Solar Panels- Are They Worth The Cost?
Are solar panels worth it? A $5 billion Solar City’s investment raises the question of how much it costs the average homeowner in western New York to install a set of solar panels at home. First of all solar panels may not be for everyone because there are some requirements for having them installed. You either have to have land to put the panels on or a roof that is capable of handling their size and weight.
Yes, going solar is a beneficiary to the environment since it’s the act of producing electricity through the rays of the sun, but does that make it a good choice for you?
The most important reason why people switch to solar is for the inevitable ability to save money, but you may wonder how it does.
The fledgling solar industry deals both with the residential and commercial markets. Due to the initial cost of installing a solar power system – the solar panels, wiring, and electronic controls – the commercial market is the leader now, but the residential market seems to be slowly catching up.
Diane Piegza, Vice President of Corporate Communications for Uncle Bob’s, said the company is installing solar panels at 15 of its New York properties, and 30 in other states. “The incentives do play a role at this point in time, as far as the installation, but the savings that we are seeing on the back side have been tremendous,” Piegza said.
Residential solar electric systems on average, cost about $20,000, but Dave Stapleton, President of David Homes, said in western New York, state and federal subsidies cover about half the cost, bringing it down to about $10,000 in out-of-pocket costs.
“Right now, it’s about the consumer making a choice. Do you spend a little bit more on granite counter tops or something else as a finish on your home? Or do you spend it on something that is really going to pay for itself in the long run?” Stapleton said.
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