Is it good to invest in solar energy? On average, homeowners can expect to save around $1,400 a year on their bill after switching to solar. The rising cost of electricity, combined with the declining cost of solar panels and systems the last few years, makes investing in solar energy a no-brainer for homeowners.
Is it smart to invest in solar panels? Solar panels are increasingly efficient, affordable, and reliable—allowing you to access risk-free solar energy savings and pay off your investment in record time. You’ll also be eligible for tax credits and incentives and, in some cases, can even earn credit from your utility company for the energy you produce.
Is solar energy a good long term investment? The overall value added to the property as a result of installing a solar system is completely exempt of property taxes. Solar panels offer an excellent long-term benefit of providing savings on the cost of utilities. Monthly electricity charges can be reduced by up to 20%.
How much should I invest in solar? With installation, an average residential 5kW size system costs between $3 and $5 per watt, according to the CSE, which results in the $15,000 to $25,000 range. That cost is before any tax credits and incentives. If you know your current energy usage, you can calculate how much you’ll need to pay for solar panels.