Is It Worthwhile Getting Solar Panels

Ok so is getting solar still worth it.

Is it worthwhile getting solar panels. According to chris barnes from consumer group choice the answer is pretty clear. 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. Solar panels and the tariffs they earn remain with the house when it is sold. 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.

The federal government offers a tax credit of 30 of the cost of a qualifying solar pv installation. One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system. So yes solar power is worth it. However what makes solar panels worth it are the robust federal and state incentives.

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. 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. 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. With a battery system you can store.

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. That s a reflection of the fact the price of the actual panels has gone down and the capacity of the solar panels has gone up. The government is effectively contributing nearly 1 3 of the price of your going solar.