Fact: On average, solar pays for itself in under 10 years

Solar Home

Myth: I won’t live in the home long enough to repay my investment.

The Fallacy Explained:

According to the NY-SUN web site, “The return on investment on a solar installation is estimated to be less than 10 years on average, although it depends on several variables including the cost of your system, the incentives available to you, and the electric rate you pay. If you’re planning on owning your home for 10 years or longer, your home’s value could increase 20 times the amount you save on your energy bill. According to a U.S. Department of Housing and Urban Development (HUD) estimate, if you save $1,000 a year on energy, you could add approximately $20,000 to the overall value of your home (assuming you own your solar electric system).”

PS Thinking of going off-grid? According to CNN Money, “If you live in the South and already own solar panels, it could take you just under three years to make up the cost of the $3,000 Tesla Powerwall battery.”