Are Solar Panels A Good Investment

Investing in solar panels.

Are solar panels a good investment. According to the international energy agency global renewable energy capacity is on track to expand by 1 200 gigawatts gw from 2019 to 2024 with solar powering 60 of that. Rebates low interest loans and grants may also be available. Generally solar panels create enough energy to power your whole house. They make it sound so easy but the truth is whether solar is a smart long term investment for you depends on a few major factors.

Companies market solar pv panels as an investment. Though a solar panel system is a substantial investment up front over time it can more than pay for itself. So before you buy into the hype we recommend you use this simple guide to cut through the sales jargon and determine if solar panels are actually worth the money. The rising cost of electricity combined with the declining cost of solar panels and systems the last few years makes investing in solar energy a no brainer for homeowners.

How old is your roof. With the declining initial solar panel installation cost increasing electricity bills and government backed solar incentives solar panel investment is definitely worth considering. Solar is a good thing but it s complex and people really need to understand what they re getting into explore whether your state offers its own tax incentives. On average homeowners can expect to save around 1 400 a year on their bill after switching to solar.

Plus our unique survey of estate agents reveals the effect solar panels will have on the value of your home. How much money you save depends on key factors however. Eventually there will be no more oil to drill natural gas to frack or coal to mine. The biggest advantage of solar investing is the fact that it s sustainable.

Keep reading to find out more. We can help you work out whether solar panels are a good investment for your money. Determining whether to install a pv solar system may seem like a daunting task but it is important to remember that such a system is a long term investment. Solar panels have an expected life span of about 25 years.