Are you trying to figure out if going solar is actually worth it?
Over the last few years, solar power has been steadily increasing in popularity. This might be because of the urgency we’re starting to feel over climate change. It might also be the fact that you can end up saving loads of money by going solar.
Whatever the reason for installing solar panels, there is still an initial cost that many people find offputting. If you’re wondering whether or not going solar is worth it to you, read on to find out.
How Much Does Going Solar Cost?
It depends on how many solar panels you decide to install on your home, but the average system costs anywhere between $15,000 and $25,000. The larger the solar panel system you install, the more affordable it becomes on a per-cell basis. It also depends on where in the country you live – it’s cheaper, for instance, in Kentucky than it is in Nebraska.
Solar is rapidly coming down in overall price and, according to Carbon Brief, it’s now the cheapest electricity in history. Still, some see the $15,000 minimum price tag and rule out solar power immediately. This is because they’re not getting the whole story.
Thinking About Solar Incentives
One thing you absolutely have to take into consideration when looking at solar panel installation is the incentives that are available. In particular, the federal solar tax credit, which gives you a tax break for 26% of your solar panel installation if you go solar before the end of 2022. After that, it goes down to 22% until 2024, when it will disappear, unless it’s extended.
There is also a litany of state and municipal tax credits and rebates that you can apply for. All in all, you can chop the cost of going solar in half with all of these tax and rebate-based incentives.
You Can Save On Energy
In addition to the incentives that make solar much more affordable to install, you’re going to save huge on your energy bills. Depending on the number of panels you install with a company like Blue Raven Solar, you could eliminate your bills altogether and start sending your excess power to the power grid, where you can earn extra cash. You can also sell your SRECs to the state government for money.
Add Value to Your Home
Going solar will add value to your home, should you decide to sell at some point. Not only will it help you sell your home for more money, but it’ll be more enticing for buyers, so you’ll be able to sell really quickly.
Help the Environment While You’re At It
So far, we’ve discussed many of the financial benefits of going solar, but one of the things that really makes it worth it is being able to lower your carbon footprint. Our planet is at a crossroads with climate change and the more people that decide to go solar, the better chance we have at slowing and reversing the current trends. This is more valuable long-term than any financial savings that you’ll get.
If you’ve been convinced that it’s time to go solar, find a solar panel installation company near you and look towards a brighter future.