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Solar power can save the average American household $1,320 per year in electricity bills, and installing solar panels increases the average U.S. home value by $15,000.
Solar power may eliminate your electricity bill, potentially saving you $1,108–$2,862 annually. With net metering, you can also make money on excess electricity your solar panels produce.
Installing a 3-6 kW solar system on your home can increase its resale value by $4 per watt, roughly $12,700–$16,000, depending on the system size and where you live.
Installing solar electricity for your home can earn you local, state and federal tax rebates and incentives. Until Dec. 31, 2021, homeowners can deduct 30 percent of installation costs from their federal taxes.
The cost to install solar power depends on how much electricity you need to produce, how many solar panels you install, where you live, the solar power company you hire, and what type of photovoltaic panel you choose. In 2019, after federal and state tax credits and rebates, the cost to install solar panels on an average-size U.S. home is $11,200 to $14,400.
Investing in solar power can quickly cost upward of $25,000 before rebates or tax breaks. There are three common methods of financing solar panels: leases, a purchase-plan-agreement, or a loan. Each option has its own benefits and drawbacks. Some companies offer special deals for qualified buyers, like $0 down payments and low-interest rates. We recommend discussing your options with any solar installer or finance provider you choose to work with.
Solar energy can benefit your financial life, home and the environment in many ways. But there are a lot of factors to consider throughout the process that make the decision complicated. That’s why we’re here to help you simplify the experience of going green with solar.
If you request a free quote from Solar Power Authority, we connect you with a team of experts in your area who will help you figure out the technical details.
Our industry partners begin by offering you a free solar energy consultation, which determines if your home is a good candidate for solar, and if it will save you money in the long-run. Afterward, they’ll evaluate your home’s energy needs, roof size, layout, and sun exposure to give you a customized solar unit design, ensuring optimal system efficiency and aesthetic appeal. Last, our partners coordinate with the best solar panel installers near you to begin the purchase and installation process.