Is It Still Worth Getting Solar Panels

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.

Is it still worth getting solar panels. Start comparing solar quotes on the energysage marketplace to see how much you can save. If your roof is aging or damaged you may be better off replacing it before you install the panels. In this article i ll show you exactly how much you can expect to make and give you real wold examples of installation quotes for both domestic and commercial panels. Panels that are owned add some value to the resale.

One benefit of installing now might be to avoid. With a solar payback period of between 4 10 years this represents a simple investment return of between 10 25. As you can see for most australians they can install solar and have the system pay for itself within 6 years. Inflation at 2 5 and a 5 discount rate.

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. I m sure you are finding that. Here is a more detailed discussion on whether solar panels are worth it. If you submitted an application for the scheme before 31 march 2017 you ll still get paid for generating electricity for the full 20 years.

This is a significantly better return than the long term average returns for both shares or property. But it s not a straight calculation. Solar panels installed now will be eligible for the scheme and consumers can sign up to suppliers as and when they offer tariffs or wait until 2020. Solar is worth it financially.

If a homeowner paid 18 000 for solar those panels don t necessarily add 18 000 to the resale. Depending on the cost of installing solar panels it may no longer be worth it if you re thinking of getting them. How long do you plan to stay in your home. But they are far from a total write off.

Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you. Solar panels have an expected life span of about 25 years. Although some surveys show that solar panels increase the value of a house you won t know until you sell. Installing solar panels is not the easy decision it used to be since the government subsidy has now been cut by 70.

Most property owners can break even on their solar investment in 7 to 8 years.