Are solar panels worth it?

Solar panels are worth it if you already own your property, are dealing with high energy bills and can get solar panels installed that don’t come with a huge price tag. It’s even more worth it when you can take advantage of tax credits, incentives and rebates.

Are solar panels worth it if you move?

If you think you might move before you reach your payback period, purchasing a solar panel system may not be worth it. Instead, consider community solar, which doesn't lock you into a long-term investment. However, adding a solar panel system can still benefit you financially if you move.

Do solar panels increase your home's value?

According to new research from SolarInsure, which looked at thousands of California homes, solar panels can increase your home's value by about 5-10%. Just be wary of leasing solar panels if you think you might move. Leases are typically long-term and can be difficult to cancel, making it more challenging to sell your home. 5.

Are solar panels worth the tax credit?

But tax credit or not, solar panels are worth it for the vast majority of homeowners. If you own your home, pay decent electricity rates, and have a suitable roof, the investment will still likely pay off handsomely over time. The key is doing your homework: Get multiple quotes, understand your financing options, and don't rush into any decisions.

Is going solar worth it?

If you don't have high energy costs or your state makes it harder to go solar, it might not be worth it financially. Even after weighing all the pros and cons, the decision to go solar is a highly personal one.

Are solar panels a good investment?

Solar panels are cheaper than ever, but they can still be a big investment. The average home solar panel system costs $16,715 in 2023 ($23,879 before factoring in the federal solar tax credit). Over 25 years, the average estimated net savings range from $10,000 to $25,000.