Is It Worth Getting Solar Panels

That s a pretty good deal courtesy of uncle sam.

Is it worth getting solar panels.

One downside of solar panels is that you can only use the energy generated immediately that is when you are at home putting lights on and running appliances. If a homeowner paid 18 000 for solar those panels don t necessarily add 18 000 to the resale. But it s not a straight calculation. Start comparing solar quotes on the energysage marketplace to see how much you can save.

However what makes solar panels worth it are the robust federal and state incentives. Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you. The federal government offers a tax credit of 30 of the cost of a qualifying solar pv installation. The government is effectively contributing nearly 1 3 of the price of your going solar.

Separately zillow released a study in 2019 which concluded that solar panels on average added 4 1 to the value of a home effectively making installing solar panels a worthwhile investment even if you plan on selling your home in the future. Panels that are owned add some value to the resale. That means homeowners but not renters can subtract the credit from the federal income taxes they owe in effect reducing the price of their solar purchase by nearly one third. One of the biggest advantages of installing residential solar panels is a 30 federal tax credit on the total cost of a system.