Are you looking for ways to reduce your monthly electric consumption? Then you may want to consider solar panel installation. Solar panels work by converting the sun’s light into electricity.
In turn, you can use this electricity to power your residential electrical loads. Interestingly, more homeowners in the United States are considering solar panels.
But like with any other installation, there are pros and cons of installing solar panels. Before you invest in one, you need to know the benefits and disadvantages that await.
Continue reading below as we take a look at what to expect from solar panels.
Pros of Solar Energy
Why invest in solar power? Is it an affordable option? Check out some of the benefits below:
1. Reduce Your Energy Bills
Reducing your monthly energy consumption is one of the key benefits of solar panels. Installing solar panels means you are now generating your own electricity. Though it may not cover your electrical load entirely, it can reduce your energy bills.
During summer, you can use the energy to power your air conditioners. And if you’re living in remote cabins and homes, you can use solar panels to power your home.
And after several years, you may consider going 100% off-grid. This means you no longer have to be dependent on electric companies for energy.
2. Reduce Your Carbon Footprint
As 2020 becomes a crucial year for the climate, everyone must do his share to battle global warming. Thankfully, solar panels help reduce your carbon footprint.
Compared to traditional energy sources, solar power is clean and renewable. It doesn’t require the burning of fossil fuels. Thus, it doesn’t equate to generating pollutants that affect the atmosphere, as well as the seas.
In turn, you are in no way contributing to the global warming problem. Additionally, solar power will still work even during a heatwave or a drought. On the other hand, nuclear power, coal, and gas require water in large amounts for cooling.
3. Earn Rebates and Tax Credits
Apart from lowering your bills, you can also earn tax credits and rebates by using solar panels. Because of the Solar Investment Tax Credit (SITC) policy, you can get back 30% of your total system costs from the installation and equipment of your solar panels.
This means that if you spend $30,000 on your solar panels, you will get back $9,000 through the SITC. Furthermore, there are local and state tax rebates.
If you combine all of these, you can get roughly half of your upfront investment back.
Apart from being a clean source of energy, solar power is also sustainable. This means solar energy can provide your electrical needs without compromising the needs of your children and grandchildren in the future.
Unlike fossil fuels and other conventional sources, solar energy is non-exhaustible. Moreover, it is available everywhere. Regardless of which state you live in, you can use your solar panels to harvest energy.
Additionally, high-quality solar panels can last between 25 and 35 years. Think about the savings you will enjoy in over two decades.
Cons of Installing Solar
Of course, there are a few issues with installing solar too. While it can cut down your energy bills and it’s an environment-friendly option, there are a few downsides to consider too. It starts with the upfront costs:
1. Upfront Costs
On the flip side, solar panels do come with a few downsides. First, there are the upfront costs that may send some homeowners to a halt. Relatively, the initial installation of solar panels is expensive.
The prices of panels are slowly going down as the years go by. But still, the panels don’t come cheap, especially the good ones. If you have a large house and you plan to build an array of panels, it will cost you tens of thousands of dollars.
Thankfully, you can apply for financing options to ease the financial impact of the installation.
2. Expensive Storage
One of the most important parts of a solar energy system is the battery. This is the one that keeps the energy your solar panels harvest from the sun.
Unfortunately, these batteries do not come cheap. Hence, you need to invest in cost-effective batteries.
3. Should Match Your Roof Type
Another key disadvantage of solar panels is that they should match your roof type before you can use them. This is because the panels use a mounting system that connects them to your roof. Unfortunately, older homes that feature cedar or slate tiles do not match the mounting system fairly well.
And if your home features roof decks or skylights, it will also be tough to install the panels. You may tweak your roofing but it will cost you extra on top of the expensive installation costs.
4. Only for the Long-Term
Last but not least, solar panels are for those who have no plans of moving to another place anytime soon. Because of the expensive upfront costs, it will take you several years to enjoy your ROI.
Choosing the Right Solar Panel Provider
When it comes to enjoying your ROI, your choice of solar panel provider plays a crucial role. But how do you pick the right provider?
First, do not rely solely on websites comparing solar panel prices. Though prices do matter, it shouldn’t be the sole factor to consider. Hence, you need to get more than one quote before deciding.
Compare the quotes and the credentials of each company. A good company will be transparent in all angles. If they see that there is a problem with your roofing, they will tell you that you need to address it first before installation.
Moreover, you need to compare the companies’ approaches to the equipment and installation. The more complicated your roofing is, the more challenging it will be for the installer. Thus, it is wise to go for a company with a solid track record.
And if you are asking if “solar companies near me are good options,” your research becomes paramount. As you study the pros and cons of installing solar panels, be patient before deciding.
Learn More Beyond the Pros and Cons of Installing Solar Panels
Learning about the pros and cons of installing solar panels will help you arrive at the best choice for your home. But a solar panel is only one of the many ways to make your home more energy-efficient.
We invite you to check our other blog posts. We feature solutions that are excellent investments today and in the years to come.