Why Solar Panels Are A Good Investment

Thanks to substantial electricity bill savings the average american homeowner pays off their solar panel system in seven to eight years and sees an roi of 20 percent or more.

Why solar panels are a good investment.

In essence investing in solar panels is an investment in a clean stable future for yourself your family and all the generations to come. How much does the solar panel system cost. Let s imagine you spend 15 000 to install a solar panel system and are eligible for a 26 federal tax credit on that. In general it is reasonable to assume that solar panels would raise the value of most homes.

In addition to looking at solar as a purchase that has a cost solar panels can also be looked at as an investment. Installation prices will vary significantly depending on the solar company you choose and the equipment you install. The final benefit is the potential effect on a home s value due to the addition of a solar array. Generally solar panels create enough energy to power your whole house.

This is because switching to clean solar energy can generate attractive financial benefits that rival the returns of other places you can put your money like savings accounts money market or bond funds. However solar energy offers several remarkable benefits. Now the average solar panel price is as little as 3 20 per watt before claiming any solar incentives for just solar pv panel pricing even with tariffs you can find pallet pricing on 300 to 330w panels in the 0 85 to 1 00 per watt installation makes the equation from 2 78 to around 3 25 installed without the itc. One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system.

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 panels aren t an expense they re one of the best ways to invest with returns rivaling those of more traditional investments like stocks and bonds. Solar panels use the clean abundant energy of the sun to produce power and by investing in solar panels you can dramatically lower the carbon footprint of your home. It s worth taking some time to review all of your equipment options and find the right combination of price and quality for your home.

While it can support the latter claim the rules for breaking a lease are mostly draconian and leaves you with additional costs when you sell buy the home or replace the underlying roof. Are solar panels a good investment. While cheap solar panels might feel like the easiest way to save some cash your total 20 year savings will often be higher if you invest in high quality equipment.