Many are claiming that solar energy is both great for the environment and a good investment. The focus has been on solar panels that are mounted on top of homes. Several nations and some states in the U.S., have been utilizing this renewable energy resource. However, solar energy is too new of an energy source to invest in at this time.
How can we tell? If the government is still giving any kind of financial incentive, then that means that the market has not caught up and it is still overpriced. Currently, the U.S. federal government gives a 30 percent tax credit for installing a solar energy system at home. On top of that, cash is also given directly to new solar systems ― Utah gives out $2,000 in cash incentives.
The day that tax credits and direct money incentives disappear, is the day that renewable energies, such as solar power, are priced closer to a solid and efficient energy market. That is the day you should invest in solar energy for your home ― if it is at a good price.