When most home owners start looking into the idea of installing solar panels in their property, they very rarely have any reservations about using natural energy to power their home. The thing that usually stops them from going ahead and installing this type of system is the cost. Even with the knowledge that they will be doing their bit to help the environment and saving money on their annual energy bills, in the past this wasn't enough to outweigh the significant initial investment they would have to make. Has anything changed?
The cost of installing a solar power system in the average home is likely to be in the region of $15,000. If the returns for using more solar power were significant, this would probably seem like a really good idea despite the high price tag. However, this average sized home can probably only expect to reduce their annual energy bill by a couple of hundred dollars. Which means it would take a long time before they saw a return on their initial investment, But when you look at some of the other figures involved, it's actually a different story.
You might only be looking at saving around $200 a year, but when you take into account the 30% tax rebate you can get from the federal government, the additional tax breaks you will get from the state government, and the funding that many of the energy companies are offering if you make the switch to natural power, the actual cost of having solar panels installed is going to be nothing like $15,000. In reality, a figure of around $2,000 is probably more likely, and with this greatly reduced investment delivering the exact same savings, it's easy to see why more and more people are taking an interest in solar power.
Plus, energy isn't getting any cheaper. With much of our power still coming from resources that will eventually run out, traditional energy prices will be a lot more expensive in ten years time, than they are today. All of which means an even greater return on your solar power investment as your savings increase.
Even if you sell your home before you've recouped your investment you're still likely to get some of your money back. Properties that use natural energy sources to save on fuel bills are an attractive proposition for buyers, who will pay more for them. Installing solar panels isn't going to make you rich, but when you compare it to other investments the figures stack up pretty well. Plus, as well as saving money on your energy bills, you will be helping to make the world a better place too.
The cost of installing a solar power system in the average home is likely to be in the region of $15,000. If the returns for using more solar power were significant, this would probably seem like a really good idea despite the high price tag. However, this average sized home can probably only expect to reduce their annual energy bill by a couple of hundred dollars. Which means it would take a long time before they saw a return on their initial investment, But when you look at some of the other figures involved, it's actually a different story.
You might only be looking at saving around $200 a year, but when you take into account the 30% tax rebate you can get from the federal government, the additional tax breaks you will get from the state government, and the funding that many of the energy companies are offering if you make the switch to natural power, the actual cost of having solar panels installed is going to be nothing like $15,000. In reality, a figure of around $2,000 is probably more likely, and with this greatly reduced investment delivering the exact same savings, it's easy to see why more and more people are taking an interest in solar power.
Plus, energy isn't getting any cheaper. With much of our power still coming from resources that will eventually run out, traditional energy prices will be a lot more expensive in ten years time, than they are today. All of which means an even greater return on your solar power investment as your savings increase.
Even if you sell your home before you've recouped your investment you're still likely to get some of your money back. Properties that use natural energy sources to save on fuel bills are an attractive proposition for buyers, who will pay more for them. Installing solar panels isn't going to make you rich, but when you compare it to other investments the figures stack up pretty well. Plus, as well as saving money on your energy bills, you will be helping to make the world a better place too.
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