Solar panel installation costs have dropped by more than 70% over the last ten years.
While the price point has improved, it is still a big financial decision to choose to install solar panels.
Read this brief solar panel guide to help you decide the answer to “Is it worth getting solar panels?”.
Get the Most Bang for Your Buck
It always helps to look at ideal conditions to get the most out of any investment. Solar panels are no different and there are a few considerations to look at to see if you are in a good position to capitalize on an investment.
In the most basic terms, solar panels generate power by converting sunlight into electricity. Therefore, the more sunlight that hits your panels, the more energy the panels will generate.
Climate is the most immediate factor for sun exposure. More temperate places with consistent sunny and warm days like California, Arizona, or South Carolina will mean solar panel advantages.
Roof Space and Openness
It’s also important to take into consideration factors such as:
- the direction your house faces
- whether trees block your roof
- keeping it clear of debris.
You still have a great opportunity to generate adequate power if these factors are in your favor, even in less favorable climates.
Compare your current electricity cost to solar panel cost. In areas where electricity costs are high, you may find that the monthly payment on solar panels would be less than what you are paying for electricity.
You can estimate savings with a reputable solar company.
Other Solar Panel Benefits to Consider
There are other benefits to consider that may help you see if solar panels may be worth it to you. Solar panels can add value in multiple ways.
Solar Panel Lifespan and Warranties
The standard lifespan for solar panels is 25-30 years. But keep in mind that only means that your panels will be operating at less than 90%. They will still generate power; they will just have degraded below the industry “standard”.
Each solar company will also have warranties that could potentially cover repairs and maintenance, helping protect your investment.
Increase Property Value
In general, solar panels will increase your property value.
Research your area and ask real estate professionals if houses with solar panels are going for more than houses without. This will help you gauge the potential return on investment for where you live.
Current government incentives are scheduled to be phased out by the end of 2024. But that means that there are still incentives available!
The federal solar incentives aren’t a direct refund, but will potentially lower the taxes you may owe.
Is It Worth Getting Solar Panels?
Is it worth getting solar panels? The short answer is: Yes!
Use the points from this guide to help you ask the right questions to make sure that getting solar panels is right for you and your home. Solar panels can be a great investment!
Check out other articles on our website for information on a variety of topics!