Solar Panel Pros and Cons: Find Out if They’re Worth It for You
According to research, there is more potential for electricity production in the United States than any of the alternative energy sources. However, only around 2.8% is generated by renewable sources.
If you're a homeowner looking to save money on utility bills, you may have wondered if installing a solar panel system is worth the expense. Will having one reduce your electricity costs? If you're spending a lot getting solar panels installed, you should know the answer before laying out the cash.
So, if you're considering solar panel installation, keep reading. Here are the pros and cons of solar panels that you should know to decide.
Solar Panel Pros
One of the main factors that many consider is their carbon footprint. Solar panels help reduce your carbon footprint, but there are multiple other positive aspects to having solar panels installed. Because we know you want to know the benefits of solar panels first, let's take a look at some of the advantages you can gain from solar panel installation.
1. Solar Operates In Most Climates
A common misconception about solar energy is that a solar panel system can only work in climates with summer weather all year long. In fact, solar panels often work more efficiently in colder weather. This is because heat causes the voltage produced to be reduced.
Solar panels produced these days can be efficient even in cloudier climates. The size of the panels may have to increase to produce the same amount of energy, but they are functional all the same. Alternatively, you can opt for a solar panel upgrade, moving you from 100w to a more powerful 240w.
2. It's Affordable
With more focus on world conservation, more people are turning to solar. For this reason, solar power is becoming more affordable, allowing more people to have this as their primary source of energy. Furthermore, governments see value in solar panel installation; some even offer financial incentives and rebates. This, and lower solar panel costs, are to encourage more people to switch to using solar energy.
3. Long Lifespan
Solar panels wouldn't be worth their money if they perished quickly in the elements. Because they have to withstand harsh and sometimes extreme temperatures, solar panels are built to be more durable so they can last. Solar panels are strong enough to withstand most elements, including hail, during storms.
4. Increases Home Value
As a homeowner, you don't want to invest money in anything that will not get you a good return on investment. One of the benefits of solar panels is that they increase your home value, making them worth the cost.
According to research, solar panels can increase your home value by 4.1%. This means when it comes time to sell your home, not only will your property have a significant selling point, but it can also fetch a higher price than before your solar panel installation.
For example, if your solar panels save you $800 each year, your home value can potentially increase by $16,000.
Solar Panel Cons
Of course, nothing is perfect, so a few cons come with considering and installing solar panel systems. Here are some key disadvantages of solar panels; however, don't let these deter you. You may find some don't apply to you.
1. Only Runs During the Day
Unfortunately, solar panels don't work at night when there is no sun to power them. This means that going off the grid entirely may be more challenging than initially anticipated if it's even possible at all.
Instead, solar panel systems work by consistently providing your system with power. Your solar energy system can store any excess energy in batteries, which can power your home when there is little to no sun. For example, these batteries will allow you to power your appliances at night.
2. Ruins the Aesthetics of Your Home
Solar panels aren't always pretty once installed on your roof. While this may not be a factor for some people, others may see it as a disadvantage. However, as we progress with technology, so do solar panel designs.
For example, where before they were bulky, solar manufacturing companies these days are creating more sleek, aesthetically pleasing designs that can work with the overall style of your house. However, an additional disadvantage that tags onto this one is these sleeker, more stylish designed panels can be more expensive than other, less attractive options.
3. Solar Panels Can Be Expensive for Some
While solar panel costs are coming down, they can still be too expensive for some families. Solar panel costs can run as high as $20,000. Coupled with the fact that they can sometimes have a more extended payback period.
This payback period is affected by electricity costs, how much electricity your solar power system generates, how much it costs to purchase and install, and how many incentives you receive.
4. Doesn't Work with All Buildings
Finally, one of the last disadvantages we'll bring your attention to is that solar panels don't fit every building type. Solar panels require a lot of direct sunlight to function, so they must be placed strategically to harness the sun's power effectively.
There are several reasons why your roof may not be a viable option for solar panels; for example, if it's in the shade or if the roof is an odd shape.
Get Your Home Fitted With a Solar Panel System Today
Getting your home fitted with solar panels and kitting yourself out with a solar generator can go a long way to keeping you up and running during times of no power, like a power outage. However, solar panel installation is not for everyone, so considering the pros and cons we laid out should help you decide.
If you think reducing your carbon footprint is essential, and getting a good return on investment, then installing a solar power system may be right for you.
If you want to have solar panels installed or a solar panel upgrade assessment, view our offerings online and see what we can offer you to reduce your energy bills this year.