Is It Still Worth Getting Solar Panels

Solar source technician jason breaux is tethered to the roof of a house in dunedin florida during a solar panel installation.

Is it still worth getting solar panels.

While solar leases and power purchase. Energy companies do not have to start making payments under the seg scheme until january 2020 but one company octopus energy has already launched two tariffs. It s a question we get asked dozens of times a day and for most households installing solar panels is worth it. Inflation at 2 5 and a 5 discount rate.

Should i still get solar panels. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. Assumed that 50 of solar energy is used by the home self consumption rate panels are tilted to the north at 30 pitch. The average cost of a solar panel system for a home in may 2020 is 3 18 per watt making an average 7 kw installed residential solar power system 22 260 before the 26 federal solar tax credit and 16 472 once the tax credit is applied.

How are you financing your solar panel system. Depending on the cost of installing solar panels it may no longer be worth it if you re thinking of getting them. Well here s something to keep in mind as it s recently risen for solar panels from 5 to 20 as of autumn 2019. If you submitted an application for the scheme before 31 march 2017 you ll still get paid for generating electricity for the full 20 years.

If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands. One reason solar panels are worth the investment is a solar battery because it stores the energy created during the day so you can use your system regardless of the conditions. The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing an average sized residential solar. As you can see for most australians they can install solar and have the system pay for itself within 6 years.