They are popping up all over the place. In neighborhoods across the country, solar panels are appearing on slanted roofs, bringing the promise of inexpensive green energy for homeowners. But as the use of solar panel systems increases, there is one question that often remains for those wondering whether solar is right for them: Is it worth the expense?

The answer, however, can be more complicated than just a simple yes or no. With solar panel systems costing thousands of dollars, each homeowner must assess their situation and decide if the numbers work for them.

In the long run, though, many homeowners will find that a solar panel system will more than pay for itself.

Beneficial Circumstances

Before even considering the financial benefits of a solar setup, owners need to assess whether their home can sustain a solar panel system. This process includes looking at the angle of the roof, the direction the house faces and the general sunlight expected in the area.

The reality is that some states are more sun-drenched than others, and homeowners should take that into account when looking into a solar setup. In much of the United States, however, the circumstances are positive for solar energy. These beneficial circumstances have led to a huge increase in popularity of the systems over the past decade.

“These are not just solar enthusiasts anymore,” says Tom Kimbis, vice president of executive affairs for the Solar Energy Industries Association. “The vast majority of residential installations — by a long shot — are done because solar is affordable and it’s saving money.”

Show Me The Money

Once a home is found to be conducive to a positive solar experience, then the question of expense versus. return on investment can be answered. Again, for each homeowner the math will be different. There are a number of factors in play, including:

— Buying or leasing a system

— State and local tax benefits

— Current electricity costs

— Age and state of the house’s roof

Each of these factors must be accounted for when measuring the return on a solar panel system investment. Once the cost is determined, it is possible to find when the benefits of a system will outweigh the costs.

For those who buy a system, tax benefits can be higher, and other incentives exist to lessen the financial burden. Combined with potential savings of 70 percent or more on monthly bills, the cost of a solar panel system can be recouped in just a few years.

For those who opt to lease a system, the out-of-pocket cost is small or nonexistent. However, some of the potential financial benefits may be sacrificed when you choose to lease. In the end, though, the long-term savings on power bills will reap benefits for the homeowner immediately and will continue forever.

Those who make the decision to go solar are increasingly happy with their choice, both as stewards of the environment and as homeowners investing in their future.

As stated earlier, each homeowner must assess whether solar is right for them, but for most people, a solar panel system is worth the expense.

If you’d like to find out how installing solar panels on your roof can help you drive your electric bill down to zero, contact us today for a free quote.