If you find yourself asking this question, it likely means you are already considering installing a solar electric system in your San Antonio, Austin or Denver home. But solar panels are a big investment, and of course you want your investment to last.
So, after your solar installers clean up the last of their tools and leave you and your family to your energy savings, how long will those solar panels last?
Decades of Energy Savings with Solar Energy
As the technology involved in solar photovoltaic (PV) systems has advanced, so has the life expectancy. Most solar panels come with a warranty covering 25 to 30 years, but a well taken care of system can last upwards of 40 years! Let’s take a look at just how much money you can save in energy costs over the lifespan of your solar electric system.
The Numbers of Going Solar
When you look at the total cost of going solar, it can be intimidating to see the sticker price. But when you take into account available federal and state incentives, the upfront cost looks much more manageable — especially when you are investing is a solar PV system that will last for decades.
Let’s say for argument's sake that you are looking at a $15,000 6.0 kWh solar PV system for your San Antonio home. For CPS customers, CPS offers a $0.70 per watt rebate for a system that utilizes locally manufactured materials (with a cap of up to 50% of the initial cost of the system). So, for a 6.0 kWh system, the math is: $0.70 x 6,000 watts = $4,200 in savings. This drops your initial cost to $10,800. Then factoring in the federal tax incentive, you will save 30% of the cost of your system on your taxes come April. For a now $10,800 system, you save an additional $3,240. That brings the net cost after tax season down to just $7,560 (and we haven’t even gotten to your energy bill yet).
Long Lasting Solar Energy Savings
Now that we have a view of what the upfront cost of a solar PV system could be ($7,560 — though you can get a more exact number of what your home solar system will cost with a free CAM Solar Consultation), we can calculate your energy savings and how long it would take for your solar investment to pay off. With the average Texas home saving $100 per month on their energy bill, that adds up to $1,200 in savings per year. So to fully pay off the $7,560 upfront cost, it will take only 6.3 years. That means for the remaining 23.7 years of your 30+ year system, your home’s solar system is saving you at least $1,200 in yearly energy costs that goes straight into your pocket (that’s $28,440!)
Residential Solar Installation For Lasting Savings
With a long lasting residential solar PV system installed by the professionals at CAM Solar, you can rest easy knowing you’ve made a wise investment. Not only will your solar system pay for itself, but you can also expect benefits like:
Protection from energy rate spikes
Reduced risk of power blackouts
Decreased carbon footprint
At CAM Solar, we want you to have every question answered before you pull the trigger on your residential solar electric system. With all of the technical jargon, and the complicated numbers, you deserve to be able to sit down with a knowledgeable professional to help you make the best decision you can for your home. If you are considering going solar in San Antonio, TX, Austin, TX, or Denver, CO, the experts at CAM Solar can walk you through the process, including all the rebates and incentives you qualify for to keep your upfront costs as low as possible.