Using solar energy has many benefits including eliminating monthly electricity bills. But it requires a high upfront cost when installing solar panels. So is a solar panels installation worthy?
The cost of solar panels has dropped to 60% in the past years. While energy rates from utility companies continue to rise. These are two major reasons why many people want to switch to using solar power at home. However, solar panels are not for all households. There are cases when sticking to conventional energy system is better than having your own renewable power system at home.
Installing solar panels should be thought of as an investment which you need to think through before deciding to put out money. It is crucial to weigh its advantages and disadvantages to make an informed decision and avoid regretting it later.
Advantages of solar energy
To help you out, here are the pros and cons of having solar power at home. Pros:
1- Reduce or completely eliminate electricity bills. This is the leading factor that influences people to install solar panels at home. Generating your own energy will drastically decrease your electricity bills, if not totally remove it. This is a great relief from your monthly budget as electricity bills are recurring expenses.
2- Protects the environment. Energy from the sun is renewable and clean. It is safe to use unlike the electricity from power plants which require fossil fuels to produce energy. Carbon emissions from fossil fuels are one of the main causes of pollution and global warming. Therefore, using solar power is contributing to a better environment.
3- Increases home value. Many people are interested in green energy as it offers lots of benefits. That is why houses with solar panels are more expensive and sell faster than those with conventional energy system.
4- Independence from local utility company. With your own energy production, you don’t have to worry about increase electricity rates or power outages due to utility maintenance.
5- Earn money. Governments offer tax credits and rebates for properties with integrated solar energy. In the USA for instance, 26% of solar panel installation cost will be return to you through tax credits. Additionally, you can have net metering to earn bill credits or even cash when you have generated surplus Then of course, you have the savings from your monthly electricity bills which you can enjoy for 20 to 30 years. Depending on your panels’ life span.
Disadvantages of solar energy
1- Upfront cost is high. Integrating solar energy in your home can significantly reduce your electricity bills, but it would take 5 to 6 years to pay off the initial investment cost. Although there are incentives from the government, you still need to put out money.
2- Not for every roof type. Solar panels are usually installed on the roof. Therefore, your roof should be strong enough to carry extra weight which would be 20kg for each panel. The number of panels to be installed depends on the amount of energy needed to power up your house. Also, some roofing materials can be difficult to install on panels like cedar tiles and slate which are common in older homes.
3- Finding the right installer can be challenging. Not all solar panels are of good quality. A thorough product research must be done before selecting a company to install the panels in your home. Proper consideration when it comes to durability, efficiency, design, and output can go a long way in maximizing long-term savings from this investment. Choose a company that offers strong warranties and don’t have major complaints about their work. Also make sure that it is licensed.
Important factor before a purchase decision
There are important things you need to consider before evaluating if it is worthy for your case to install solar panels. This will help you decide if investing in solar panels will be worthy for you.
1- Solar panels are climate dependent. It’s important that you’re in a sunny region and away from tall buildings and trees. The more unobstructed sun exposure the panels get, the more energy it produce.
2- Duration of Stay. Will you be living in the same house for the next 10 years? Your answer to this question is crucial. As mentioned a while ago, it would take 5 to 6 years before the investment will pay off. If you will be living in the house permanently, installing solar panels is a great idea as you’ll get to enjoy its benefits for 2 to 3 decades.
3- Energy needed in your house. Solar panels are great for those who consume a lot of energy. If you don’t have many appliances and have low electricity bills, then spending money for installing the system might not be worth it.
4- Roof type. Many solar panel installers don’t work with wood or slate roof as these materials are You should find installers that can work with delicate roofs as they may have to put layers of underlayment to support the heavy panels in the roof. This would be an additional cost.
Installing solar panels can be a smart long-term investment with substantial savings. But with the wrong home, they may not produce enough energy to be worth the cost. So it’s crucial to weigh the pros and cons. As well as thinking about your location, roof type, energy needed, and whether you’re going to stay in the same house for many years before deciding in investing in solar panels.
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