Solar Panels: Costs

Solar panels may seem to be expensive, but what about in the long run?

Do solar panels make you money? Or do they cost more than you would pay with fossil fuels? Image source: Center of the American Experiment

Solar panels can be expensive, but you actually make money in the long run. A lot more than you think...

How much do solar panels cost?

You have to pay about $3.50 per watt. So, in a 5 kilowatt system, you’d pay about $15,400 (before tax credit/before money back for helping the environment). After tax credit, it costs much less: about $10,800—almost $5,000 less than without tax credit.

How much do you save from getting solar panels?

You can save about $55,000 in 25 years! So, even though solar panels may cost a lot to buy and install, you save a lot of money in your lifetime.

You probably are thinking, Wow, I should get solar panels! I can earn $55,000 in 25 years. Well, you'd be...right. Help the environment (and help yourself to thousands of dollars) by switching to solar panels.