Are Solar Panels Still a Good Investment in 2024?

It’s no secret that solar energy is an investment, which has led many home and business owners to wonder if the high upfront cost is worth it. At Solar Energy Solutions, we certainly think so! Electricity rates are getting out of control in Indiana, Kentucky, Ohio, Virginia, and Illinois, and solar panels can help by allowing you to generate your own. Plus, electric grids and weather patterns are becoming less reliable, making backup power with a solar battery a must for every home and business.

Solar Energy Solutions installs residential, commercial, and agricultural solar systems to help families and businesses in our area take control of their energy costs with renewable solar power. Keep reading to learn why we think solar power is a good investment in 2024. 

Why Solar Panels Are Worth it in 2024

Solar panels are a smart choice for any home or business and provide several benefits throughout their 25+ year lifespan, such as:

Energy Savings

Investing in solar panels provides long-term financial benefits. Not only will they help to reduce your electricity bills by generating power from the sun, but they’ll also protect you from ever-increasing electricity rates.

The average solar payback period (the amount of time it takes for solar panels to pay for themselves) is between 12-15 years but as little as 1.5 years for REAP-eligible farms and small businesses. For larger commercial scale projects, payback period will be more dependent on the size, utility rates, and incentives for the project. Once you break even on your cost for solar installation, your energy savings will only increase.

Reliable Power, Away From the Grid

Solar panels, especially when paired with battery storage, give you energy independence. In the event of a power outage, most grid-connected solar systems will automatically shut down as a safety protocol for frontline workers. However, with added battery backup, your solar system will go into “off-grid” mode and allow you to keep the lights on when you need them most. 

Solar Tax Credit & Incentives

2024 is a great year for solar installation because incentives are the highest they’ve ever been in Indiana, Illinois, Ohio, Virginia, and Kentucky. Residential solar incentives include the federal solar tax credit that covers  30% of the total cost of installation. The solar tax credit is also applicable for commercial installations, accelerated depreciation, and many agriculture solar projects qualify for REAP grants

When it comes to shortening your solar payback period and making solar panels more affordable, you can count on Solar Energy Solutions. We stay up-to-date on what incentives are available, and how you can claim them. 

Meet Your Electrification Goals

As public policies and climate change are increasingly pushing homes and businesses to go all-electric, solar panels become even more valuable. Once you install solar on your property, you’ll instantly be able to power your electric appliances basically for free, making it crucial in the electrification process.  

NABCEP-Certified Solar Panel Installation 

Solar energy is worth it in 2024, however, it’s important to work with a knowledgeable and highly-trained team to get the most out of your solar panel installation. Solar Energy Solutions has an extensive engineering, business, and construction background that allows us to find the most reliable and long-lasting solar systems for homes and businesses in the Midwest. Plus, our solar installers hold industry certifications to make sure we’re always on top of the most current best practices. Are you ready to see what solar can do for you?

Go solar in 2024 with Solar Energy Solution! Call 877-312-7456 or contact us online to get started. 

Schedule your free solar assessment today. Call 877-312-7456 or contact us below to get started.