Solar savings for homeowners
The financial benefits of switching to solar
Making the move to solar means saving money and making the right choice for a greener planet. Once you’ve made the transition, your investment will pay off for decades to come.
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Reduce your energy bills
Any power produced by your solar panels is power you don’t need to purchase - it’s that simple.
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Increase the value of your home
Solar panels boost your home’s value, just like a new kitchen, bathroom, or remodel.
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Benefit from tax incentives
Many governments encourage investment in solar energy by offering tax incentives.
Solar economics
Key advantages
With the sun as an abundant energy source, solar offers a clean and dependable energy solution. Let’s explore the key advantages of solar energy for homeowners.
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Lower electricity bills
As soon as your solar panels are installed and your system is turned on, you start generating electricity from the sun. This means you buy less electricity from your utility company, which in turn lowers your electricity bill.
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Securing your power supply
Imagine having uninterrupted electricity, even when the grid faces disruptions. With your self-generated solar energy, and the addition of battery storage, you can secure a consistent power source, no matter the weather or the hour.
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Contributing to a greener world
Every watt your home's solar panels produce decreases your reliance on energy from polluting fossil fuels. Installing solar panels won't single-handedly solve the problem, but it's a meaningful step you can take today to support a larger cause and adopt a more sustainable lifestyle.
Ready to go solar?
Finance options
Did you know that almost 80% of people that switch to solar energy do so with their own capital? This is where local incentives can help. Financing options are available to fit any budget, including tax incentives, solar loans, leases, or power purchase agreements (often called PPAs).
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Tax incentives
Getting solar panels for your home is becoming more affordable, thanks to various governmental tax incentives.
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Solar loans
While paying for your solar panels up front is great for saving and quick energy bill reductions, it might not be possible for everyone. That's why some homeowners choose to get a loan to help pay for their solar panels.
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Leases and PPA
Homeowners can lease solar panels or enter into a Power Purchase Agreement (PPA), where you pay for the electricity generated by the solar panels
Finance FAQs
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The average payback period for a solar panel installation can vary based on factors such as location, system size, energy consumption, panel technology and available incentives. On average, payback periods range from 5 to 10 years. This means that after this period, the cumulative savings on energy bills typically offset the initial investment.
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The amount you can save on energy bills depends on your energy consumption, the number of solar panels you have, and local electricity rates. On average, homeowners can save anywhere from 20% to 70% on their electricity bills with solar panels.
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There are several financing options for solar installations, including solar loans, solar leases, and Power Purchase Agreements (PPAs).
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Many governments offer incentives, tax credits, and rebates to promote solar energy adoption. These incentives can significantly reduce the upfront cost of installation. Common incentives include tax credits, rebates, and net metering programs.
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Studies have shown that homes with solar panels tend to have higher re-sale values compared to non-solar homes. The exact increase in value varies, but it's generally observed that solar-equipped homes have an edge due to the potential for lower energy costs and environmental benefits.
Read more here.
Connect with your local Maxeon Partner installer
Take the worry out of your solar decision