Do Solar Panels Pay For Themselves

Depending on the system s efficiency and the amount of energy being used solar panels can pay for themselves in as little as four years.

Do solar panels pay for themselves.

Get a free consultation. However the time it will take to reach the payback time or the earnings that can be obtained are deeply varied and site dependent. There s no denying that solar panels are a long term investment but given the potential for both saving money on energy bills and earning from the energy you put back into the system solar panels can actually pay for themselves over a period of time. Below are the main factors that influence this timescale.

It depends on where you live how much energy you use and how much your utility bills were prior to installing you solar panel systems. Then through the average return it only takes four years to pay the remaining two thirds. Energy by choice is a trusted solar installer with over a decade of experience serving long island customers. To schedule a free consultation please contact ustoday.

What is solar panel payback period. For example if an average solar panel installation costs 18 000 incentives will lower this price by a third. However there are many factors to consider. For a typical home the cost of your system can range from 20 000 to 30 000 to purchase and install.

Yes solar panels will be able to pay for themselves within their lifespan. Increased utility electricity rates and lower equipment costs are making it easier and less expensive to for homeowners to own rather than lease their solar panel systems.