Are Solar Panels Worth The Cost Reddit

However what makes solar panels worth it are the robust federal and state incentives.

Are solar panels worth the cost reddit.

Is 3 14 per watt 15 700 for a 5 kilowatt system. If a homeowner paid 18 000 for solar those panels don t necessarily add 18 000 to the resale. The federal government offers a tax credit of 30 of the cost of a qualifying solar pv installation. When you install a tesla powerwall with a solar panel system you can get a tax credit equal to 26 of the installation costs.

The r solar community promo post september 01 2020 the subreddit sunshine mine and only spot for the latest news about your business app blog site article youtube channel or anything else you are affiliated with. Estimate solar system size and installation costs. The federal tax credit would drop the installation cost of one powerwall by 2 860 bringing the total cost down to 8 140. In the end we ll compare it to the cost of owning solar over the same time period so you can determine if solar panels are worth it in the long run.

How much does a 5kw solar system cost in 2018. While cheap solar panels might feel like the easiest way to save some cash your total 20 year savings will often be higher if you invest in high quality equipment. In those events you have to rely on a generator or buy a battery backup for your solar system. Another reason why i would say that these are not worth the cost and time is the reason that because of these panels a user comes in debt to twice the price.

And while the cost of solar panels has dropped more than 70 since 2010 according to the solar energy industries association batteries can cost as much as 10 000 to 15 000 including installation according to solar united neighbors. Keep this figure handy. How much does the solar panel system cost. That means that the total 5kw solar system cost would be 10 990 after the 30 federal itc discount not factoring in any additional state rebates or incentives.

Installation prices will vary significantly depending on the solar company you choose and the equipment you install. But it s not a straight calculation. 33 813 is the cost of buying power from the utility over 25 years. As of january 2018 the average cost of solar in the u s.

The government is effectively contributing nearly 1 3 of the price of your going solar. The issue for consumers is that they cannot easily compare solar panel costs because company quotes generally do not break down the cost and brand of solar panel they are using.