You’ve seen a few of your neighbors putting up solar panels, but you’re still not sure. Do you want to join the more than 2 million solar installations in the United States?
Using solar energy in your home is a great way to lower your carbon footprint. But, is solar energy cost-effective? Can you afford to install and maintain them?
We put together a quick guide to go over the costs and benefits of installing solar panels. Keep reading to learn why going solar is a bright idea for your home!
Upfront Installation Fees
We’re not going to beat around the bush, it’s not cheap to get a good set of solar panels installed on your home. You should expect to see quotes of at least $15,000 and it could go much higher depending on your needs. Despite the high costs to get started, solar is still the cheapest source of energy in the long term.
Since these heavy and expensive panels go on your roof, you want to make sure the company you choose does the installation well. Poor installation could result in damage to the panels, your roof, or both!
Tax Rebates and Incentives
The government and other agencies who aim to help improve the environment know that the installation fees cause many people to resist switching to solar. So, they run campaigns and offer financial incentives to homeowners to show that solar energy is cost-effective.
Often, homeowners qualify for several kinds of incentives and rebates related to solar panel installation. Experienced solar installers near you can help you maximize those rebates and incentives to help bring down that bottom line installation cost.
Is Solar Energy Cost-effective Long-Term?
So, the million-dollar question is, is solar energy cost-effective for homeowners? The answer is, yes. But, it’ll take a few years to break even.
Getting solar panels installed is a hefty investment when done the right way. But, you can help reduce that price tag with government incentives.
Like many long-term investments, you need to put some skin in the game to reap benefits. In the case of solar, expect to see your break-even period somewhere between 6-9 years.
Expect a Brighter Future With Solar Energy
If you can afford the upfront costs to get your solar panels installed, then the return on your investment is well worth it. You can also feel great knowing that you’re helping to keep the environment healthy for future generations!
Make sure to take advantage of as many rebates and tax incentives as you qualify to help reduce the costs of installing and maintaining your solar panels. If you do this, your bank account will thank you.
We hope you enjoyed reading this article and that you no longer need to ask “is solar energy cost-effective?”. If you’re looking for more helpful articles about finance, technology, and much more, check out the rest of our blog today!