Buying Solar Panels For Your Home

The past decade has engendered the era of solar panels for home use homes and businesses across the country are transitioning away from a fossil fueled electricity grid towards a clean energy economy necessitated by emissions reduction targets in a time of global climate change.

Buying solar panels for your home.

Why solar panel cost should not be your only consideration when buying solar panels for your home. If you buy a solar panel system you own the system either outright if purchasing with cash or after repaying your solar loan. When you own the solar panels you remove the solar lease from the home sale equation and boost your home s market value. Buying a solar energy system will likely increase your home s value.

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. The most important difference between buying solar panels and any other purchase is that solar panels last 25 30 years. To see if the home depot offers grid tied solar power installation in your area check our solar power installation site or call 866 945 9211. This is a long long time and you will need customer service over all that time.

Cash buying your solar electric system outright is best. Off grid solar systems provide power to a few devices such as a tv radio refrigerator or lights on rvs boats or at remote locations with no access to electricity. A recent study found that solar panels are viewed as upgrades just like a renovated kitchen or a finished basement and home buyers across the country have been willing to pay a premium of about 15 000 for a home with an average sized solar array. They have a scratch resistant and anti reflective coating to help keep the solar panel in good shape for many years.

Some solar lease contracts include an early buy out option allowing you to buy out the remainder of the lease and own the solar panels outright. 5 minutes last updated on august 18 2020. Nature power solar panels take the sun s energy and turns it into electric current. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value.

If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands. If you lease the system or sign a power purchase agreement ppa a third party owns the solar panel system. How are you financing your solar panel system. The main practical distinction between buying and leasing a solar pv system is in ownership.

Additionally there is. Solar energy costs 0 08 to 0 10 per kwh to produce on average depending on your location. Solar panels cost 1 77 to 2 20 per watt and a 6 kw solar panel installation for the average home costs from 10 626 to 13 230 after the 30 federal solar tax credit. Get free estimates from solar installers near you or view our cost guide below.