Determining the Actual Cost of Residential Solar Panels
When it comes to solar energy, there’s a ton of benefits, but there is also a tradeoff to consider. Essentially, you pay a bunch of money for a solar system now, but what you’re buying is a chance to save on your electricity bills for as long as your system lasts. So when does it all become worth the investment? At the end of the day, what is the real value of solar energy?
To answer that question, you first need to know how much your solar panel system will cost. Unfortunately, there is not one single answer to this question. If you have a larger house, then of course, you will need more solar panels. You may also choose to have fewer panels, knowing that you will absorb less energy. However, most solar arrays cost between 10,000 and 50,000 dollars, with the average falling between about 17,000 and 20,000.
Now that’s not the end of the story. You get federal tax credits for going solar, and there may be state incentives as well. All the credits and rebates could drop your system’s cost down to as little as 5,000 to 12,000 dollars. Read on to learn more about how to determine the real value of your solar system, before you make the investment.