Considering return on investment (ROI) on any investment is a wise thing to do. Talking about solar panels, they do not come cheap and before investing in any solar panels, you should consider what value they give to the money you are spending. Here are some questions that you can ask your solar panel contractors in San Jose California to choose the best solar energy system for your home.
Return on investment earned through investing in solar panels is different from the returns earned from investing in stocks and bonds. Solar panels can produce free electricity for over 30 years; that means you will generate returns in the forms of savings.
What Are The ROI Options?
Photovoltaic solar panels offer a better average ROI than 30-year treasury bonds. Solar panels are known to produce electricity for over 25 years. For 25 years, you will not have to pay for expensive electricity bills and at an estimate, all your investment would be recovered in approximately 7 to 12 years. After that, it would be like earning a profit. You will be able to produce electricity for over 25 years without incurring any additional costs.
What More These Panels Will Offer Besides Generating Electricity?
You can use the energy generated from solar panels for different purposes. In some states, you can also sell the energy to the government (net-metering): California, Arizona, Utah and more. Furthermore, the value of your home increases without any additional taxes. There are minimal expenses so you get maximum benefits.
Does The Solar Industry Offer Some Financial Incentives?
As a household or business organization, you can take advantage of depreciation tax benefits, solar incentives, tax credits, loans, rebates and more savings. All these incentives come with just one investment on photovoltaic solar panels and the Solar Energy Inverter that converts Alternate Current into Direct Current.
What Are The Benefits Of Installing Solar Panels On Your Business Roof or Yard?
Any business has a profit objective. If you install solar panels for your business, your overall operational costs will reduce resulting in more profit. Besides this, tax laws in some states also allow for depreciation that increases the profitability of the business and also take into account the advantage over your competitors.
The returns you will make investing in solar panels will be consistent which is highly unlikely with other investment options. Besides this, the returns you make from other options are taxable, which is not the case with investing in photovoltaic solar panels.
Simple Solar Investment Payback Formula For California State
This formula gives you a rough estimate of payback time for a grid-tied solar system in the State of California. Battery systems logically need other formula.
Total System Cost ÷ Value of Electricity Generated ÷ Your Annual Electricity Usage = Payback Time
These are some of the return on investment options (ROI) for solar panels. If you are looking for the services of Solar panel installation San Jose CA, contact us now. We, Solar Trusted, (http://solartrusted.com/) are offering best USA built solar panels at best prices. If you want to know more about the return on investment options, contact us now and talk to our staff. We will guide you further and answer all your queries regarding the solar panels.