Are solar panels a good investment?

According to the Consumer Price Index, electricity prices were up 2.8% for the 12-month period ending in March 2025. Depending on its size and your energy needs, a solar panel system can reduce or eliminate your electric bill. Residential solar panels allow you to pull less energy from the grid.

Are solar panels worth the tax credit?

But tax credit or not, solar panels are worth it for the vast majority of homeowners. If you own your home, pay decent electricity rates, and have a suitable roof, the investment will still likely pay off handsomely over time. The key is doing your homework: Get multiple quotes, understand your financing options, and don't rush into any decisions.

Is going solar worth it?

If you don't have high energy costs or your state makes it harder to go solar, it might not be worth it financially. Even after weighing all the pros and cons, the decision to go solar is a highly personal one.

Are solar panels worth it?

For example, Alaska residents see fewer sunny days per year compared to Florida, where sunny days are above the national average. If you want to store energy from your solar panel system so you can power your home at night, solar batteries are a must. But they're not cheap.

Are solar panels worth it if you move?

If you think you might move before you reach your payback period, purchasing a solar panel system may not be worth it. Instead, consider community solar, which doesn't lock you into a long-term investment. However, adding a solar panel system can still benefit you financially if you move.

Are solar panels a good option for your home?

Residential solar panels allow you to pull less energy from the grid. With the addition of solar batteries, solar panels could make your home self-reliant and independent from the electric grid. Solar batteries store energy created during sunny hours, allowing it to be used at night or on cloudy days.