The cost of solar has dropped dramatically over the last two decades making solar more affordable than ever. Electricity rates are increasing, so lower solar costs and higher utility rates have improved the return on investment and payback. In fact, solar power isn’t just about being nice to the environment; it’s a wise financial decision. In most cases, homeowners will save tens of thousands of dollars or more over the life of a system.
Going solar does not mean you have to pay for it all at the time of installation. Several solar financing options exist to help spread out the costs over time, plus federal tax credits and state incentives, offset the costs. This makes solar still well worth the investment even after calculating interest charges.
With all this in mind, going solar can save you significantly on your electric bill and can even increase your home’s value. A 2018 Zillow analysis said solar panels raised the value of a home by 4.1% across the U.S. Call us to find out more.