Is Solar Worth It? A Look at the Numbers

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Over the past few years, there’s been a huge uptick in the adoption of solar energy among families across the United States. More and more have installed solar panels in their homes and started to utilize the power of solar power. 

There are many reasons for this switch, and they aren’t all environmentally based. If you’ve witnessed this change in your very own neighborhood, you may be wondering: is solar worth it? 

The answer will vary from one household to another, but it’s certainly worth looking into if you’re unsure about how solar might be able to benefit your life, home, and finances. What do you need to know about potential solar savings? Read on and we’ll walk you through what you need to know.

Is Solar Worth It? 

The answer to that question will really depend on how you value the many benefits that the adoption of solar power can bring. It’s no secret that investing in solar can require a big chunk of cash upfront. 

However, many homeowners view this initial payment as a big investment, and it’s true that the savings you can make later can help to cover this initial payout. The more you work to understand the many benefits of solar, the more you’ll be able to make this distinction for yourself. 

Saves You Money

At the end of the day, the real reason why many homeowners are making the switch to solar? It can save you a whole lot of money in the long run. Yes, there’s that initial investment that we mentioned.

But most solar panel systems can operate without the need for replacement, repair, or much maintenance for over two decades. That’s a lot of monthly energy bills that you can cut down on by a huge margin.

How much money you’ll be able to save by switching to solar will depend on how much energy you use and how much you are able to harness from the sun. Many families are able to chop off more than half of their monthly energy bill, running their homes off the free power of the sun. 

In some instances, the solar panel system may even make you money. Excess energy that you don’t use but have harvested will be sent back to the grid. The utility company in your area will then credit you for this energy, and you can save this cash to pay off what you may owe later on. 

The return on investment of a solar panel installation can be quite significant. If you’re looking to cut costs over the next few years, switching to solar might be the right move for you. 

How much you’ll need to pay to get your installation done will depend on your home, your access to the sun, and how much energy you’ll need to generate.

How much will you save in your household in particular? An experienced company like Blue Raven Solar could help you to calculate the exact total you might be able to put away. 

Increases The Value of Your Home

In addition to cutting down the cost of your energy bill, the installation of solar panels is also likely to be seen as an upgrade that will push up the sale price of your home.

Home buyers understand the many benefits that solar energy can bring. Getting a house with this system already installed and running could be a huge plus.

For this reason, you should be able to ask a little more for your home when it goes to market, somewhere down the line. That’s more of a return on your initial installation investment. 

Saves You Money on Taxes

There are even more savings to be had when you switch to solar. The federal government has continued to encourage its citizens to make this switch to solar.

Former President Trump most recently extended the solar incentives program, allowing those who take up solar to write off a portion of these costs on their taxes in the following year. 

This can help to lower the overall burden you have when it comes to tax time. 

There are also generally state and even local programs in place that can help to further lower your tax burden.

While these write-offs won’t help to fully cover the burden of solar installation, they can certainly help, especially combined with other manners of saving. 

These incentive programs won’t last forever, so it’s best to act fast if you’re hoping to take advantage of these savings. 

Helpful to the Environment

We’re in a bit of a climate crisis according to many researchers. While a lot more needs to change what we can do individually, lessening our personal footprint’s can do a lot to help the planet. 

Switching to a solar system can be one huge thing that an individual household can do. Energy from the sun is perfectly renewable. It’s free to harvest and the sun will always be there to provide for us (relatively speaking). 

Switching to a reliance on solar can help to lessen the need for fossil fuel burning, which contributes negatively to the overall global environment. 

Understanding Costs of Solar Panels

Is solar worth it? It’s a question that many who are new to the subject of solar panels might ask. With solar adoption on the rise all across the country, this is a topic that is well worth delving more into for yourself, and the above information can help.

Need more solar system advice and information? Keep scrolling our blog for more.

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