Are you considering switching to solar power?
Solar panels have been on people’s radars for decades. Yet, many have wondered whether the investment was worth it going solar.
The benefits seem wonderful at first blush. But you also aren’t sure whether there are cons to the pros of going solar.
With that in mind, here’s our guide on the pros and cons of going solar.
Pros of Solar Panels
Solar panels have many advantages over traditional energy sources. One of these advantages is that solar panels are an excellent way to reduce or cut electric bills.
By installing solar panels in your home, you can generate electricity on your own. Solar panels are a great investment in your home and can save you money each month on your electric bill.
Aside from reducing your electric bills, there are many other pros of solar panels. Below are some of the main advantages that you should know about.
Reduce Your Carbon Footprint
A huge benefit of solar panels is that they help reduce your carbon footprint. Burning fossil fuels for electricity emits harmful greenhouse gases into the atmosphere. This contributes to climate change.
By using solar panels, you can generate electricity without polluting the air. This makes it a key part of a clean energy future. If you go solar, you can shrink your carbon footprint and help create a healthier planet for future generations.
Improve Your Home Value
Solar panels are a great way to improve your home value. They are an investment that will pay for themselves over time, and increase the value of your home.
Solar panels also increase the curb appeal of your home. This makes it more attractive to potential buyers.
A recent study found that homes with solar panels sold faster and for more money. This is when compared to homes without solar panels. Buyers prefer them because they provide a renewable and sustainable energy source.
Solar panels also need little maintenance and can last for decades. Because of this, many consider them a wise investment for any home.
Energy Independence From the Grid
With solar panels, you can reduce your dependence on the traditional power grid. This is especially important during power outages or natural disasters when the grid may not be operational.
Solar power can provide you with peace of mind knowing that you have a backup source of energy. With it, you can keep your lights on and your family safe.
Earn Money Back From SRECs
Solar power is a great way to save money and be more energy efficient. One way to save money with solar power is to take advantage of solar renewable energy credits (SRECs).
SRECs are credits that solar power system owners earn for every 1,000 kilowatt-hours (kWh) their system generates. In some states, solar power system owners can sell their SRECs to offset the cost of the solar power system.
In other words, solar power can help you save money not just by reducing your energy bills. You can also earn money back from SRECs.
Take Advantage of Incentive Programs
Federal and state tax incentives are available to encourage homeowners to install solar energy systems. One such incentive is the federal solar tax credit, also known as the investment tax credit (ITC). This allows homeowners to deduct 26% of the cost of installing a solar power system from their federal taxes.
The ITC applies to both residential and commercial installations. There is no limit on the size of the system or the cost of the eligible property.
Also, many states offer solar tax credits and incentives. These state programs can provide extra savings on the cost of going solar. You can find your state online and see what programs are available for you.
Cons of Solar Panels
Solar panels are often touted as a clean and renewable energy source. But, they also have some significant drawbacks. Here are some of the disadvantages of solar panels that you should be aware of.
Solar Panels are Expensive
One of the biggest cons of solar panels is that they are expensive. The initial cost of solar panels can be several thousand dollars, which can be a deterrent for many people. Solar panels also need periodic maintenance and cleaning, which can add to the cost over time.
Long Payback Period
Solar panels have a long payback period. It can take up to 10 years or more to recover the cost of buying and installing solar panels. If you want a faster way to get your money back, you might want to reconsider.
Not Viable for All Roofs and Homes
Solar panels are a great way to save money on your electric bill, but they are not viable for all roofs. Solar panels need to be installed on a south-facing roof that is free of shade to be effective. If your roof does not meet these criteria, solar panels will not be a viable option for you.
Fewer Savings When Electricity Costs are Low
As the cost of electricity goes down, the amount of money you save by using solar panels also decreases. This is because solar panels produce electricity at a fixed rate, regardless of the cost of power. So, when power prices are low, you save less money on your electricity bill.
You Must Consider Several Factors During Installation
Solar panel installation can be difficult because of the many factors to keep in mind. The location of the house or building is one of these. The angle of the sun, the amount of shading, and the size of the property all affect the feasibility of solar panel installation.
Also, the type of solar panels should be an important consideration. Some solar panels are more efficient than others. The most efficient solar panels are also the most expensive.
The installer must also have the training and equipment to install the solar panels. Keep in mind that the electricity grid must be able to accommodate the solar panels. If the grid cannot handle the extra electricity, the solar panels will not be effective.
Know the Pros and Cons of Going Solar
If you’re considering making the switch to solar power, it’s important to do your research and weigh the pros and cons first. Solar energy can be a great way to save money and help the environment, but it’s not right for everyone. Knowing the pros and cons of going solar will help you make the best decision for your home or business.
For more articles on solar power and going solar, be sure to check out our blog!