Solar Panels – Cost and Savings

Many people postpone shifting their primary energy source to solar panels due to the high cost of the panels and installation. You have to look at it as an investment. What you will be paying now will give you considerable savings in your utility bills in the long run.

Through the years and with the aggressiveness of many companies to convince people to make the shift, the price of the panels keeps on getting lower. They are also offering many incentives and after-sales support. You have to know that using solar panels gives you federal tax incentives, other tax incentives, and continuous price drops of the tools and equipment used for repair and maintenance.

In 2009, having this kind of set-up installed in residential homes costs around $25,00 to $30,000. In 2016, the price dropped to around $12,500 per home. This is a result of more manufacturers producing panels from all around the globe.

With more incentives and lower electric bills, you are on the winning side no matter where you look at it. It is a good investment overall, but it is a must that you get the services of the right company that will make it easier for you to understand the process. They will also assist in repair and monitoring, which will lower your expenses all the more.

Having solar panels installed has environmental benefits aside from the huge savings you will generate through the years. It can reduce your carbon footprint while allowing you to save hundreds to thousands of dollars in paying your bills. Having the panels installed also increases your property value. This means more than a 100 percent return of investment from the initial cost you’ll spend in the venture. According to the national energy statistics, a residential homeowner typically gets the value of what they have invested at around five years. The value of your property, on the other hand, gets a $20 boost for every utility savings of $1 per year.

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