Every year around this time, people start thinking about ways to save money and plan for their financial future. If that’s you, and you happen to own your own home, one avenue you definitely need to explore is making the switch to solar energy. For decades, anybody who wanted to go green and make the switch to solar had to be prepared to take a bath on installation costs, because they were astronomical. But over the last decade the situation has changed dramatically. Today, the cost of installing solar energy systems has never been lower, while the potential return on your investment has never been higher. That means, for a lot of people, going solar isn’t just financially feasible. It might actually be a really solid long term investment. So if you're asking yourself, "Are solar panels worth it for my home?" the first thing you need to do is get a free estimate and consultation from the experts at Understand Solar.
Are Solar Panels Worth It?
Understand Solar is a third party solar energy advocate that provides free personalized solar energy assessments, educates consumers, and puts them in touch with local installers. To get your free personalized solar energy assessment, all you have to do is fill out Understand Solar’s simple online form and provide a few details about your home. After that, an Understand Solar expert will contact you via phone and go over your assessment and any questions you may have. But absolutely no commitment is required.
Your free solar assessment may reveal that, for one reason or another, solar energy just isn’t right for you. Perhaps your house doesn’t get enough direct sunlight. Or perhaps the government regulations and energy rates in your area make an investment in solar energy unprofitable.
However, the average cost of installing solar energy systems has dropped a whopping 70 percent over the last decade. So your assessment might reveal that going solar makes so much sense, you’d almost be losing money by not taking the plunge.
Will Going Solar Save You Money?
When most people think about investing in solar energy, the first thing that comes to mind is reducing or even eliminating their electricity bill. And it’s true that, in some cases, you can nearly eliminate your dependence on traditional energy. However, in most cases the money you save on electric bills is offset by the cost of financing your solar energy system. Where you really stand to make money on an investment in solar energy is the long term value it adds to your home.
Though everything depends on where you live and how much sunlight your property gets, generally speaking homes with solar energy systems sell faster and for higher prices than homes without solar energy systems. One recent study found that solar energy systems add about 4.1 percent to the value of the average home. Another study found that buyers are typically willing to pay $15,000 more for a home with solar energy. And yet another concluded that you gain about $5,911 in value for each kilowatt of solar energy installed.
Again, these are all averages using data collected from different regions. The exact figures in your area will vary. But in general, when you factor in projected increases in electricity rates over 10-to-20 years, and all the money you’ll save on traditional energy, plus the value a solar energy system can add to your home. And assuming you negotiate a good deal on solar financing—solar panels can be a very good long-term investment. It’s even possible that an investment in solar energy could outperform traditional investment portfolios over the course of 15-to-20 years.
Get Your Free Personalized Solar Energy Assessment
Of course, if all that sounds complicated, that’s because, like any investment, it is complicated. But you don’t have to figure it out on your own. The experts at Understand Solar can walk you through the entire process for free with no commitment required.
So, are solar panels worth it for your home? Find out for yourself with a free personalized solar assessment from Understand Solar, today.
Futurism fans: To create this content, a non-editorial team worked with an affiliate partner. We may collect a small commission on items purchased through this page. This post does not necessarily reflect the views or the endorsement of the Futurism.com editorial staff.