Long-lasting solar panels can unlock massive energy savings — see how much they can save you

Thinking about solar panels but scared off by the upfront cost? Here's who can save tens of thousands of dollars — and up to $168,047.

Solar system savings depend on how much you spend on your installation and how much energy costs in your area. That eye-popping figure above is what Massachusetts residents can bank over 25 years, according to clean energy marketplace EnergySage.

Idahoans, on the other hand, can expect to keep $20,728. (That is essentially the window, though the second-highest figure is $131,340 for Hawaiians, and Wyoming and Utah are notable low-end outliers at $6,769 and $4,575.)

If you live in Maryland, New York, Rhode Island, South Carolina, or Washington, D.C., you're in luck. These are the places with the best solar incentives, according to the company.

One of EnergySage's comparison charts shows the average cost of a solar system in each state and the nation's capital, what you can expect to pay after applying incentives, 25-year savings figures, and more. There's information about the price of solar systems based on size, federal tax credits, and inverters.

A breakdown of 11 components of an installation and their individual costs is especially revealing.

EnergySage can help you get free quotes and compare estimates, too. Not only will this help you save money on energy bills, but it will also lower your household's contribution to planet-warming pollution.

"Solar is worth it for most homeowners because it eliminates or significantly reduces your electric bill," EnergySage reports. "It's most helpful to think about solar panels as an investment. It takes an average of 7.1 years to earn back the money you spend on installing solar panels. After that point, the electricity from your solar panels is free."

Over 25 years, most homeowners will save $31,000 to $120,000, according to the site, and the price of a home solar installation has dropped from $3.36 per watt 10 years ago to $2.56.

What's the biggest factor stopping you from investing in solar panels? The cost The technology I'm a renter I'm already invested Click your choice to see results and speak your mind.

EnergySage recommends paying a premium for high-quality panels, though it stressed that the priciest options are usually not best. It said monocrystalline panels are the most efficient option for rooftop solar.

It may also behoove you to choose the biggest system you can, as per-unit costs generally go down as kilowatts go up — "a Costco-esque relationship." This will help you lower your utility bills as much as possible so you can save more. Add in a zero-down, low-interest loan, and you're off and running.

Another thing to consider is whether you need to upgrade your electrical panel. Usually, solar panels require a 200-amp breaker box. If you require this step, it can add several thousand dollars to the price of your system.

Of course, your climate and weather, roof, and electricity needs play roles too. Incentives vary as well. West Virginia ($13,498), Wyoming ($13,204), and Alabama ($12,854) have the highest average tax credit values, while California ($6,107), New Mexico ($8,006), and Arizona ($8,073) have the lowest.

You may want to act soon. President Donald Trump has said he wants to eliminate the Inflation Reduction Act, which makes the federal solar tax credit possible, though that would require support from Congress. The credit is worth 30% of your installation cost.

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