Solar Energy - Is it Worth the Expense?

I am trying to learn how to be more energy efficient these days and along with hybrid cars being all the rage and solar panels being used as a renewable energy source for residential and commercial investment properties should be evaluated.

The best I can tell, there would be about a $25,000 cost to install 100 sq ft. of solar panels on my southerly facing rooftop. If I consider that the system has an economic life of at least 25 years, then the math is pretty simple. It will cost me about $1000/ year to own the solar panel system. I can expect a 40-60% reduction in my electric bill which runs me about an average of $700/month since my wife starts to sweat at 70 degrees. Conservatively then, I should save a minimum of $280/month and I begin saving money after about month four which is also about the same time as my Tax Freedom Day! 

What’s great about solar is that you still use your traditional electric service but it just kicks in when it needs to when the panels begin to deplete. An inverter converts the direct current energy into alternating current to give you the supplemental power need to run your household. 

Solar panels provide a bonus for your wallet and also your conscience. Studies show that carbon-dioxide emissions are reduced by an average of 8500 lbs per year which would be like taking about 200 cars off the road for a day! Keep your eyes peeled for tax credits available for those who “plug-in” to the concept.

Has anyone else had experience with the claims of a solar panel manufacturer being accurate and do the benefits measure up to the degree that has been promised?