Is Solar Power a Smart Investment?
Is Solar Power a Smart Investment?Sunrise SolarMon, 11/29/2021 – 8:00am
There is no denying that installing a solar system for your home or business costs money. For some, the upfront costs can make them question whether this purchase is really worthwhile. However, it is important to consider solar power as an investment — one that will pay off significantly in the years ahead.
Why Solar is a Good Investment
As soon as your solar system is up and running, it starts paying for itself. Many families are even able to reduce their monthly electricity bill to zero based on how much energy their panels produce. While your savings will vary based on factors like your climate and the cost of electricity in your area, most panel installations will pay for themselves within 10 years. A 25-year warranty ensures that you’ll come out ahead financially in the long run.
While tax credits are still available for solar energy installations, the upfront cost of a new solar system can still seem daunting. The good news is that you can obtain personal loans to finance the cost of your solar system. Monthly payments will make the installation cost more manageable — and once the loan is paid off, you will own your panels outright. Your bank or solar contractor can help you understand available financing options.
For a cost-effective solar panel installation for your property, you can count on Sunrise Solar. Our experienced team will help design a configuration that maximizes your energy production, while still respecting your budget. Contact us today to request an estimate