Going solar can seem like a huge investment. And the truth of the matter, without all the different incentives with federal tax credits and state incentives, they can be. But if you’re considering going solar and thinking about the cost you should consider the yearly savings.
The Solar Cost
Solar panels are not cheap and easy to install or otherwise, everyone would have them placed on their homes. A solar paneled flush mount system can cost about $5 per watt, that is $15,000 average to produce 3kW. But with all the incentives installing solar you’ll save from federal tax credits, state tax credits, and other local rebates.
Don’t forget when going solar you will be saving money on the amount of energy you would use because you won’t be purchasing energy from your electric company. Electricity can be expensive in many states compared to other states, so solar would be a huge benefit to you if you live in a state that offers high prices and tax breaks.
Save On Solar
Financially solar will cost, but will save you money! Going solar is the way to go. How much can you save? In general, the estimated savings you could save on average would be $20,000 through the 20-year course! Here is a great link of an infographic that gives you an estimated breakdown of how much you could be saving in your actual state.
Understand your potential saving where you live is the key. You may be thinking investing long-term on a home may be risky, but it is not. Getting to know the facts on your home appreciation with having solar panels installed. The short of the story is that solar mounting systems typically installed increase the value of your home!