Solar power isn't just for going off the grid anymore. More and more homeowners are finding solar panels are a great option to supplement their existing power source and lower utility costs.

If you have the cash to make the up-front payment, installing solar panels can be a smart long-term investment. They last for up to 30 years with minimal maintenance. By generating your own electricity, you can reduce or even eliminate your power bill to the electric company. Furthermore, there are federal and state tax credits that can reduce your initial installation costs, making it an even better deal. At the same time, you will be reducing your carbon footprint and reliance on fossil fuels, making your own contribution to the health of the planet.

How It Works

Your solar system will hook right into the power grid. On sunny days, when you generate more electricity than your house needs, you will actually send the excess out along the power lines. Then at night or on overcast days, you will draw conventional energy from the grid. If your conditions are favorable enough, you can make a profit by creating more electricity than you use overall.

The panels can pay for themselves in saved electricity costs in anywhere from two to 15 years, depending on how much energy you create and your state's incentive programs. Many companies also offer financing options so you don't have to come up with all the cash up-front.

Solar isn't a good solution for every homeowner, however, so consider the following factors when making your decision:

The Next Steps

If you think your house is a good prospect, the next step is to contact reputable solar installation companies and get some estimates. Their experts can help you go over the costs and savings and make the decision that is right for you.