Is Putting Solar Panels Worth The Investment

Overseas manufacturers such as china were dumping massive amounts of solar pv onto the market.

Is putting solar panels worth the investment. While it is up to each of us to decide the best way to spend our hard earned money residential solar panels compare very favourably to other traditional forms of investment. Solar energy is something we have looked at many times ourselves. Most property owners can break even on their solar investment in 7 to 8 years. But the high initial cost of solar panel installation makes many canadians wonder if it is worth the investment.

The question of solar power panels is one that comes up increasingly and that will only increase as the logic of a cheaper power bill for tenants or in some cases the potential for a 0 bill is a common sense winner. Factors like electricity rates solar panel system cost and financing method all play into how worth it solar will be for you. Solar source technician jason breaux is tethered to the roof of a house in dunedin florida during a solar panel installation. Generally solar panels create enough energy to power your whole house.

In this article we look at each province and territory to examine if solar panels make sense in your area. If you live in an area with high energy rates and a suitable solar rating and can afford the initial investment it s worth installing solar panels in your home while the 26 tax break is in. Chris zuppa the penny hoarder you might think that owning a solar system would ensure 24 7 access to electric power even when the grid goes down from hurricanes or other disasters or accidents. Ironically the investment opportunity wasn t in investing in the manufacturers of solar panels.

Though a solar panel system is a substantial investment up front over time it can more than pay for itself. If a homeowner paid 18 000 for solar those panels don t necessarily add 18 000 to the resale. This caused panel prices to plummet comparatively so while solar panels were worth it for the consumer the manufacturers struggled to make a profit. But it s not a straight calculation.

Start comparing solar quotes on the energysage marketplace to see how much you can save. Panels that are owned add some value to the resale.