Is Solar Panel Worth The Investment

Find your average energy usage over 12 months.

Is solar panel worth the investment. 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. Find your local utility rate. Though a solar panel system is a substantial investment up front over time it can more than pay for itself. 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.

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. One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system. If you have a standard two sided roof one side will always face one of these directions as shown in this illustration. Start comparing solar quotes on the energysage marketplace to see how much you can save.

Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you. Over the course of time your investment will be worth it as long as you are in a location that makes sense. Why wouldn t solar panels be worth the investment. Most property owners can break even on their solar investment in 7 to 8 years.

Determine how much you currently pay for utility power. How do i know if my solar panels are worth it. 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.

Some homes and locations do not receive enough sun to make the investment of purchasing panels worth it.