason? Electricity rates aren’t set in stone—they swing wildly from state to state. This means the value of your solar system goes up in areas with expensive electricity because every kilowatt-hour you generate is money you’re not handing over to the utility.
Let’s break it down. Homeowners in California, for instance, pay some of the highest electricity rates in the country. So, every bit of energy those rooftop panels produce translates into bigger dollar savings compared to states with cheaper power. On the flip side, if you live somewhere like Washington, where rates are lower, the total savings will still add up—but not as dramatically.
State-by-State Differences
Here’s how this plays out:
No matter where you hang your hat, solar panels offer a way to shield yourself from rising utility bills. But if you’re living in a state where the cost per kilowatt-hour is high, your solar savings could be much greater over the life of your system. Local rates, system size, and how much sunlight your area gets all factor in—but when rates are up, your savings soar.
Let’s talk real numbers—because where you live makes a huge difference in how much you can save with solar.
Over the 25-year lifespan of a typical solar panel system (about the length of your warranty—though panels often last longer), the average U.S. homeowner saves around $50,000 on electric bills. But here in Rhode Island, Massachusetts, and Connecticut, the math works out much better.
Our states may not have Arizona’s desert sunshine, but we make up for it with some of the highest electricity rates in the country—and that’s exactly why going solar here can be a financial game-changer.
Massachusetts – Average lifetime savings often land between $75,000 and $95,000, thanks to steep power rates and strong solar incentives.
Rhode Island – Homeowners regularly save $70,000+ over 25 years, with the added boost of state rebates and net metering programs that credit you for extra power you send to the grid.
Connecticut – CT solar systems can deliver $65,000–$85,000 in lifetime savings, with the potential for even more as utility rates continue to climb.
California: $100,000+ in lifetime savings (high rates + lots of sun)
Arizona, Colorado, Texas: $40,000–$45,000 over 25 years
Florida, Washington: $30,000–$40,000 in lifetime savings
Local electricity rates – Higher rates mean bigger savings on every kilowatt-hour you generate.
State + federal incentives – RI, MA, and CT offer some of the strongest rebate and credit programs in the U.S.
Roof sunlight exposure – Even in the Northeast, modern panels capture power efficiently in a variety of weather conditions.
System size & purchase method – Buying your system outright typically delivers the highest returns, while financing still locks in long-term savings.
Bottom line:
In Rhode Island, Massachusetts, and Connecticut, most homeowners see their solar investment pay for itself in just 6–10 years—and then keep producing decades of clean, free power while utility rates keep climbing.
Ready to see your exact numbers? At Rooftop Power, we can calculate your home’s custom solar savings based on your roof, your electric bill, and your state’s current incentives.
Let’s talk real numbers—because where you live makes a huge difference in how much you can save with solar.
Over the 25-year lifespan of a typical solar panel system (about the length of your warranty—though panels often last longer), the average U.S. homeowner saves around $50,000 on electric bills. But here in Rhode Island, Massachusetts, and Connecticut, the math works out much better.
Our states may not have Arizona’s desert sunshine, but we make up for it with some of the highest electricity rates in the country—and that’s exactly why going solar here can be a financial game-changer.
Massachusetts – Average lifetime savings often land between $75,000 and $95,000, thanks to steep power rates and strong solar incentives.
Rhode Island – Homeowners regularly save $70,000+ over 25 years, with the added boost of state rebates and net metering programs that credit you for extra power you send to the grid.
Connecticut – CT solar systems can deliver $65,000–$85,000 in lifetime savings, with the potential for even more as utility rates continue to climb.
California: $100,000+ in lifetime savings (high rates + lots of sun)
Arizona, Colorado, Texas: $40,000–$45,000 over 25 years
Florida, Washington: $30,000–$40,000 in lifetime savings
Local electricity rates – Higher rates mean bigger savings on every kilowatt-hour you generate.
State + federal incentives – RI, MA, and CT offer some of the strongest rebate and credit programs in the U.S.
Roof sunlight exposure – Even in the Northeast, modern panels capture power efficiently in a variety of weather conditions.
System size & purchase method – Buying your system outright typically delivers the highest returns, while financing still locks in long-term savings.
Bottom line:
In Rhode Island, Massachusetts, and Connecticut, most homeowners see their solar investment pay for itself in just 6–10 years—and then keep producing decades of clean, free power while utility rates keep climbing.
Ready to see your exact numbers? At Rooftop Power, we can calculate your home’s custom solar savings based on your roof, your electric bill, and your state’s current incentives.
Let’s talk real numbers—because where you live makes a huge difference in how much you can save with solar.
Over the 25-year lifespan of a typical solar panel system (about the length of your warranty—though panels often last longer), the average U.S. homeowner saves around $50,000 on electric bills. But here in Rhode Island, Massachusetts, and Connecticut, the math works out much better.
Our states may not have Arizona’s desert sunshine, but we make up for it with some of the highest electricity rates in the country—and that’s exactly why going solar here can be a financial game-changer.
