Installing solar panels in your home can be a great way to reduce your energy bills and also do your bit to help the environment. Most people don’t need convincing of the benefits of generating their own power and hot water from solar panels, but what stops them from making the switch to this natural energy source is usually the cost, and whether they will actually see a return on their investment. If you’ve been thinking that installing solar panels in your home might be a good idea, here are some of the things you need to think about.
The cost of installing a solar power system in the average home is likely to be in the region of $15,000. If the returns for using more solar power were significant, this would probably seem like a really good idea despite the high price tag. However, this average sized home can probably only expect to reduce their annual energy bill by a couple of hundred dollars. Which means it would take a long time before they saw a return on their initial investment, But when you look at some of the other figures involved, it’s actually a different story.
You might only be looking at saving around $200 a year, but when you take into account the 30% tax rebate you can get from the federal government, the additional tax breaks you will get from the state government, and the funding that many of the energy companies are offering if you make the switch to natural power, the actual cost of having solar panels installed is going to be nothing like $15,000. In reality, a figure of around $2,000 is probably more likely, and with this greatly reduced investment delivering the exact same savings, it’s easy to see why more and more people are taking an interest in solar power.
Something else worth considering is that most of the energy savings are calculated using the current energy prices. With dwindling resources, energy is expected to get much more expensive over the coming years. So spending money on fitting a solar energy system now will mean that you’re likely to make even more from your investment.
As with any investment, it can take time before you get your money back, and you might want to move before your solar panels are in profit. However, seeing as homes that benefit from natural energy can be more valuable, you shouldn’t lose out. The government and other organizations are literally falling over themselves to give you the money you need to install solar panels. So whether it’s purely for the environmental benefits, or because you like a good investment, there’s never been a better time to switch to natural energy.
Now Try – Solar Panels Or Photovoltaic Solar Panels