Is Solar Panels Good Investment

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

Is solar panels good investment.

According to the international energy agency global renewable energy capacity is on track to expand by 1 200 gigawatts gw from 2019 to 2024 with solar powering 60 of that. How old is your roof. Rebates low interest loans and grants may also be available. So before you buy into the hype we recommend you use this simple guide to cut through the sales jargon and determine if solar panels are actually worth the money.

Solar is a good thing but it s complex and people really need to understand what they re getting into explore whether your state offers its own tax incentives. Determining whether to install a pv solar system may seem like a daunting task but it is important to remember that such a system is a long term investment. Not only do you earn a considerable return on your investment after a few years but you also contribute towards the betterment of the environment and demonstrate. Plus the fact that solar panels can be installed on your own home can lead to a certain degree of energy self reliance in the population.

The amount of money you save by investing in solar energy varies depending on factors including where you live the incentives available from your state government and the type of system you install. In many locations solar power is a. Generally solar panels create enough energy to power your whole house. This is because you can get paid for the electricity that your solar photovoltaic pv panels produce.

Solar panels have an expected life span of about 25 years. Solar panels are often marketed as a way for you to make money as well as to save on your electricity bills and reduce your carbon footprint. Solar stocks as represented by the invesco solar etf have dramatically outperformed the broader market over the past year tan has provided a total return of 77 3 over the last 12 months. They make it sound so easy but the truth is whether solar is a smart long term investment for you depends on a few major factors.

Regardless of individual circumstances however the savings are significant. To calculate the solar panel roi you can expect you need to get a get a customized quote for your specific installation.