Is solar power for my home worth the investment to lease or buy?

I have a 2,000 sq.ft. home, including the garage and I wanted to know if having solar will help my billing in the coming years.  I'm presently spending about $1500 on electrical and although I did not use the AC or heater last year, I purchased a new AC and heater and I'm planning on using them this coming year.  I also have a pool as well and I might end up purchasing a Pentair Variable Speed Pool pump that is supposed to also reduce my electrical bill.

Your thoughts are always welcomed and especially from those who have personal experience on the subject.
uppercut7141Asked:
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KimputerCommented:
Depends on SO MANY factors, it's hard to tell right now.
In any case, if you have a lot of sun, any panel you buy (if installed correctly) will break even at around 5 through 10 years. It also depends on how many shadows there are, and if optimizers are used.
Say you (in this case, buy only, I have no experience with lease) invest 5000 bucks, if you get optimal performance, by year 5 or 10, the 5000 bucks have been earned back (also depends on your electric company, local laws, what is charged for the power you supply back). Every year after that (most panels are made to be 30+ years), it's money in your pocket (and in turn, should be a better and safer investment than say a savings account).
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uppercut7141Author Commented:
Thanks for the useful information.  

Does anyone have any more information?
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aburrCommented:
I assume that the $1500 is per year.
Two years ago we installed a modest (4KW) number of panels. Since then the electrical company has paid us every month. Because savings interest rates are so low we consider this a very good investment. At the time there were tax advantages and now the electric company is trying to reduce payments. (But ours are locked in).
A lot depends on your location (NM has lots of sun). Ask several instalation companies to present details to you. They will be glad to do so and will take in all your local considerations.
We figure on getting our investment back in less than 10 years.
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aburrCommented:
I assume that the $1500 is per year.
Two years ago we installed a modest (4KW) number of panels. Since then the electrical company has paid us every month. Because savings interest rates are so low we consider this a very good investment. At the time there were tax advantages and now the electric company is trying to reduce payments. (But ours are locked in).
A lot depends on your location (NM has lots of sun). Ask several instalation companies to present details to you. They will be glad to do so and will take in all your local considerations.
We figure on getting our investment back in less than 10 years.
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aburrCommented:
question answered
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