Did you know that solar energy is now the world’s largest energy source?
With this, more people are becoming interested in going solar. However, most people only want to know the cost of going solar. They don’t think about their return on investment.
There’s more to going solar than just the cost. We’ll draw up a full picture of the costs to help you learn about the true cost of going solar.
Read on to learn more.
Installation Costs
Going solar can be a major investment and it is important to understand the true cost. Installation costs are the most significant cost associated with going solar.
The average cost of a solar installation in the United States is about $3 per watt. This does not include additional expenses like taxes, labor, and maintenance.
To estimate your total installation cost, you need to know how large of a system you need for your home. This depends on your energy needs.
It is also important to factor the cost of the necessary equipment, such as solar panels, inverters, and safety gear, into your budget. Ultimately, installation costs may even be reduced through the use of tax credits, grants, and financing options.
Government Incentives
Going solar is an investment that can save on energy costs for years to come and protect the pocketbook from future rate hikes. While the initial cost of solar panels, installation, and maintenance may seem high, there are numerous government incentives available that can help offset that cost. One such incentive is the federal investment tax credit. This offsets the cost of a solar energy installation by up to 30%.
Additionally, many states and local municipalities offer grants and rebates. This can help make solar power more affordable. Understanding all possible incentives and funding sources can help lower the true cost of solar panels and maximize overall investment returns.
Using a solar estimate tool can help you calculate a rough estimate of your projected costs. This tool takes into account the cost of the solar panels, the equipment, and installation costs, plus all applicable rebates and incentives in your area.
Solid Return on Investment
Solar systems are typically paid off in around six to eight years. This depends on the size of the system and the energy needs of the home.
When you factor in the added savings over traditional electricity, solar panels are often seen as a low-cost long-term investment. In addition to energy savings, solar systems also have a positive environmental impact, reducing carbon footprint and supporting the movement toward a cleaner and more sustainable energy infrastructure.
Demystifying the Real Cost of Going Solar
Going solar is a great investment, not only for yourself but also for the future of our planet. It is an investment that continues to pay dividends long after the initial cost. However, make sure to do your research regarding the cost of going solar.
Choose a reliable solar provider to ensure that your investment is sound. Make the switch to solar today and begin to experience the amazing benefits of this renewable energy source.
Check out our other blog posts for more home and lifestyle tips.
