How Long Does It Take My Solar Panel Investment to Start Paying Me Back?
One of the biggest reasons people often decide to go with solar energy is because they like the idea of getting free power from the sun. However, the cost of installation might have you wondering if you really end up saving money in the long run. It is true that you pay more for installation initially, but the investment will start paying you back eventually. How long this takes will depend on a few factors.
To figure out how long it takes before your installation pays you back, it is useful to know how much it costs in the first place. Prices can vary depending on your location, power needs, and property size.
Costs to Produce Energy
The savings from getting Honey's Air & Solar to install solar power in your Modesto home will be apparent once you look at the energy production costs. There are absolutely no charges to use the power that solar produces. A residential household has power bills that average up to about $111 each month. This means that you end up saving enough to pay off your solar panel installation in roughly six to nine years.
Solar Panel Duration
To figure out if it’s a worthwhile investment, it’s helpful to know just how long solar panels will last. Most modern solar panels will work without needing any major repairs for 25 years. So, once you pay off your panels, you are still getting over 15 years of free power for each installation.
If you are interested in saving money, consider Honey's Air & Solar. In addition to helping you with solar panel installation, our technicians can also assist with repairs and installations for heating and cooling systems. Give us a call today to learn more about what we can do for you.Tags: Solar Energy, Solar Panel Installation, Solar Panels