A Colorado homeowner went to Reddit with questions about whether getting solar panels was a sound financial investment. What they got in return was a solid education about all of solar's benefits — financial and otherwise.
The homeowner asked members of the r/solar subreddit about the math behind getting solar panels. In calculating the monthly savings they would see on their monthly energy bills, the original poster estimated that it would take 10 years to recoup the cost of buying their panel system.
"Is there anything I'm missing?" they asked. "I love the idea but I hoped (for) the more typical 5-6 year ROI."
Solar panels provide homes with clean, low-cost energy. They can not only reduce your reliance on the grid (and the dirty energy used by most utilities), but also bring your monthly energy bills way down, sometimes to zero. And by using EnergySage's free tools, homeowners can make another sound financial decision by quickly comparing quotes from local, verified solar installers.
But, as commenters mentioned in the Reddit thread, a financial return isn't the only thing to think about when buying solar panels.
"There are several factors you need to consider," one commenter wrote. "Dont look at solar as just an investment, or even as an investment at all. Look at the financial benefit as a great secondary benefit to helping stabilize the grid and conserve energy."
And while money isn't the only consideration when it comes to solar, it's also naive to think that it doesn't matter. That's why acting quickly on buying solar panels could be paramount for many homeowners.
The federal solar tax credit will expire at the end of 2025 and will only apply to those whose panels are installed by year's end. EnergySage says that the average homeowner who uses its services by then can save up to $10,000 on purchase and installation costs.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers that can help you save as much as $10k on installation. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best local options for your needs, and their expert advisers can help you compare quotes and pick a winner. |
To see how much you can save, check out EnergySage's free mapping tool, which shows the average cost of an installation in each state, plus the incentives currently available.
To really maximize the benefits of solar panels, consider pairing them with other energy-efficient appliances, such as an electric heat pump, to bring utility bills down even further. EnergySage's free services can help here as well, as its heat pump comparison tool lets you compare estimates, ensuring you find the right HVAC system for your home and budget.
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What's the biggest factor preventing you from investing in solar power?
Click your choice to see results and speak your mind. |
The cost 🫰 
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