Are Solar Panels Worth It?

In recent years we have seen some of the effects global warming can have on our planet.

This has stirred governments worldwide in to taking the necessary steps to becoming more environmentally friendly in an attempt to save our planet.

There are plenty of ways to be more eco-friendly, one being using solar panels to generate electricity.

More recently we have seen a boom in the number of companies competing to install $24,000 solar panel systems on your roof completely free of charge for 25 years.

As you may already suspect, these fat cats aren't just overly concerned about the health of the environment.

What they're actually after are the government introduced incentives they will receive for doing this.

Feed-in-tariffs or Fits are worth between $1400 – 2300 per year to the installers and since you have signed a 25 year contract to house their panels, that means a lot of profit for the company involved.

This doesn't, however, mean that it is a bad offer. If you can't afford the initial cost of purchasing and installing the solar panels yourself then this is a great alternative to save some cash, especially in the current financial climate.

All that's required on your part is the signing of a contract allowing these companies to install their solar panels on your roof and in return you save 30% of your current bill.

This number can be significantly increased by simply changing some of your daily patterns (using your washing machines etc. during the day).

The companies will install the solar panel systems, monitor and maintain them and insure them against theft or damage.

All that's required on your part is a signature and some patience while the firms install the solar panels, which usually takes a couple of days.

If, however, you have the necessary funds to purchase the panels yourself, they may well be one of the greatest investments you ever make.

Not only will you benefit from the cheaper energy bills, you will also pocket the lucrative Fits yourself.

The systems will pay for themselves within 10 years and will pocket you a whopping $56,000 over a 25 year period through Fits alone.

That number will be considerably increased through savings on energy costs. Unused energy can also be exported back to the grid for payment (the amount differs depending on your location).

You will also substantially decrease your carbon footprint and play a major role in protecting our planet.