Is It Worthwhile Getting Solar Panels

The federal government offers a tax credit of 30 of the cost of a qualifying solar pv installation.

Is it worthwhile getting solar panels.

They make it sound so easy but the truth is whether solar is a smart long term investment for you depends on a few major factors. So yes solar power is worth it. According to chris barnes from consumer group choice the answer is pretty clear. One downside of solar panels is that you can only use the energy generated immediately that is when you are at home putting lights on and running appliances.

Solar panels and the tariffs they earn remain with the house when it is sold. Ok so is getting solar still worth it. However what makes solar panels worth it are the robust federal and state incentives. In almost all cases for almost all homes yes it s still worth it he said.

So before you buy into the hype we recommend you use this simple guide to cut through the sales jargon and determine if solar panels are actually worth the money. If the technology is relatively new and the panels generate substantial savings they could push up the value of your. The government is effectively contributing nearly 1 3 of the price of your going solar. If you don t use the power as it is generated it is fed off to the grid and you will get paid a small amount for this from your energy retailer.

That s a pretty good deal courtesy of uncle sam. That means homeowners but not renters can subtract the credit from the federal income taxes they owe in effect reducing the price of their solar purchase by nearly one third. Solar power is fed into the home to be used as it is generated so by using solar power you are not buying power from the grid.