![]() You’ll get the most out of this guide if you first understand if you’re a good fit for solar. Will solar work for your home? 4 things to keep in mind Just keep in mind that your own costs and savings will ultimately depend on several factors, including where you live, how much you spend on electricity, and your home setup. Solar is a long-term investment – shoppers on the EnergySage Marketplace typically break even in about 8-9 years. This is a hefty price tag, but when you consider how much you otherwise would’ve spent on electricity, it’s easy to understand why millions of homeowners have gone solar. On a cost-per-watt ($/W) basis, that’s about $2.95/W before the tax credit. cost an average of $20,650 after accounting for the federal solar tax credit (more on that later). The best way to lower (and in some cases even eliminate) these costs? Install a rooftop solar panel system. Over 25 years, that adds up to $57,966 (assuming 2.5% annual inflation). household spends about $1,697 annually on electricity, according to electricity cost and consumption data from the Energy Information Administration (EIA).
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