Believe it or not, the cost of installing solar power in your home has dropped by more than 70% over the last decade.
It isn’t unusual to walk through a neighborhood and see occasional solar panels on the roof of a home. And most of us are well aware of the benefits that investing in solar can bring.
Yet how long do solar panels last, and is it worth buying them?
Let’s take a look.
Installing solar panels is a bit of an investment. In fact, it’s estimated that it will cost most homeowners between $15,000 and $25,000. Of course, payment plans and tax credits can help make this more affordable for folks who don’t have all of the cash on hand.
However, investing in solar can end up saving you a good deal of money, depending upon your energy use and location. You could end up saving between $10,000 and $30,000 on utility bills over the lifetime of your system. Get prepared to see a drastic reduction in energy bills after you have them installed.
One of the main reasons individuals invest in solar panels is because it’s kinder to the environment. It’s pollution-free and results in no greenhouse gases, allowing you to reduce your carbon footprint and dependence on oil.
Beyond that, purchasing solar panels can increase the value of your home. Prospective buyers know they will be enjoying lower electricity bills when they purchase a house with solar, so they will be willing to make a larger offer when the time comes.
What Is the Life Expectancy of Solar Panels On the Roof?
Of course, you’ll want to be certain that you’re making a long-term investment when you’re purchasing solar panels. The amount you save on energy bills will depend largely upon how long they last.
In general, solar panels will last between 25 and 30 years, at which point their efficiency will begin to diminish slowly. Factors like extreme weather conditions or poor installation can cause a shorter lifespan.
Before investing in solar, you’ll need to do some calculations. How much will you end up spending each month to purchase them? This can be offset by the national tax credit of 26% of installation costs, as well as possible state tax credits.
Next, figure out how much you will save on electricity and heating bills each month. You may need a solar panel expert to help you with this. For example, you can get solar installation here.
Finally, multiply that number by 25 to figure out how much you’ll be saving overall. Subtract the cost of installation from your overall savings, and you’ve figured out how much money you’re going to save. If you use a lot of electricity and are located in an area that gets plenty of sunlight, you’re going to be pleasantly surprised!
The cost of solar panels on the roof is well worth it when you consider how much money solar energy will save you. With the right service, you could be enjoying wonderful, natural energy in no time.
Don’t stop getting smart about your home and lifestyle now. For more great advice, read our blog today.