Solar panels allow you to power your home using free, renewable energy, meaning you can save on your bills while reducing your carbon footprint. Upfront, however, they are a significant investment.

The cost of solar panels depends on the type and size of the system you choose, but Forbes estimates the cost ranges anywhere from $8,500 to $30,500, with the average 6kW solar system falling around $12,700. However, some states offer solar power incentives that can reduce the cost of your solar panels by $2,500 or more, so it's worth doing your research.

Note that it could take you anywhere from 6.4 to 9.5 years to break even on the cost of your solar energy system. But, according to Zillow, a solar installation can increase a home's resale value by about 4%.

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