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Are solar panels worth it in 2022?

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18Jul

In this article, we’ll help you answer the question: “Is it worth it to buy solar panels?” For most people, solar panels are worth the investment, but they may not be right for you in some rare circumstances. However, even renters may have solar options if their property owners or managers are open to it.

  • The amount you’ll save by going solar will vary based on factors including how much you pay for electricityhow much your installation costs, how much energy you use, what rebates and
  • Virtually everyone has solar energy options, regardless of if you’re a homeowner, renter, or leasing their business property.
  • The amount you’ll save by going solar will vary based on numerous factors.
  • Most property owners will see a return on investment in less than 10 years.
  • You can maximize your solar savings by shopping around and learning more about your options.

Financial Benefits far outweigh the opportunity cost of buying a solar system now

When solar panels are worth it, and when they aren’t

Solar panels are usually most worth it if:

  • You own your property. Renters or business owners who do not own their property should speak to the property owner prior to making any plans to install a solar system.
  • You pay a high price for electricity. The higher your electric rate, the faster your solar panel system will save you money. These days, solar shoppers “break even” on their solar investment in seven to eight years.
  • You get a good price for solar. In 2022, an average 10 kilowatt (kW) solar panel system costs about R150,000.  Prices on Soleil Africa are usually lower than market prices, so you know you’re getting a good deal.

If you fit these criteria, solar panels are probably worth it! What’s more, even homes and businesses that don’t meet these points perfectly can benefit from solar with the right installation

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