Is It Still Worth Getting Solar Panels

Solar power is fed into the home to be used as it is generated so by using solar power you are not buying power from the grid.

Is it still worth getting solar panels.

Panels that are owned add some value to the resale. In this article i ll show you exactly how much you can expect to make and give you real wold examples of installation quotes for both domestic and commercial panels. This is a significantly better return than the long term average returns for both shares or property. As you can see for most australians they can install solar and have the system pay for itself within 6 years.

Solar panels installed now will be eligible for the scheme and consumers can sign up to suppliers as and when they offer tariffs or wait until 2020. Assumed that 50 of solar energy is used by the home self consumption rate panels are tilted to the north at 30 pitch. Installing solar panels is not the easy decision it used to be since the government subsidy has now been cut by 70. I m sure you are finding that.

Although some surveys show that solar panels increase the value of a house you won t know until you sell. How long do you plan to stay in your home. Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you. Here is a more detailed discussion on whether solar panels are worth it.

Solar panels have an expected life span of about 25 years. Inflation at 2 5 and a 5 discount rate. If your roof is aging or damaged you may be better off replacing it before you install the panels. If you don t use the power as it is generated it is fed off to the grid and you will get paid a small amount for this from your energy retailer.

If you submitted an application for the scheme before 31 march 2017 you ll still get paid for generating electricity for the full 20 years. Going solar still a good idea despite new tariff the residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar. With a solar payback period of between 4 10 years this represents a simple investment return of between 10 25. One benefit of installing now might be to avoid.

Most property owners can break even on their solar investment in 7 to 8 years. Solar is worth it financially. But it s not a straight calculation. But they are far from a total write off.

So yes solar power is worth it.