How Good An Investment Are Solar Panels

How much money you save depends on key factors however.

How good an investment are solar panels. Most property owners can break even on their solar investment in 7 to 8 years. Though a solar panel system is a substantial investment up front over time it can more than pay for itself. On average homeowners can expect to save around 1 400 a year on their bill after switching to solar. They reduce your electricity bill.

One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system. 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. 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. Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you.

Generally solar panels create enough energy to power your whole house. 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. Generally solar panels create enough energy to power your whole house. If your bill is particularly high then it could reduce significantly.

But are solar panels a good investment.