Are Solar Panels Worth The Investment

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Are solar panels worth the investment.

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. Ironically the investment opportunity wasn t in investing in the manufacturers of solar panels. This caused panel prices to plummet comparatively so while solar panels were worth it for the consumer the manufacturers struggled to make a profit. 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.

Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you. But a south west or even west facing roof could still make solar panels a great investment. Though a solar panel system is a substantial investment up front over time it can more than pay for itself. Most property owners can break even on their solar investment in 7 to 8 years.

If you have a standard two sided roof one side will always face one of these directions as shown in this illustration.