Are Solar Panels Worth the Investment?
- May 2, 2019
- Posted by: Envision
- Category: Solar
Solar power is clean power. Make no mistake, solar-powered solutions help both individuals and corporations lower their carbon footprint and reduce greenhouse gas emissions. In addition, though, residential solar panels can also help homeowners save money in the long run. Not only are solar panels good for the environment, but they can be a wise financial decision as well. Are solar panels worth the investment? The answer to that question depends on a number of factors. We’ll explore them further here:
Are Solar Panels Right for my Home?
Unfortunately, many homeowners could benefit from installing solar panels but choose not to because of a number of myths about solar power. Critics claim that solar panels are prohibitively expensive, that they’re not efficient, and/or that they’re not useful in areas with cooler climates. However, none of those things are true. In reality, solar panels can prove to be a cost-effective investment, they can significantly offset regular power usage, and they function well in all climates –– from New England to the Phoenix and everywhere in between.
Solar Panel Finances
Do solar panels involve an upfront installation cost? If you qualify for our $0 down loan program (most do!), then no. This program allows you to pay for solar panels at your own pace, cheaper than your regular power bills. We would provide installation and monitoring while you get multiple options for loan terms and a competitive interest rate.
If you do decide to pay for your solar panels upfront, know that over time, solar panels will offset their installation cost and deliver tremendous value for homeowners. Most homeowners reach their “break-even” point with solar panels after around eight years of use and end up saving thousands of dollars on utility bills from that point onward. What’s more, the federal government offers a 26% solar tax credit for residents. Plus, many states and municipalities provide further financial incentives for those who invest in solar power.
Bottom line: solar panels are a much more financially viable purchase than many realize.
Debunking Solar Power Myths
As mentioned above, solar panels can be a smart investment even if you don’t live in a state that’s particularly “sunny.” In fact, some states in colder climates have higher electricity costs, which makes solar power even more sensible. (Check out this helpful table to see how much your state charges per Kilowatt-Hour.)
Also, solar panels are a worthwhile investment even if you eventually decide to sell your home. That’s because solar panels can significantly boost the value of your property and make it easier to sell on the market.
Find the Right Equipment
In many instances, the quality of the solar energy system plays a big role in the overall value of the investment. That’s why purchasing the cheapest solar panels available may not be a good idea. Cheap solar panels are much less efficient at capturing and converting energy, which means the benefits they deliver will be substantially less than high-quality panels.
Lastly, partnering with the biggest nationwide solar-panel companies isn’t always a wise decision either. Nationwide solar-energy companies may charge thousands more than local businesses to install and maintain comparable solar-power systems. So it really pays off to compare and contrast solar-power providers in your area.
Are Solar Panels Worth The Investment For Your Home? Contact the Pros
Want to learn more about solar power and see if it’s right for your home? Then contact the pros at Envision! We’ll be happy to complete an energy audit for your property. And since most of our customers qualify for zero upfront costs, you won’t have to worry about making out-of-pocket payments!