We can all agree that solar power is great in theory. It's clean, it's abundant, and as long as the sun doesn't disappear anytime soon, it's 100-percent renewable. It has the potential to reduce your monthly utility bill while at the same time helping to reduce our dependence on fossil fuels. Best of all, solar power has never been cheaper. However, despite all these positives, it still doesn't make financial sense for everyone. So, is solar worth it? The experts at Understand Solar have the answers you need.
Is Solar Worth It?
Over the past 10 years, the solar energy industry has exploded. Employment in the field has more than doubled since 2010, and the industry has added an estimated $17 billion into the American economy. The industry as a whole has experienced an average annual growth rate of 50 percent. This is now surprise, considering that over the last 10 years, the cost of installing solar panels has dropped by around 70 percent due to reduced equipment costs, lower installation costs, and various tax incentives, including the Federal Solar Tax Credit.
When you factor in all the money you’ll save on traditional energy over the course of 15-to-20 years, plus the value a solar energy system can add to your home, solar panels start to look like a very attractive long term investment. Some real estate experts estimate going solar adds about 4.1 percent to the value of the average home. One study even found that buyers were willing to pay $15,000 more for a home equipped with solar. A second study estimated that you gain as much as $5,911 in value for each kilowatt of solar installed on your home.
That said, this isn't true for every home. These are just estimates and averages. It all depends on a variety of complicated factors including architectural features, geographical location and terrain, solar contractors and suppliers in your area, legal regulations, and tax incentives. Which brings us back to the question, is solar worth it? To find out, you need the experts at Understand Solar.
Understand Solar is a third-party solar power advocate that provides free personalized solar energy assessments. Just fill out their simple online form and provide a few details about your home, and a solar energy expert will contact you to go over your assessment and answer any questions you may have. That said, absolutely no commitment is required, so you have nothing to lose, and a lot to gain.
A Understand Solar expert will tell you everything you need to know, from how solar energy systems work, to how they connect to the public grid, to cost, and even how long your equipment is likely to last. They’ll also give you an overview of financing and leasing options, as well as any tax incentives available where you live.
It's possible that solar energy is not right for you. However, you may find out that solar is a great investment, in which case your Understand Solar representative can put you in touch with experienced local installers, if you so choose.
Is solar worth it? Click here to find out today with your free solar estimate from Understand Solar.
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