Many people choose to invest in solar panels for environmental benefits. Solar power is a clean and renewable source of energy that doesn’t cause harmful pollution like fossil fuels. By using solar panels, you’re ultimately helping to improve air quality, reducing water usage, and slowing down the effects of climate change.
However, you may still be wondering if the long-term benefits of solar panels are worth the initial investment. Most of the cost for a solar panel system will go toward the equipment and installation. The solar module, inverter, metering equipment, and various other components will be the bulk of your costs. Regular maintenance is also important to include in your considerations, as well as the cost of replacing inverters and batteries (if installed), which generally have a lifespan of several years.
Despite these initial costs, solar panels will likely be a great long-term investment for many homeowners. The obvious cost benefit comes from saving money on your energy bill. It’s estimated that the average home can save anywhere between $10,000 and $30,000 in energy bills over the lifetime of a solar panel system. The exact amount depends on a number of factors, including the amount of sunlight your home receives and local energy rates.
Government incentives such as tax credits are another factor that can make solar panels well worth the investment. Residents in Des Moines may be eligible for tax credits of up to 30% of the solar panel system’s cost. More information about the specific programs in Iowa can be found on the Database of State Incentives for Renewables & Efficiency website.
Finally, you might consider solar panels as a good investment for your home, as you would any other renovation project. With more people seeing the value of solar energy, your home will likely increase in value after installing a system.