Do Not Pay Upfront To Install Solar Panels

A recent report by the u s.

Do not pay upfront to install solar panels.

Lower electric bills with a solar power system. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. The annual billing cycle starts the same date your system turns on not necessarily the date it was installed and ends a year later. High installation costs keep many homeowners from buying and installing solar panels that they own.

The rising cost of electricity from traditional sources makes solar installation seem like a no brainer for many homeowners. Savings that a solar panel system will bring to your monthly electric bill will number in the tens of thousands so do not hesitate to install a solar panel system today. A solar company installs and services the panels. But the true cost of solar panels and whether they ll help you save.

Department of energy s national renewable energy laboratory nrel recommended that consumers compare as many solar options as possible to avoid paying inflated prices offered by the large installers in the solar industry. Assuming you don t have the cash to buy your solar energy system upfront like the vast majority of americans there are a variety of financing options to help you hitch onto the solar bandwagon and start increasing the value of your home. Average lease costs are between 50 250 per month based on the size and overall production of your system. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8.

What s the return on investment for solar panels. However if you can t pay for a solar panel setup up front you may be eligible for affordable financing options. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house. But how much do solar panels save on electricity bills.

Here s how it works. Leasing means low or no up front costs.