Massachusetts – Average lifetime savings often land between $75,000 and $95,000, thanks to steep power rates and strong solar incentives.
Rhode Island – Homeowners regularly save $70,000+ over 25 years, with the added boost of state rebates and net metering programs that credit you for extra power you send to the grid.
Connecticut – CT solar systems can deliver $65,000–$85,000 in lifetime savings, with the potential for even more as utility rates continue to climb.
California: $100,000+ in lifetime savings (high rates + lots of sun)
Arizona, Colorado, Texas: $40,000–$45,000 over 25 years
Florida, Washington: $30,000–$40,000 in lifetime savings
Local electricity rates – Higher rates mean bigger savings on every kilowatt-hour you generate.
State + federal incentives – RI, MA, and CT offer some of the strongest rebate and credit programs in the U.S.
Roof sunlight exposure – Even in the Northeast, modern panels capture power efficiently in a variety of weather conditions.
System size & purchase method – Buying your system outright typically delivers the highest returns, while financing still locks in long-term savings.
Bottom line:
In Rhode Island, Massachusetts, and Connecticut, most homeowners see their solar investment pay for itself in just 6–10 years—and then keep producing decades of clean, free power while utility rates keep climbing.
Ready to see your exact numbers? At Rooftop Power, we can calculate your home’s custom solar savings based on your roof, your electric bill, and your state’s current incentives.
Will I Still Have An Electric Bill With Solar?
You will still have an electricity bill after installing a solar power
system. However, the bill may not require payment but rather show
how the usage was offset by net metering credits that month.
When you provide more electricity than you use these unused bill
credits roll over into the next month. Solar panels will lower the
monthly electric bill or in some cases eliminate it.
To understand how much solar can save you, it’s important to calculate how much you spend on electricity every year. The average energy use for a U.S household is 10,649 kilowatt-hours (kWh). If you multiply the kWh by the national average electricity rate as of October 2021, $0.1411 per kWh, it comes out to be $1,500 spent yearly on electricity.
The nature of electricity prices need to be considered as well. When
thinking about utility electricity rates it’s important to keep in mind
that we can expect these rates to rise over time. Rates have risen
around 1.3% every year over the past ten years. When you generate
your own solar energy you are locking in your energy costs at a
constant rate.
When you go solar with Rooftop Power, your savings don’t just come from lower electric bills—they also come from powerful federal, state, and local incentives that make switching more affordable than ever.
Right now, the federal solar tax credit lets you deduct 30% of your total system cost from your federal taxes. That’s a huge upfront boost that instantly makes your investment more approachable.
Here in Rhode Island, Massachusetts, and Connecticut, you can stack even more local benefits on top:
State rebates and tax credits to help offset installation costs
Property tax exemptions so your increased home value from solar won’t raise your property taxes
Sales tax exemptions on your solar equipment
Performance-Based Incentives (PBIs) that actually pay you for the clean energy you produce
Net metering programs that credit you when your system generates more power than you use
These programs vary by state and utility, but New England homeowners are in one of the best regions in the country for solar incentives—often reaching their break-even point years faster than in other states.
Not in New England? Wherever you live, it’s worth working with a reputable local installer who knows your state’s programs inside and out. Incentives can change quickly, and having a partner like Rooftop Power means you’ll never leave free money on the table.
Bottom line: With the right incentives, your solar investment can start paying you back from day one—and we’ll make sure you get every dollar you’re entitled to.
How Much Can Solar Panels Reduce Your Carbon Footprint?
Financial returns are a major incentive for leveraging renewable
energy, but money isn’t the only thing that solar saves. Solar improves the environment and reduces greenhouse gas emissions. That’s why the question “How much can solar panels save?” can be answered in two ways: how much money solar power can save and how much CO2 it can save.
A point to think about carbon emissions is that a typical vehicle emits 4.7 metric tons of carbon dioxide every year. This means that a 6 kW (6,000 watts) solar panel system comfortably offsets the emissions produced by one fossil fuel automobile in a year. In addition to significant bill savings, a solar system comes with the satisfaction of “taking a car off the road,” so to speak.
Going solar doesn’t just slash your electric bills—it also unlocks major tax savings. Right now, the federal solar tax credit lets you deduct 30% of your total installation cost from your federal taxes. That’s thousands of dollars back in your pocket, instantly lowering your investment.
And here’s the catch—to claim the credit for this tax year, your solar project must be installed and operational by December 31st. Every week you wait shrinks the window to get on the schedule.
Depending on your state, you could stack even more incentives on top:
State rebates or tax credits to cut your upfront cost
Net metering programs that credit you for extra energy your panels produce
Performance-based incentives that pay you for your solar production over time
When you combine the federal credit with state programs, many homeowners see tens of thousands in savings—but only if they act before the end-of-year deadline.
Bottom line: If you’ve been thinking about solar, the clock is ticking. Lock in your installation now to secure this year’s 30% federal tax credit before it’s gone.
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