Can Adding Home Solar Panels Really Save Me Money? A Practical Look at Solar Installations

According to the U.S. Department of Energy, the cost of solar panels has dropped about 70% since 2014. Despite this price decrease, only 3% of electricity comes from solar power.

Are you considering getting home solar panels? They really can save you money.

This guide will explain all the ways solar panels will help you save. Keep reading to learn more.

Demand Has Reduced Price

One of the main reasons why you should get solar panels for your home is because they’re less expensive now than they’ve ever been before. As stated above, solar panel costs have dropped significantly in the last few years.

The more popular they become the more people seek out companies that manufacture solar panels. The increase in demand has created a market with a variety of solar panel manufacturers that offer competing prices.

This growth in demand has made it possible for solar prices to decrease so quickly.

State Tax Incentives

Another reason why you should consider getting solar power for your home is that there are plenty of solar tax incentives that can reduce the cost of the installation.

There are many different tax incentive programs you can participate in at both the state and federal levels. These tax breaks will reduce what you pay in taxes each year and make it easier for you to finish paying off the costs of the panels.

Zero Upfront Costs

As a homeowner you probably know the costs you incur after getting any type of renovation on your home. You also know that with any project that you get financed you’ll have to put some money down to have it completed.

Most solar installation companies like offer their services for zero dollars down. This means the company will design the panels, get all the necessary permits, and install them on your roof without you having to come up with any payments.

Reduced Utility Bills

There are many benefits of home solar power and one of the most appealing ones is the reduced utility bills you’ll start seeing following installation. Since solar energy is a renewable resource that doesn’t get depleted, it’s completely free.

When your solar panels start powering most of your home you’ll start seeing lower energy bills. Eventually, you won’t have to pay anything to your utility company. This is how solar panels end up paying for themselves.

A Great Investment

Other important solar panels advice you should know includes how they’re a great investment to make. Solar panels are durable requiring little to no maintenance during their lifetime. They also last up to 25 years.

Solar panels are also a great investment because they add value to your home. If you’re considering selling in the future, installing solar panels is a smart idea.

All the Ways Home Solar Panels Can Help You Save

Home solar panels can save you money in many different ways. They can reduce your utility bills and are a great way to increase your home’s value.

If you’re interested in learning more about solar panels or other home improvement ideas, check out some of the other blogs on our site.