Are Solar Panels Good Idea

Also known as photovoltaic panels they are mounted on the roof of a house and use sunlight to produce electricity.

Are solar panels good idea.

It usually costs 15 000 to 20 000 after tax credits and can reduce your electricity bill by 70 to 100 percent depending on the size and. Even the incentives are designed for those with a decent level of income. There are multiple variables to consider when seeking out the best solar panels on the market. Solar panels definitely vary in quality.

While certain panels will have higher efficiency ratings than others investing in top of the line solar equipment doesn t always result in higher savings. It s important to have a basic idea of how the panels work as well. For example the federal tax credit of 30 is attractive only to those with the income to generate a tax liability high enough to take advantage of it. Solar installations are realistically available only to homeowners who are financially secure and have good credit.

Unsurprisingly california leads the nation in residential solar capacity but some of the others in the top 10 may surprise you. Buying your solar electric system outright is best. Thanks to substantial electricity bill savings the average american homeowner pays off their solar panel system in seven to eight years and sees an roi of 20 percent or more. Solar energy in our current situation is very expensive.

So prices have to be dramatically reduced before it will become a good energy resource.