Is Putting Solar Panels Worth The Investment

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Is putting solar panels worth the investment.

Generally solar panels create enough energy to power your whole house. Overseas manufacturers such as china were dumping massive amounts of solar pv onto the market. Panels that are owned add some value to the resale. Contact any solar panel company and they will tell you the cost per watt.

But the high initial cost of solar panel installation makes many canadians wonder if it is worth the investment. While it is up to each of us to decide the best way to spend our hard earned money residential solar panels compare very favourably to other traditional forms of investment. This caused panel prices to plummet comparatively so while solar panels were worth it for the consumer the manufacturers struggled to make a profit. If a homeowner paid 18 000 for solar those panels don t necessarily add 18 000 to the resale.

With a solar payback period of between 4 10 years this represents a simple investment return of between 10 25. The question of solar power panels is one that comes up increasingly and that will only increase as the logic of a cheaper power bill for tenants or in some cases the potential for a 0 bill is a common sense winner. Ironically the investment opportunity wasn t in investing in the manufacturers of solar panels. Most property owners can break even on their solar investment in 7 to 8 years.

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. But it s not a straight calculation. Solar energy is something we have looked at many times ourselves. Solar source technician jason breaux is tethered to the roof of a house in dunedin florida during a solar panel installation.

Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you. Though a solar panel system is a substantial investment up front over time it can more than pay for itself.