A homeowner received tons of good advice after asking a seemingly simple question: Are solar panels worth it?
On the r/solarenergy subreddit, they mentioned that, after credits and rebates, their solar panel purchase and installation would cost about $15,000.
With their projected monthly savings, they estimated it would take about 10 years for the monthly savings to equal the upfront cost.
"I've been puzzled as to whether this is a good investment or is it better to just pay the electric bill?" they wrote. "I've been thinking if I put (the money) into an investment that earns 6% would that be better?"
Solar energy is undeniably cleaner than that derived from dirty fuels, such as coal, oil, and gas, and it can reduce monthly electricity bills to nearly zero.
But they do come with an upfront cost, which makes EnergySage's free tools all the more helpful. Homeowners can use EnergySage to obtain solar installation estimates and compare quotes from local, verified installers.
As many commenters told the original poster, those monthly savings add up. With energy rates skyrocketing for many Americans, several commenters said their solar panels paid for themselves even quicker than they had imagined.
"Considering what I've saved in electric and gas expenses, the system has paid for itself and everything else is free," one wrote.
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But that upfront cost could soon increase, as the federal solar tax credit will expire at the end of 2025. To see what incentives are available near you, EnergySage's free mapping tool lists not only that, but also the average installation cost for solar panels in each state.
The average homeowner who uses EnergySage's services saves up to $10,000 on solar installations. When the monthly savings kick in, they can be amplified by pairing solar panels with other electric appliances, such as an energy-efficient heat pump.
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What's the biggest concern you'd have about getting solar panels? Click your choice to see results and speak your mind. |
The cost 💰 These technological marvels are not only better for the environment but also much cheaper to operate than traditional furnaces. EnergySage can help with these, too, thanks to their heat pump quote-comparison tool, which lets homeowners find the right heat pump and installer for their budget.
Although the financial savings can be tremendous, they're not the only benefit to going solar. Several commenters pointed out that money was a secondary concern to them, as opposed to reducing their carbon footprint and helping keep our planet healthy.
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"I did not install the solar panels to make/save money," one commenter wrote. "I did it to feel good about doing my part. It feels good every day. Makes me happy. It is worth more than money I will save."
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