The cost of solar energy continues to fall as credits and stipends continue to increase and the cost of installation becomes cheaper. But how much further can it call and is it worth it for many residents?
Well, it depends on the state for one and how much electricity you are already using.
Here is everything you need to know about solar and if the cost of solar is worth it.
What Does Your Current Electric Bill Look Like?
Your current electric bill will play the biggest role in whether you need solar power. Many of these decisions will come down to if you use your AC a lot.
Places like Florida and California are prone to extremely hot weather conditions that require the AC to be run almost year-round. This, and paired with rising kilowatt-hour prices, can make solar panels all that more appealing.
Do You Get Enough Sunlight?
Sunlight is also going to play a huge portion of whether solar energy is the right fit for you. You need the sun to get solar power in the first place, and if you are living in a rainy and cloudy state, you may not get enough sunlight.
Without the sunlight constantly beating down on the solar panels, the cost to install may not outweigh the drop in the electric bill.
Solar panels are dropping in prices by the day and they are becoming more efficient, meaning we can pay less for more.
Are There Incentives In Your State?
Incentives for solar panels are becoming more common on the state level. While there are already federal incentives, state incentives are continuing to rise as a way to push more residents to utilize cheap and affordable energy source.
These incentives can be minor like waived fees for install or increased speeds in permit allocation, to major ones like cashback and property tax exemption.
What Is Your Method of Payment?
The method of payment will also play a huge portion in whether you should consider solar energy or not.
If you want to maximize savings, paying for the solar panels out of pocket, all at once will allow for the best savings over time. But for those that are paying by the month with 0 down, the savings will be less.
Most residents save enough on the electricity bill to justify spending the money monthly on the solar panels.
To find out the true cost of solar, be sure to check out the link.
The Cost of Solar Will Continue to Be Worth It
Regardless of when you decide to, the cost of solar will almost always outweigh the cost of your electric bill. The planet is getting hotter and AC’s are running for longer. Getting solar panels will be the way to go in the future.
If you want to learn more about the world and everything it has to offer, be sure to check out our other articles. If you know someone that is interested in advanced home technology such as solar, be sure to share this article with them so they can finally make the switch.