Do solar panels actually save money on electricity?
Posted on
April 10, 2011 by
admin
Everyone is talking about solar panels and their benefits. Of course, most consumers want to know how much they can actually save on utility bills. It’s not cheap to have solar panels installed on your roof. It could run anywhere from $10K to $20K. So it’s a big investment. How long will it take you to recoup the cost of installing. Well, it’ll probably take you a decade. So here comes the problem, if you sell the house before then, you don’t recoup the cost. But of course it’ll add value to your house and equity.
However, if the housing market keeps stagnant, you might have a hard time getting the money back. That’s the financial part. Environmentally, it’ll help greatly if many household make the investment.
I too have thought about how much solar panels might save someone. It can be costly to install and if broken down in the long run could potentially be not worth the cost. That though is data we should look into. Yes, environmentally this is a sound decision.