Solar use to be exclusive to that one beautiful house at the end of your block…You know which house I’m talking about. In 2019 going solar is looking like a wise investment. The cost of solar panels has dropped almost 50% in the last ten years. The benefits of going solar don’t just stop at planet health, they also instantly increase your properties value, you’ll recuperate from the cost of going solar rather quickly, and if you go solar this year, you can take advantage of the federal tax reimbursement at its peak. The federal tax reimbursement is currently at 30%. It is going to change to 26% in 2020 and 21% in 2021. By 2020 you will no longer receive this tax credit. Not to mention that those stats are only for states that can reap this benefit. For a basic installation at usual power consumption, it’s about $16,000-$18,000 not including the cost of converting from gas power to all-electric power. Solar panels will cover energy during the day, but at night you have to repurchase power from the grid. With net metering, utilities will give you a credit you contribute to the grid which you then use those credits to buy the energy you need, and by then the cost usually balances out. However, some utilities charge more during peak hours when the demand for electricity is higher.
What about getting batteries? Aww, good question! Well, it turns out that there are batteries on the market now, but their usefulness is somewhat limited. Currently, they are only a wise investment if you live in a blackout prone area. The batteries aren’t sought after mainly because in the next five years the upgraded batteries we will see will be much better than the ones we could use today. Although you can get a bunch of cells to avoid having to buy from the grid, you are still attached to the grid somehow. Right now, batteries are pretty much an upsell that benefits the grid more than you’ll benefit from them. All in all, it’s really up to you whether or not you want to go solar. It gives back to the environment and a little bit of extra cash in your pocket.
How do you feel about going solar? Let us know in the comments below. :)