Is Installing Solar Panels A Good Investment

Here s how to find out if it s a good investment for you.

Is installing solar panels a good investment.

Compared to a brand new bathroom or a kitchen remodel installing solar panels on your roof is about as thrilling as insulating the attic. To calculate the solar panel roi you can expect you need to get a get a customized quote for your specific installation. The amount of money you save by investing in solar energy varies depending on factors including where you live the incentives available from your state government and the type of system you install. 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.

With a continuously declining trend you can expect the initial investment to be recouped in a less amount of time. How old is your roof. The cost of installing solar panels is falling rapidly. Solar panels have an expected life span of about 25 years.

How are you financing your solar panel system. In many locations solar power is a. Not to mention it is a young technology and has questionable appeal to homeowners. Solar is a good thing but it s complex and people really need to understand what they re getting into explore whether your state offers its own tax incentives.

Determining whether to install a pv solar system may seem like a daunting task but it is important to remember that such a system is a long term investment. Regardless of individual circumstances however the savings are significant.