Is Solar Panel Worth The Investment

Start comparing solar quotes on the energysage marketplace to see how much you can save.

Is solar panel worth the investment. Find your local utility rate. To figure out whether solar panels are worth the investment simply compare the lifetime cost of utility power against the lifetime cost of going solar. Generally solar panels create enough energy to power your whole house. Determine how much you currently pay for utility power.

How do i know if my solar panels are worth it. If you have a standard two sided roof one side will always face one of these directions as shown in this illustration. So how would one know if they re in a good location for solar panels. If you live in an area with high energy rates and a suitable solar rating and can afford the initial investment it s worth installing solar panels in your home while the 26 tax break is in place.

A south facing roof will usually give you greater returns but a south west or even west facing roof could still make solar panels a great investment. Most property owners can break even on their solar investment in 7 to 8 years. Until one becomes a tenant or a homeowner they can t understand how quickly the electric rates are skyrocket. Are solar panels worth the investment the only other significant expense in a household other than food and rent is the power bills.

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. Though a solar panel system is a substantial investment up front over time it can more than pay for itself. Find your average energy usage over 12 months. Over the course of time your investment will be worth it as long as you are in a location that makes sense.

Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you.