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TRANSCRIPT: Solar was something that was really exotic and people had to be a little crazy to put solar panels in a house. Not anymore. You’re crazy like a fox if you put in solar in your home. Because the cost of panels has collapsed.
They are so much cheaper that the payback putting in solar is really, really fast. Think about it. You’re running your own power company right on the roof of your own home. I love it. So, solar has become much cheaper because companies in China have made way too many solar panels. Plus there have been breakthroughs making solar panels more efficient.
It is still expensive to put them in up front, but you get a 30% federal tax credit. If you don’t have the money to install solar there are a lot of companies that will either finance them for you or lease them to you at no upfront cost. You don’t get as much energy savings that way on your power bill, but you’ll save money every month nevertheless. I’m Clark Howard.