Installing a solar panel system on your home can provide you with many benefits, both financially and environmentally. The decision to install a solar energy system often hinges on whether it will save you money in the long run. Unfortunately, electric companies across the country have a history of increasing their rates every year, with an average increase of 6.24% since 1979 (source).
This means that eventually, you will end up paying more for electricity from a utility company than you would by producing your energy through a solar panel system. Essentially, the question of whether solar energy saves you money boils down to how long it takes for you to start seeing those savings.
If you're considering whether solar energy is a good fit for you, the answer might depend on how long you plan to stay in your home. Installing solar panel systems is an investment that takes time to pay off. In Phoenix, for example, it typically takes between 3 to 6 years to start seeing a return on investment. If you're planning on moving in the near future, say within a year or two, it's less likely that you'll see a return on investment.
Here is a Reddit thread from consumers about electricity rates all across the nation.