Six years ago, I installed solar panels in my mountain vacation home. The utility company offered to pay half of the cost, up to a specified amount. There were also state and federal rebates. I called a provider of solar panels and they installed as many panels as I could and within the guidelines for utility rebates. This was 13,000 nameplate Watts. After all rebates, the whole system cost less that $8,000 Each year, the utility company “zeroes out” my account and credits me with the power they have taken from me but have not used. Since I installed the system, my actual electric bill payments have been lower than $200 for six years. My monthly electric bill used to range between $100 and $150. My monthly bill used to be $100-$150. I also switched from propane heat and a gas water heater from electric. Previously, it was $500-$1000 per winter.
Solar panels can be 100% efficient in reducing your power bills if you plan it correctly.