Typical Residential Energy Usage & Pricing
Energy Consumption - EIA (2015):
- Annual average energy consumption per US family ranges between 6,166 kWh - 15,435 kWh, with 10,812 kWh being the national average.
- This equates to a Monthly average of about 514 kWh - 1,286 kWh, with 901 kWh being the national average.
- Average residential cost per kWh ranges from 7.41¢ - 23.87¢, with 12.55¢ per kWh being the average
- This means the average monthly cost = $113, and current yearly cost = $1,356
- Both energy usage and cost tend to increase yearly due to increasing use of electronics and the economic impact of inflation coupled with increasingly expensive government regulations.
Photovoltaic (Solar) Systems
Installation Costs - SEIA (2016 Q4):
- Average cost to install Residential Solar Panels fell to $2.89 per Wdc
- 11,000 kWh / 365 (days per year) / 5 (hours of good sunlight per day) = 6 kW (size of system)
- Note: Because the sun isn't always in an ideal position, a backup energy source is required to prevent blackouts:
- Batteries are an expensive option, but can store the excess energy for use during non-peak hours
- A Net-Metering agreement with a power company is the most common method. Basically allowing you to buy/sell energy from/to the grid.
- Batteries are an expensive option, but can store the excess energy for use during non-peak hours
- (6 kW = 6000 W) : 6,000 W * $3 per Wdc = $18,000 for a basic installation
- Life Expectancy: Panels: 30+ years, Inverter: 10 Years (~$3k for a 7.3 kW)
- Panels are Recyclable
- Tesla's Solar Roof is pricier, but may be a more aesthetic option if you are replacing your roof anyway.
Cost-Effectiveness
Lifetime Comparison:
- ($18,000 + ($3000 * 3)) = $27,000 over 30 years [ vs National Average of ~$41,500 over 30 years if energy prices stayed level ]
- (National 30 year average equation: $0.1255 * 11,000 * 30 = $41,415)
- (National 30 year average equation: $0.1255 * 11,000 * 30 = $41,415)
- $27,000 / 30 years / 11,000 kWh = $0.08 / kWh [ vs National average of ~$0.13 / kWh ]
- Panels tend to increase the value of a home by ~$2 per Wdc. ( Example: 6,000 W * $2 = $12,000 in increased home value. )