A solar panel array costs a lot of money. At least that’s what people used to say a few years ago. While that mentality is still around today, the reality is that the prices are going down faster than most experts can even tell. With new materials and manufacturing methods on the horizon, it’s safe to assume that by 2020-2025, we will see a lot of homes with solar panel roofing.
But can you really save money with new solar panels today? This is not an easy question to answer, and it will depend a lot on your lifestyle and expectations.
At first, buying solar panels and having them installed on your home will be expensive. It can cost more than $25,000 depending on the size of your home, the power you need and the brand you are using. Fortunately, there are tax reductions, discounts and other benefits available, but the price along with the installation won’t change too much just yet.
The real benefit of having solar companies in Denver Colorado install solar panels will come in the long run. With a basic, 5kW system you can not only save a lot of electricity, but also have your solar panel array feed energy into the grid when you’re not using any of your appliances or electronics. Combined with the maintenance-free construction of your solar panel array, this translates in tens of thousands of dollars worth of free electricity over the life span of your system, which makes its purchase almost like a lifetime guarantee of low-cost energy.