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.

How old is your roof. The rapid decline in solar prices within the last 10 years has created the solar boom we know today. Going back a few years when solar was 5 a watt it made little economic sense to install solar. How much money you save depends on key factors however.

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. 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. On average homeowners can expect to save around 1 400 a year on their bill after switching to solar. For instance investing in the solar power sector is a great idea to multiply your money without any serious risk.

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. Though a solar panel system is a substantial investment up front over time it can more than pay for itself. It will take trillions of dollars and many years to complete this conversion which makes solar energy a compelling opportunity for long term investors. With the declining initial solar panel installation cost increasing electricity bills and government backed solar incentives solar panel investment is definitely worth considering.

So are solar panels a good investment. Moreover companies involved in the production of green energy are getting relief from governments such as solar tax credit in the u s. Rebates low interest loans and grants may also be available. Generally solar panels create enough energy to power your whole house.

Incentives such as net metering federal solar tax credit state solar tax credits and utility. 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. 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. Now the average solar panel price is as little as 3 20 per watt before claiming any solar incentives.

Think 10 20 years depending on finances. Solar panels have an expected life span of about 25 years.