Are Solar Panels a Good Investment?
There are very few investments that offer guaranteed returns.
Even “safe” investments like higher education don’t always deliver the types of returns you’d expect. Just ask the countless unemployed graduates drowning in student loans.
But when clients ask us whether or not solar panels are a good investment, our response is always the same:
Solar energy is a risk-free investment that delivers guaranteed returns – starting on Day 1 and for the next 25 to 40 years.
Why Solar Is a Risk-Free Investment
It’s important that you understand how solar energy works. Not the mechanics – but the overall process.
You install solar panels on your rooftop. Your utility bill goes down instantly, and you enjoy immediate savings.
If you own your solar panels, your installation has a predictable payback period. It’ll take an average of 9 years for your electricity bill savings to exceed the upfront cost of your installation (FYI – it only takes 7 years with SavOn Solar).
Once your system is fully paid for, you enjoy free electricity for the remaining lifetime of your solar installation. And remember that a well-installed system can last 40 years or longer.
With solar energy, there are no surprises. No hidden fees. The sun always remains the same price forever – i.e. 100% free.
Actually, there is 1 unknown variable.
It’s impossible to know how high grid electricity prices will rise in the future. In 2013, for example, SDG&E raised its rates nearly 40% for some residential customers. Maybe next year, it’ll be 20% or 50%. No one can say for sure. The only thing that experts agree on is that utility rates will keep going up year after year.
But guess what. Every time grid electricity becomes more expensive, the ROI of your solar investment also goes up. This is because your solar panels protect you from electricity price hikes – today, tomorrow, and 40 years from now.
Solar energy offers other types of returns as well:
Increased property value. According to the National Renewable Energy Laboratory (NREL), for every $1 in annual electricity bill savings, the value of your home goes up an average of $20.
Reduced carbon footprint. By installing solar panels on your rooftop, you also reduce your home’s carbon emissions. This makes the planet cleaner, greener, and more sustainable – priceless.
Note that when you lease your solar panels, you also enjoy instant savings and carbon reductions. The ROI is not as high as it is with true solar ownership. But with little to no upfront costs, solar leasing carries of risk of nearly 0%.
Are Solar Panels a Good Investment for You?
When it comes to investments, it doesn’t get much better than solar power. In fact, not even Wall Street can consistently deliver the types of returns that a well-installed photovoltaic system offers.
But Southern California is committed to making your solar investment even more secure. Thanks to local, state, and federal incentives, the upfront cost of going solar has never been more affordable than it is today.
Even better still – it costs you absolutely nothing to begin exploring your options. Simply request a free solar quote from us today, and you’ll know in advance:
How much your solar installation will cost
How much it will save you every month
How long it will take for your system to pay for itself
Thereafter, you can decide for yourself whether or not solar panels are a wise investment for you, your family, or your business.
Just click here to request your free SavOn Solar inspection today.