Author: Coleen Smith
Thinking of going solar? More and more homeowners are doing it. We all know it’s good for the environment, but is it a good economic decision?
The difference, financially speaking, of installing a solar energy system for your home, is whether you pay now or later. To purchase a system and have it installed, you have to come up with the money now. You’ll save on your electric bill going forward, and eventually you’ll break even. After that, you just have free electricity, except for the occasional maintenance of your solar system.
The break-even time varies. You have to go through the process of estimating for your specific home. There are online tools that will help you determine how big a system you’ll need, how much it will cost and how much electricity it will generate. Be sure to factor in the incentives available.
