Is Putting Solar Panels Worth The Investment

Ironically the investment opportunity wasn t in investing in the manufacturers of solar panels.

Is putting solar panels worth the investment.

Chris zuppa the penny hoarder you might think that owning a solar system would ensure 24 7 access to electric power even when the grid goes down from hurricanes or other disasters or accidents. But it s not a straight calculation. The question of solar power panels is one that comes up increasingly and that will only increase as the logic of a cheaper power bill for tenants or in some cases the potential for a 0 bill is a common sense winner. Most property owners can break even on their solar investment in 7 to 8 years.

If a homeowner paid 18 000 for solar those panels don t necessarily add 18 000 to the resale. If you live in an area with high energy rates and a suitable solar rating and can afford the initial investment it s worth installing solar panels in your home while the 26 tax break is in. Are residential solar panels worth it for my house. But the high initial cost of solar panel installation makes many canadians wonder if it is worth the investment.

Contact any solar panel company and they will tell you the cost per watt. Generally solar panels create enough energy to power your whole house. Overseas manufacturers such as china were dumping massive amounts of solar pv onto the market. Though a solar panel system is a substantial investment up front over time it can more than pay for itself.

While it is up to each of us to decide the best way to spend our hard earned money residential solar panels compare very favourably to other traditional forms of investment. This caused panel prices to plummet comparatively so while solar panels were worth it for the consumer the manufacturers struggled to make a profit. In this article we look at each province and territory to examine if solar panels make sense in your area. With a solar payback period of between 4 10 years this represents a simple investment return of between 10 25.

Solar source technician jason breaux is tethered to the roof of a house in dunedin florida during a solar panel installation. Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you.