The federal government will help you save money through the solar Investment Tax Credit, which is “a 30 percent tax credit for individuals installing solar systems on residential property.” Many states also offer solar incentives you may qualify for.
Solar panels will generate electricity and decrease your utility bill, saving money each month. Over the lifetime of a solar panel, which is 25 years, the system will pay for itself and then continue to save money. Solar savings can range anywhere from $10,000 to $30,000 over the lifetime of your solar panels.