Is Solar Panels A Good Investment

Now for many people their current home is not one they see themselves in in 20 years time.

Is solar panels a good investment.

There are multiple variables to consider when seeking out the best solar panels on the market. It will take trillions of dollars and many years to complete this conversion which makes solar energy a compelling opportunity for long term investors. Now the average solar panel price is as little as 3 20 per watt before claiming any solar incentives. Going back a few years when solar was 5 a watt it made little economic sense to install solar.

Solar is a good thing but it s complex and people really need to understand what they re getting into explore whether your state offers its own tax incentives. How much money you save depends on key factors however. Moreover companies involved in the production of green energy are getting relief from governments such as solar tax credit in the u s. How old is your roof.

Determining whether to install a pv solar system may seem like a daunting task but it is important to remember that such a system is a long term investment. On average homeowners can expect to save around 1 400 a year on their bill after switching to solar. Solar panels have an expected life span of about 25 years. The rapid decline in solar prices within the last 10 years has created the solar boom we know today.

In many locations solar power is a. The rising cost of electricity combined with the declining cost of solar panels and systems the last few years makes investing in solar energy a no brainer for homeowners. However they are definitely a long term investment. Think 10 20 years depending on finances.

So are solar panels a good investment. While certain panels will have higher efficiency ratings than others investing in top of the line solar equipment doesn t always result in higher savings. Incentives such as net metering federal solar tax credit state solar tax credits and utility. Solar panels are attached to the roof of your house so you would need to stay in your current home for a long time to see any decent return.

With the declining initial solar panel installation cost increasing electricity bills and government backed solar incentives solar panel investment is definitely worth considering. Rebates low interest loans and grants may also be available.