Is It Worth Putting Solar Panels On Your House

Americans are investing in solar power installing enough systems to power 12 3 million homes in 2018 according to the solar energy industries association a trade group.

Is it worth putting solar panels on your house. Solar panels last for a long time at least 20 25 years in most cases so even if you don t have plans to sell in the near future you can still reap their value boosting benefits when you do eventually decide to put your house on the market. How are you financing your solar panel system. You can easily use your solar panels even when its. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value.

Photovoltaic pv solar electric panels on the roof of a home in park ridge illinois u s on tuesday sept. Solar systems are installed with the smarts that tell your appliances to use solar power first before buying energy from the grid. Workers stephen janota left and matt bart install solar service inc. Solar source technician jason breaux is tethered to the roof of a house in dunedin florida during a solar panel installation.

But whether or not those solar panels pay off depends on a lot of factors from the cost of electricity in your area to the shape of your roof. The primary way in which solar can help you tackle your energy costs is by reducing the amount you need to buy from your electricity retailer which typically will cost between 20 40c per kwh. But it s not a straight calculation. Monocrystalline solar panels are the most efficient solar panels you can install on your home.

The typical efficiency of monocrystalline panels from a tier 1 brand is usually between 19 and 22. Chris zuppa the penny hoarder you might think that owning a solar system would ensure 24 7 access to electric power even when the grid goes down from hurricanes or other disasters or accidents. If a homeowner paid 18 000 for solar those panels don t necessarily add 18 000 to the resale. That s not the case.

While solar leases and power purchase. 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. It was once the case that monocrystalline solar panels were significantly more expensive than the less efficient polycrystalline panels. Don t think adding solar panels to your rig means you re stuck to only camping in high sunlight areas.

If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands.