It won’t pollute our planet. However, it can be quite expensive to purchase solar panels installed through a firm. In the end, you must determine the financial implications of this option for your home improvement task.
The host discusses the financial aspects of the solar panel’s ownership in this clip. Installation costs were more than $40,000. He also had to get it financed and the total cost with interest would be over $66,000 after 25 years of payment. A government program paid $12,000 to offset some of the expenses.
While this may seem like a lot of money, it is worth the investment because he not only gets to power the property at no cost throughout the year, but he also has the option of cashing in on solar renewable energy certificates (SRECs). The government issues these certificates to each 1,000 kwh of energy produced through his solar panel. It is also possible to trade the certificates to money. The year 2020 saw each SREC sold for over $220. He could spend more on each month’s solar panel payments than he had paid, leading to a net profit instead of loss of money. ohm5yyhyvd.