Do Solar Panels Save Money Reddit

The simple answer to the question do solar panels really save you money is yes.

Do solar panels save money reddit.

But the true cost of solar panels and whether they ll help you save money depends on a few key factors. Solar panels do two things that are not commonly mentioned. I am mainly doing this to save on electric costs and have redundancy for when the power goes out. If you already have solar panels this won t affect you you ll still get your payments.

Improvements to designs and cost reductions are happening rapidly. The credit could save the average homeowner 5 000 or more depending on the size of the system according to energysage a solar marketplace with a calculator to help estimate savings. That being said how much you ll save depends on a number of factors. If your roof is deeply shaded by trees mountains or buildings solar panels won t work well.

It s worth taking some time to review all of your equipment options and find the right combination of price and quality for your home. Have had solar panels for a few years now it s pretty good pay less for power though depending on what time of year it might generate more or less power and if it puts power onto the power grid you will provide green energy for your town and depending on your electric company you may even get paid for the power you generate. I get a 30 federal tax credit on the system so 9000 and massachusetts gives me 1000 state tax credits. Installation prices will vary significantly depending on the solar company you choose and the equipment you install.

On average installation and the system together can run between 15 000 and 25 000. While cheap solar panels might feel like the easiest way to save some cash your total 20 year savings will often be higher if you invest in high quality equipment. Solar technology is perhaps the greatest development of the modern age. If you re thinking of getting them now the only benefit is the savings on your energy bill so it could take upwards of 70 years to claw back your initial investment.

Do solar panels really save money. Aside from the usual benefits you will add value to your home i ve heard 10 20k is the median but it depends on your neighborhood state etc. How much does the solar panel system cost. It is apparently supposed to save me 150 a month on my electric bills which are now outrageously high 400 750 for a 1200sqft house.

It may seem obvious but access to sunlight is important. Additionally you ll use less energy because you ll use less energy in the summer.