Cost versus Benefits
Between upfront installation costs, incentives, tax benefits, loan options and a lifetime of energy savings, there are a number of financial factors that will help determine the ultimate costs and savings of your solar panel system.
The cost of installing solar panels is dropping nationwide, thanks in large part to tax breaks, rebates and other incentives offered by the government, your power utility and other organizations. Today, you can reduce the net cost of purchasing your solar panel system by 30 to 50 percent.
All solar panel energy systems are designed to save you money. Your solar savings will depend on where you live, how much energy you use and which financing options you choose.
We recommend using this calculator from EnergySage to help you determine the cost vs. savings benefits of installing solar. The calculator uses current pricing data from the EnergySage Marketplace and looks at available financial incentives that help decrease the upfront cost of a solar panel system. You'll able to see quick snapshots of what your potential 20-year savings, payback period, increased property value and net cost would be with various financing options.
Online calculators can give you a rough idea of a project’s costs and benefits, but only a quote from a qualified solar installer can provide you with information that is specific to your home, energy usage and system design.