In the face of rising energy costs and climate concerns, more US homeowners than ever before are considering making the full or partial switch to solar energy.
However, there’s one question that these homeowners are all asking: is solar energy expensive?
The truth is that while solar energy generates long-term savings, there are upfront costs you’ll need to prepare for. Still, the tax incentives and low energy costs do make solar energy an enticing option.
Read on to learn more about the cost of renewable energy in 2021.
The Upfront Cost of Solar Energy
How much you pay upfront to go solar will depend on a variety of factors. The biggest factor depends on how many watts you’ll need, which comes down to the amount of energy you use and the amount of direct sunlight your property receives.
Solar panels tend to cost about $3 to $5 per watt. As solar technology improves, the cost of solar panels tends to decrease. If you’re planning to make a full transition to solar, this can lead to about $15,000 worth of solar panels (including the cost of labor).
That said, you will receive a federal tax credit ranging from about $3,000 to $6,000 for going solar. Individual states may also offer additional tax incentives to sweeten the deal.
Is Solar Energy Expensive to Use?
What is the solar energy cost once you’ve paid the upfront costs? Is it expensive to use solar energy vs fossil fuels?
Now we’re talking about one of the biggest reasons that people go solar. Using solar energy can reduce your energy bill by hundreds of dollars per year. The latest solar technology can last up to 20 years, netting you thousands of dollars in savings in that time.
The reality, however, is that how much you save will come down to where you live. If you can’t go full solar due to low sunlight, you’re naturally going to save less. Discover more on the cost of solar energy.
Is Solar Energy Expensive to Maintain?
What about the cost of maintaining your solar panels? Is this expensive?
As we mentioned earlier, the cost of solar panels tends to decrease over the years. Solar panels are durable and there are plenty of measures you can take to maintain them on your own.
If you do have to call in the pros to repair or replace solar panels, don’t sweat it. You can expect to pay a few hundred dollars for a major repair or replacement job, which is comparable to the cost of maintaining traditional electrical equipment.
The Solar Energy Cost Is Worth the Benefits
It’s not surprising that so many homeowners ask, is solar energy expensive? Fossil fuel proponents love to emphasize those upfront costs, often exaggerating them or leaving out opportunities for saving. In the end, the solar energy cost is worth the benefits–and the savings.
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