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Typically, solar panels have a lifespan of 25-30 years, gradually declining in efficiency over time
In most cases, adding solar panels increases your property value. Multiple studies have shown that homes with solar energy systems sell for more than homes without—it can add as much as $24,000 to the resale value! However, your property value will only increase if you own your solar panels, not if you’re leasing them
Solar energy is renewable, sustainable, and clean. It can help reduce your energy bills, decrease your carbon footprint, and increase the value of your property.
If you connect your solar panel system to the grid, you might be able to benefit from net metering—one of the best solar incentives for home solar. Your utility company essentially works like a bank account for all the energy your solar panels produce in a given month.
When the sun shines, your home first takes as much power as it needs from the solar panels. If the panels generate any excess energy, it gets sent back to the grid. In return, your utility gives you credits. When the sun isn’t shining and you need grid electricity to power your home, you won’t have to pay for it until those credits run out
Unless your solar energy system includes battery storage and you're fully off the grid, you'll still receive a bill from your utility. However, you can dramatically reduce your bill—or even cut it down to $0—with a solar panel system that matches your energy use
No. If your solar panel system is connected to the grid, it will shut off during a blackout to prevent emergency responders and electricity utility repair people from being injured by your panels sending power back to the grid. If you want to keep your lights on during power outages, you’ll need to pair your solar panel system with a solar battery
Truthfully, solar panel systems generally require little to no maintenance over their 25-to-35-year lifetime. Solar panels include durable tempered glass that can withstand most weather conditions and only require infrequent cleaning. If there’s a technical or mechanical issue, most equipment manufacturers include warranties that vary from 10 to 40 years, although terms depend on the company.
The most significant solar incentive is available to homeowners nationwide—it’s the 30% federal investment tax credit (ITC) which allows you to deduct 30% of the cost of your solar energy system from your taxes. Some states offer additional tax credits, and certain municipalities and utilities offer other incentives, like cash rebates.
It depends on your reason for going solar. If you're interested in maximizing the financial returns of your solar energy system, buying your solar panel system is the best choice, either with cash or a loan. If you prioritize a low upfront-cost, maintenance-free way to reduce your energy bills and help the environment, you may want to consider a PPA.
We typically don’t recommend solar leases because they often lead to the lowest savings. And, with either a lease or a PPA, you won't be able to take advantage of financial incentives. But truly, it’s a personal choice that depends on your specific circumstances. If you're considering a solar lease or a PPA, do your research and read the agreement carefully before signing.
No, as long as you're connected to the grid, your solar panel system doesn't necessarily need a battery. Your excess power will flow back to the grid, and you can draw from the grid if you need more electricity than your panels generate.
If you want backup power during outages, you will need a battery. And, if you don't have access to one-to-one net metering, batteries can significantly increase your savings with solar, making them very worthwhile
In 2024, the average cost to purchase and install solar panels for a 2,000-square-foot home ranges from $18,000 to $20,000 before applying tax credits and other incentives.
When you break these figures down, that equates to $2.75-$3.35 per watt installed.
However, your cost will vary based on all the factors listed above.
Once you apply the 30% Federal Solar Tax Credit and other incentives, the upfront cost should drop to between $12,000 and $14,000.
You may also enjoy further savings from state, local or utility company incentives.
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