Are Solar Panel Worth Getting

Though a solar panel system is a substantial investment up front over time it can more than pay for itself.

Are solar panel worth getting.

Panels that are owned add some value to the resale. Separately zillow released a study in 2019 which concluded that solar panels on average added 4 1 to the value of a home effectively making installing solar panels a worthwhile investment even if you plan on selling your home in the future. Most property owners can break even on their solar investment in 7 to 8 years. One downside of solar panels is that you can only use the energy generated immediately that is when you are at home putting lights on and running appliances.

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. Generally solar panels create enough energy to power your whole house. But it s not a straight calculation. And while the cost of solar panels has dropped more than 70 since 2010 according to the solar energy industries association batteries can cost as much as 10 000 to 15 000 including installation according to solar united neighbors.

If a homeowner paid 18 000 for solar those panels don t necessarily add 18 000 to the resale. 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.