Is the Cost for Solar Energy Equipment Worth the Energy Savings You Get?


Quick Answer

The cost of installing solar energy equipment dwarfs the savings it brings, but actual savings vary greatly due to location, sun exposure and cost of energy from the electrical grid, states Seattle City Light. Solar panels differ from traditional systems by requiring a large initial investment that provides free energy.

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Full Answer

In the United States as of 2016, there are several programs offering incentives and tax breaks to reduce money a homeowner pays for installation. Taxpayers receive a 30 percent credit for the cost of installation from their federal taxes. Some states also offer incentives. Local power companies may also offer incentives, as installing solar panels reduces their need for building additional generating plants.

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