Are Residential Solar Panels a Good Investment?

25 Mar Are Residential Solar Panels a Good Investment?

Like with any technology that is becoming more mainstream, many people have questions about solar power and whether it’s worth investing in themselves. There are many solar companies out there, and some have chosen to be misleading or vague. High-quality and knowledgeable organizations don’t have to use complicated jargon to convey the benefits of solar. The goal of this blog is to break down and demystify whether solar panels are a worthy investment or not.

How Much are Your Electric Costs?

Probably the biggest reason that people decide to explore alternative power options like solar is that they’re unhappy with their current bills. The energy company you use charges a rate for every kilowatt-hour of electricity that you use. In New England, we have some of the country’s highest energy rates, so there’s a good chance solar will be a good investment, but let’s break it down with an example.

To calculate the lifetime cost of your utility power bill. Find out how many kilowatt-hours you use a month on average (ex. 900). Next, multiply that by the rate of electricity in your area (ex. 0.12). Then multiply that by 12 for the yearly cost and again by 25 for the lifetime cost.

Example: 900x$0.12x12x25= $32,400

With this number in mind, you’ve got a much better grasp on your costs, allowing you to make a more informed decision. 

Estimate Solar Installation Costs

Costs will vary depending on the equipment, options, and solar contractor that you work with. The cheapest options out there may not be the most cost-effective in the long run. Investing in high-quality equipment and working with a reputable solar company is the best way to ensure long-term value from your installation. Our team at ACE Solar walks you through the entire process, making it easy to take advantage of incentives and have your new system working efficiently. 

Are They Worth it in New England?

For homeowners in New England, there can be some hesitation with solar because of our snowy winters. Surprisingly though, it makes a ton of sense to go solar in the Northeast because of the high energy costs that we mentioned. You don’t need to live in a sunny state in the west or south to benefit from solar power. States in New England typically offer more incentives for residents to go solar, making the transition more seamless.  

In Summary

There’s a good reason that you’ve been noticing more and more solar panels around town. They’re an amazing and environmentally friendly investment in your home’s future. Initial costs can intimidate some, but local incentives have now made it easier than ever to convert to solar. 

If you’re considering solar power, reach out to our team at ACE Solar. We are one of the top solar contractors in New England by dedication to cutting-edge technology and comprehensive processes. We leave no stone unturned when providing you with the options most suitable for your specific situation. 

Contact us today to get started!