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Save Money on Electricity With Solar Panels

July 1, 2008 by Lulu in Daily Links, Save Money with 6 Comments

I mentioned earlier about how I save money on my electricity bill by using solar lamps in my home. I have become fascinated by the power of solar lights and I want to be able to put in solar panels when I have my own house.

I found a story on CNN where a family is now paying about $30 for electricity because they installed solar panels on their home. This family is using their solar panels and clothesline to slash electricity bills and I love it. They also have  a solar oven that they use to cook and claim that it heats food up to 350 degrees, which is enough for the cooking I do anyway.

I must say hats off to this family for reducing their carbon footprint and this is motivating me to look closer at solar options. I would love to have  a solar cellphone charger and battery charger so I can save money on the rest of my usage.

(Remember to enter the drawing for a FREE Gas card from How I Save Money to lower YOUR gas bill in July.)

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  1. passivefamilyincomeJuly 2, 2008 at 6:29 amReply

    LuLu – I saw a show on the weather channel recently about a family who is trying to go carbon neutral as well. They have already been saving a lot of money from their monthly budget and plan to use their savings in 3 years to put solar panels on their house. I found it to be very inspiring. I also like the idea of the clothesline but I just found out that our HOA won’t allow them!

  2. CurtJuly 3, 2008 at 1:43 pmReply

    Sure you can save money with solar panels, but the 10k price tag is still not a good investment. By next summer, I think the investment it going to be worth it – as electric prices are set to double. But, as interest rates increase, borrowing the 10k will add to the cost. So, it may still not be worth it for two years.

    Now would be a good time to invest in companies that product solar panels.

  3. LuLuGalJuly 4, 2008 at 10:37 amReplyAuthor

    Hey Curt,
    I am not ready to get a house yet..but I think that by the time I am ready it will be cheaper than that to put the panels in.

    I am also looking at getting a house to stay in, not sell after 5 years so the panels should pay for themselves. Plus, if you can use cash to pay for the panels then that would be even better.

  4. save and go greenAugust 19, 2008 at 6:51 amReply

    Solar panels are the way to go. Not only do you save tons of money on your energy bill, but you can sometimes make money if you have extra electricity to put back into the grid. You can also get grants from the state and federal governments.

  5. Beautiful American Girls :October 31, 2010 at 2:40 amReply

    to date, solar panels which generate more than 100Watts are still expensive but hopefully they are getting cheaper each day “

  6. Shower RadioNovember 18, 2010 at 4:22 amReply

    i could only wish that solar panels cost only several hundred dollars, i would love to fill my roof with solar panels “-*

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