Are Home Solar Panels Really Worth the Cost?

As with other clean technologies like geothermal pumps and wind turbines, solar panels promise to reduce carbon dioxide emissions by relying less on dirty coil and oil, and helping people cut energy costs.

And while solar installation continues to become more efficient, more reliable, and more affordable than ever, there’s still a very long way to go in replacing antiquated, unsustainable sources of energy.

In the market for solar power, but don’t know where to start looking? Look no further than CalFinder Solar for the most competitively priced solar contractors in your area.

To get pricing on a solar panel installation in your area, click here.

Pricing varies by city, but federal incentives are available nationwide.

Average Costs of Solar Panel Systems

Average solar panel costs have been dropping rapidly. For the typical home (1,300 square feet in a moderate climate), a well-sized system will cost anywhere from $10,000 to $25,000.

And yes, that’s the point where homeowners’ jaws tend to drop. For many, the cost is far out of reach.

Or, at least they think it is.

Remember the part about solar panels being “more affordable than ever?” That’s exactly right. There are dozens of federal and state incentives that help homeowners with the high costs of installing new systems.

Believe it or not, even some utilities will foot part of the bill. After all tax write-offs and rebates are applied, a solar system that initially costs $20,000 can be purchased for $8,000 or less.

You might be thinking “well, over half-off is a great deal, but it’s still just not in my budget.”

Think again.

More and more solar panel manufacturers and start-ups offer very attractive solar leasing and financing options.

Before you know it, the panels that today cost in excess of $20,000 will be had for less than $5,000!

“OK, so I can save thousands on installation, but are solar panels really worth the cost?

In most scenarios, yes. Among the long-term (plus some shorter-term) benefits:

• You do your part to help end our addiction to non-renewable, unsustainable and polluting energy sources, as well as invest in your home’s future. Think future resale value.
• Depending on the size of the system in relation to your home, average energy savings of 50-80% a year are not uncommon, by far. In cities like Houston and Dallas, it’s common for homeowners to shell out over $15,000 a year for energy alone! 25% off $15,000? Well, you do the math!
• In rural, off-grid locations, solar installation costs can be 10 times as affordable.
• And as the housing crisis continues to drive home values down, a sizable solar panel installation can significantly boost your home’s value.

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Are Home Solar Panels Really Worth the Cost?