Are solar panels worth it

Are solar panels worth it? Let’s be real for a minute. Solar energy offers many benefits for the world as well as for homeowners. But not everyone’s the same. Here’s what to consider when determining if home solar panels are worth it for you and your family.

• What are the benefits?
• Which homeowners benefit most?
• Are solar panels worth it financially?
• How long do solar panels last?
• Conclusion

Homeowners who can take advantage of local and federal tax incentives

Cost plays a role in almost every major decision a homeowner makes. And there’s no question about it: a solar energy system is an investment. That said, it’s an investment that a growing number of homeowners are finding worthwhile.

Why? Well, for one thing, incentives on a statewide and federal level are making going solar more affordable.

The federal government has approved a 30% solar tax credit (ITC) for homeowners who want to install solar panels.* The ITC allows you to claim up to 30% of the total cost of a qualifying solar energy system, including labor and equipment.

Depending on where you live, you could save even more money with any state solar incentives that might be available to you.

And there might be even more incentives available to you on a local level. Some counties and cities offer incentives on top of state and federal credits. You can learn more about which solar incentives you may be eligible for by contacting one of our Solar Energy Specialists.

Homeowners with high electricity bills

If you have high utility bills and are frustrated that they keep rising each month, you may find that solar panels are worth it for your family. As you may have noticed, the cost of electricity in the U.S. is steadily climbing. Consumers are looking to cut electricity expenses and solar can help protect you against rising energy costs.

Homeowners who can take advantage of special programs offered by utility companies

Net metering is a program offered by some utility companies that allows you to receive credits on your electric bill for the unused energy that your solar panels produce. Depending on your unique home energy consumption and production, this could help you save money if your utility company offers net metering.*

Offsetting time-of-use (TOU) rates is another money-saving tactic that some homeowners with solar panels and a battery backup use. Some utility companies charge more when they anticipate energy usage is at its highest among most customers. For that reason, in a TOU rate structure, electricity rates are at their highest when customer demand is the highest. A battery backup allows homeowners to use the excess energy that their solar panels produce during the day to power their home when electricity rates are at their highest in the evening.

Homeowners who drive electric vehicles

If you drive an electric vehicle like a Tesla, Chevrolet Bolt or Nissan Leaf, you probably want to charge your EV at home. But you may find that charging your electric car at home is running up your electricity bill. Solar panels can be a great solution, ensuring that you have enough clean, renewable energy for both your home and your EV.

This is one of the reasons why Texas homeowner Joann Trial decided that solar panels were worth it for her family. She told us, “I deliberately charge my car while the sun is shining and the solar panels are reducing the load on my electrical system. They overproduce and that allows me to send electricity back onto the grid.”

Homes in sunny locations

Location plays a key role in determining the value you will receive from your home solar panel system. Homeowners who live in sunny locations like Arizona or Florida may find that going solar is worth it for them, while a house located in the woods and surrounded by trees is probably not an ideal candidate for solar panels.

Additionally, south-facing roofs will offer the best placement for solar panels, but solar panels can still work in less-than-ideal conditions like cloudy days.