Adding a solar power system to your home can save you up to 100% of your current bill. Systems have lifetime expectancies of up to 25 years.
Depending on your current cost of electricity the payback period is in many cases less than 5 years.
Buying a home with a solar power system translates into lower electricity costs. Solar panels will increase a home’s value on the market.
The utility companies are constantly raising the prices of up to 16% a year. There is no sign of traditional utility electricity prices decreasing while solar power prices have only gotten better and currently producing well under the cost of majority utility supplied electricity.
We can calculate how much electricity will be generated, and most importantly, at what price, to establish a fixed cost of electricity.
Solar panel manufacturers include a 20- to 25-year performance guarantee with their solar panels. The industry standard guarantees 80% performance after 25 years.
We know that the majority of homeowners choose to go solar because it makes good sense from a financial point of view. With that being said, the environmental benefits are also clearly worth mentioning.