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.
It may cost several thousands of dollars to install solar panels in your home, but you don't have to foot the bill on your own. Thanks to various contributions, rebates and tax breaks from the federal and state governments, as well as regional energy companies, you might only need to find about 10-20% of the actual cost of installing your new solar power system. When you consider this, an investment of 2000 to help you save 200 dollars every year doesn't look so bad, and you could actually be in pocket after about 10 years.
Also, many experts agree that decreasing resources mean that there is likely to be a rise in the cost of energy over the next 5-10 years. Which means those that have already installed solar power systems will be saving even more money, and making an even greater return on the money they invested.
You might be wondering what would happen if you decided that you wanted to move before you'd recouped the money you invested in your solar panels? As your buyers will benefit from the same energy savings, they are likely to pay more for your house, so you could still see a healthy return. The government and other organizations are literally falling over themselves to give you the money you need to install solar panels. So whether it's purely for the environmental benefits, or because you like a good investment, there's never been a better time to switch to natural energy.
