According to a Family Budget Calculator, a family of four in California that owns a home will pay a monthly average of $1663 for their mortgage, $830 for food, $1223 for child care, $1159 for transportation, $795 for health care, and $1016 for taxes. Add this all up and we have $7692.
According to ‘Smart Asset’, the average family home in California earns $91,149. Divide this by 12 months, and the average family has $7595 in available funds to cover the above mentioned monthly costs. According to these numbers, this leaves the average home with $97 left over to put in savings.
These numbers reflect a financial crisis in California. Not only is $97 slim pickings when families have a wish list that includes saving money for their kid’s college fund, taking vacations, and enrolling children in activities, but this list didn’t even include the homeowner’s utility bills. And we all know how expensive it is to run the air conditioning for half the year, while also regulating the temperature of the pool. The fact of the matter is that families are suffering and many will never live a better lifestyle if they remain on the same path.
How Buying Solar Panels Can Pad a Homeowner’s Bank Account
The average household spends about $245 a month on air conditioning a 1,200 square foot home every month. Mind you, this does not include other power needs like running your appliances, TV, pool, and lights. With families spending about $2,940 every month on AC, and another $140 for other uses, this expense comes out to be around $3080. Based on the size of your home and the hours spent at home during the work week, these numbers will vary. However, they are fairly accurate. Now add this figure to the average income families are pulling in, and most people are upside down. As a result, piling credit card debt and taking out a second mortgage is to be expected, or one person will get a second job, and that’s no way to live life, especially with kids in the picture.
However, there is a light at the end of the tunnel: more homeowners are buying solar panels as an investment, and to help reduce the financial pain of homeownership. However, in order to really get the best savings, homeowners must work with a solar panel company that knows how to assess your property, analyze your power usage, and based on the type of solar panels you buy, calculate your savings as well as forecast the time it will take to get a return on your investment.
What to Look for in a Solar Panel Investment for Your Home
In order to get the maximum in savings, you need the right equipment with a solid warranty. So look for solar panel companies that offer these things. The best solar panel companies will have panels with cost-saving rebates, and the company should also help you qualify for tax credits to further reduce the cost. As for solar panel warranties, look for one that is 25 years in length that covers the panels, inverter, racking, performance guarantee, workmanship, racking and the roof. A warranty like this will prevent you from hemorrhaging money in the event of something that’s not expected, and working with a reputable solar panel company will ensure you get the best savings possible so that you and your family can live a better lifestyle with greater cash flow.
Call Solar Optimum today and make your dreams happen tomorrow!
