Will a solar system save you money?

While you will see immediate savings on your first power bill after installing a solar system, your overall net savings will become apparent after several years of use—after the savings on your power bill have paid for the upfront costs of the panels and installation.

How much energy will a solar project save in Puerto Rico?

As a result, the Coalition led by the Puerto Rico Office of Management and Budget expects that all projects included in this Solar for All program will result in net energy bill savings far exceeding 20%, and averaging at least 35%, with some seeing savings as high as 95%.

What is the $7 billion solar for all program?

Highlights from the $7 billion Solar for All selected applicants Background: The Solar for All program is a monumental $7 billion investment to enable low-income and disadvantaged communities to deploy and benefit from solar energy.

How much does a solar system cost?

Before considering potential long-term savings, the consumer should understand the upfront costs associated with the installation of a solar system. Solar installation prices vary widely; a small system can cost as low as $8,500, while large, high-end installations can run upwards of $30,500.

What is the Puerto Rico solar for all coalition?

The Puerto Rico Solar for All Coalition, led by the Puerto Rico Office of Management and Budget, was created to ensure that low-income and disadvantaged households are able to benefit from the abundant opportunity for solar energy in Puerto Rico.

What is the average payback period for solar panels?

The average payback period for solar panels typically ranges from five to 10 years. However, please note that this can vary based on various factors, including the initial cost of the solar panel system, the amount of sunlight the location receives, local energy prices, available incentives and financing options.