Is It Worth Having Solar Panels Installed

Find everything you need to know about solar panels and solar installation costs.

Is it worth having solar panels installed.

That means homeowners but not renters can subtract the credit from the federal income taxes they owe in effect reducing the price of their solar purchase by nearly one third. How much does the solar panel system cost. Large unshaded southern facing roofs are the most ideal for solar production. One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system.

Solar is worth it financially as you can see for most australians they can install solar and have the system pay for itself within 6 years. It s true that the price of solar panels are coming down but they re still a pretty big investment for most people. But it s not a straight calculation. On average solar panels raise a home s value by 4 1 across the u s according to a new zillow analysis of homes across the country that s a boost of 9 274 on a 226 300 home according to the study.

This can make the costs add up. If a homeowner paid 18 000 for solar those panels don t necessarily add 18 000 to the resale. Let s imagine you spend 15 000 to install a solar panel system and are eligible for a 26 federal tax credit on that. Generally solar panels create enough energy to power your whole house.

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 place. Depending on the size of your rig you may need a lot of panels to cover your electricity needs. Solar energy is pollution free as it involves no burning which leads to no greenhouse gases to be released into the environment. Installation prices will vary significantly depending on the solar company you choose and the equipment you install.

Panels that are owned add some value to the resale. It s worth taking some time to review all of your equipment options and find the right combination of price and quality for your home. When trying to determine if solar panels are worth it for you consider the size direction pitch and the amount of shading your roof has.