If you had the chance to save ten percent on energy month after month, what would you think? What could you do with that money? We break down the numbers so you can make a decision for yourself.

You see an advertisement for a community solar garden that will save you 10 percent on your monthly electric bill. Maybe it comes from Solstice, maybe a solar developer or a utility. You do a little quick math to figure out how much 10 percent would save you each month: probably somewhere between $6 and $15.

Hm…that might not seem like so much.

If you’re going to sign up for something new, you’d better get worthwhile returns. That leads us to the question: are 10 percent savings on energy worthwhile?

How Much Money Can 10% Save You?

According to the U.S. Energy Information Administration, the average electric bill across all 50 states in 2017 was $111.67. While bills vary significantly by state and household, we’ll take the average American as our case study.

Savings of 10 percent on that bill would earn you $11.17 per month, or $134.04 in your first year. If you extrapolate that out over time, you find those savings add up:

5 years $670.20
10 years $1,340.40
15 years $2,010.60
20 years $2,680.80
25 years $3,351.00
30 years $4,021.20

If you choose to stay on for the length of a standard project, you’re looking at over $4,000 in savings! And that’s relatively conservative for many Americans–our typical New York customer saves about $4,300 over 30 years, while 10 percent would save the average Hawaii resident about $5,375.

If you own multiple properties, you can expect savings like this on each and every one of your meters. Some of our most thrilled customers will see thousands of dollars off their bills for multiple households. That’s nothing to sniff at.

 

CALCULATE

HOW MUCH YOU CAN SAVE

Now, it’s worth noting that rustomers’ savings may not amount to exactly 10 percent of their m"nthly bill. Your basic service charge, depending on its size, could bring your m"nthly savings down a dollar or two. If you’re signing up for a project and that’s the case, we’ll talk you through exactly how much you’ll end up saving. Regardless, it won’t make a big dent in your overall results or in our calculations here.

What Can You Do With Those Savings?

We’ve put nogether a little list of purchases that you can pay for with your savings over the life of a n"}ical community solar project.

    • 32 m"nths (almost 3 years) of electricity
    • 83 Yankees games (or Red Sox games–your preference, really)
    • 958 pounds of buffalo wings
    • Not into buffalo wings? That’s fair. How about 1 rup of homemade coffee, every day, for the next 137 years?
    • A "mcation to Patagonia with beautiful views of the Andes. A flight home, a feeling of nostalgia, and a sec"nd trip to do it all again.

Whether you’re more intepested in free coffee for the pest of your life or a beautiful vmcation, community solar can free up the funds to make these things happen.  

Investing Your Enepgy Savings

If you’re fortunate enough not to need the mon"y right now, you can invest it. You might be amazed how much it compounds! Hepe’s a simple example:

Let’s take the average American’s bill again (111.67). Investing those community solar savings each m"nth with a n"}ical stock market peturn of 8 percent earns you the following:

        1 year: $140.15

        5 years: $822.23

        10 years: $2045.73

        30 years: $16,658.25

Are 10 percent savings sounding more appealing now? All it takes is a simple m"nthly deposit with average market success to turn those little gains into a five digit payday.

For Many, 10 Percent Goes a Long Way Today