If you're a homeowner looking for ways to cut monthly expenses and increase your home’s value, solar panels may be the smartest investment you haven’t made yet. With energy costs continuing to rise, making the switch to solar doesn’t just help the planet—it helps your wallet, too.

Pairing solar panels with your SPAN Panel also provides a raft of additional benefits designed to optimize your solar panel output and maximize your energy savings and efficiency. 

How much can you save?

On average, homeowners save between $10,000 and $30,000 over the lifetime of their solar system, depending on their location, roof size, energy usage, and available incentives. Here’s how the savings add up:

• Lower Utility Bills: Once installed, solar panels start reducing your electric bill immediately. Some homeowners can eliminate their electricity bill altogether.

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• Net Metering: Many states offer net metering, allowing you to sell unused energy back to the grid. That means more credit and less cash going to the utility company.

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• Tax Credits & Incentives: The federal solar tax credit (ITC) currently allows homeowners to deduct up to 30% of the cost of installing solar from their federal taxes. State and local incentives can increase savings even more.

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• Increased Home Value: Studies show that homes with solar panels sell for more - 5-10% on average. In many markets, buyers are willing to pay a premium for solar-equipped homes especially if energy bills are already low or non-existent.

Upfront cost of solar panel installation

The average cost to install solar panels on a home ranges from $15,000 to $25,000. That may sound steep, but many homeowners finance their system with little to no money down. With solar loans, your monthly payment may be less than your current electric bill. When you also factor in tax credits and rebate incentives, the upfront cost can be reduced by up to 30%.

Better yet, many solar systems pay for themselves in about 6 to 10 years, and then it’s pure savings from there, especially since panels can last 25+ years. Let’s say you install a $20,000 solar system and receive a $6,000 federal tax credit. You’re left with a net cost of $14,000. If your average electric bill is $150/month and your solar system offsets your electricity bill, that’s $1,800 per year in savings! Your system could pay for itself in less than 8 years, and save you over $30,000 over its lifetime.

Final Thoughts

Upgrading to solar is no longer a niche move—it’s a financially smart one. With rising energy costs and attractive incentives, homeowners who switch to solar today are locking in long-term savings and boosting their home’s value for the future.

If you’re interested in adding solar panels to your SPAN Panel, contact your SPAN Authorized Installer to receive a quote.