Is Solar Panels Worth The Cost

Researching products cost variances tax incentives and energy savings will take some time and effort but can provide you with the information you need to make an informed and careful decision.

Is solar panels worth the cost.

The average cost to install a system of solar panels is anywhere from 15 000 to 25 000 per the center for sustainable energy. After all is said and done you are the only one who can decide whether the initial solar panel cost will be worth it for your home. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8.

But the true cost of solar panels and whether they ll help you save money depends on a few key factors. The average cost of a solar panel system for a home in may 2020 is 3 18 per watt making an average 7 kw installed residential solar power system 22 260 before the 26 federal solar tax credit and 16 472 once the tax credit is applied. The bigger isn t always better mantra is one of the main reasons we strongly encourage homeowners to consider all of their solar options not just the brands large enough to pay for the most advertising. A recent report by the u s.

The good news is that beyond that initial investment solar panel. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house.