Solar power is an increasingly popular investment, according to PosiGen CEO Thomas Neyhart. As the company seeks to educate people on the benefits of solar energy, several people realize the importance. The benefits of adding solar panels to your home are essential, but those are not the only factors to keep in mind when making the switch. You will need to consider what type of solar panels would best suit your needs.
According to a U.S. Department of Energy-endorsed online resource, four types of solar panels are available for residential use. They are Monocrystalline, Polycrystalline, Thin-File, and Solar Roofing Shingles. The latter is a newer and more expensive technology that is a viable option for those with the budget. Solar is an innovative energy solution for residential consumers, says Thomas Neyhart. However, like any energy decision, going solar has its pros and cons. In this article, we will discuss some common pros and cons of residential solar panels.
Pros
Solar is green energy that reduces your carbon footprint. Wondering what carbon footprint means? Thomas Neyhart quoted the definition of carbon footprint from GreenMatch. He defined carbon footprint as the number of greenhouse gases, produced directly or indirectly, that support human activities.
For instance, when driving a vehicle, the engine burns fuel, releasing certain amounts of carbon dioxide. We express the number of greenhouse gases emitted in equivalent tons of carbon dioxide. It has been reported that the carbon footprint of U.S. households is roughly five times greater than the global average. The report indicates that every household emits around ten tons of carbon dioxide annually. However, experts in the industry like Thomas Neyhart recommend investing in solar energy systems. The fact that solar systems depend on the sun’s energy, which is free, available, and green is the basis of this suggestion.
Solar will lower your electric bill. Thomas Neyhart cited an article published by Solar News on solar energy. According to research, 59% of homeowners with solar panels made the decision primarily because of the savings on utility bills. Installing solar panels in your home helps you generate your electricity, making you less reliant on electric utility. With a solar panel system, you’ll enjoy free electricity all through the life of your system, which may be twenty-five years or more. Even if you don’t generate all the energy you use, you will save a lot of money. Thanks to net metering programs, you can save even more by selling excess energy back to your company in the form of credits.
In other research conducted by Tesla, an average American household in Golden state spends about $179 on electricity bills monthly. After installing solar panels and conducting tests, the average dropped to $22. That is over an 80% drop in electricity bills. Over the lifespan of a solar panel array, the saving becomes quite significant. Twenty-five years without solar panels, and the average family spends about $60,000. On the other hand, with solar panels, their expenditure comes down to $9,000. That translates to $51,000 saved in the span of two and a half decades. And the most exciting part is solar panel setup only costs about one-fifth of the money saved, says Thomas Neyhart.
Solar improves the value of your home. Another advantage of installing solar panels is that it increases the value of your home. Several homeowners, buyers, and appraisers know that installing solar panels and batteries increases a property’s market value. According to the US Department of Energy and the National Renewable Energy Laboratory’s (NREL) extensive report, they found that: For every $1 you save on your electric bill, your solar installation can add $20 to your home value. Homes with solar arrays sold 20% faster and for 17% more.
It is generally true that installing solar panels increases the value of your home. However, some factors influence the value added by solar panels. Some of the most prominent factors include:
Geographic Location: The cost of electricity varies depending on the community. Additionally, the geography of a location can influence the amount of sun exposure you receive and the social benefits of installing solar panels.
Local solar installation cost: If a potential buyer would save money buying a house with a system installed, it will make the home more valuable.
System replacement value: The availability of the parts of the system can affect the added value of the system overall. The age of the system also matters. Older systems can’t add as much value to your home as newer models.
Residential solar is very easy to maintain. Solar panels are very easy to maintain and have a lifespan of between 25-30 years. “You might need to replace a high-quality inverter every 10-15 years, but under normal conditions, you can enjoy the benefits of solar energy. At PosiGen, we advise that our team of experts inspect your system regularly in case of any cabling issues or loose brackets.” says Thomas Neyhart.
“As for regular maintenance, you should ensure that there are no leaves or branches on the panel. We position solar panels mounted on the roof at an angle so that rain, debris, or snow slides right off it. Lastly, ensure that no trees cast a shadow over the solar panel, as this would reduce efficiency.”
Cons
Residential solar has a high initial cost. Investing in solar panels can be expensive, says Thomas Neyhart. According to the Center for Sustainable Energy, on average, the cost of purchasing and installing a solar system can run between $15,000 and $25,000. The problem is not everyone has the cash on hand to make such a significant investment. However, there are ways to work around this con. The availability of solar financing options has made it easier to make investments in solar energy. Such options include state-backed loan programs, leases, and power purchase agreements.
Solar isn’t ideal if you’re about to move. Installing solar panels is indisputably a sound investment. But it can take a long period to break even. According to studies cited by Thomas Neyhart, the average solar panel payback period in the United States is around seven and a half years. However, installing solar panels might not be a suitable investment for people who may have to move around in the coming years.
As mentioned earlier, installing a solar energy system can improve the value of your property. This climb in value can increase your return when you someday decide to sell the property. So the best way to avoid this downside would be to buy your system with a cash purchase or a loan.
Solar panels aren’t for every roof. Older homes are often made with roofing materials which can be difficult for solar installers to work with. These roofs are made with cedar tiles or slate, which are incompatible with rooftop solar panels. Also, homes and apartment buildings with skylights or other rooftop additions like roof decks can be problematic. These additions make the installation process complex and costly.
However, this should not be a deterrent to the general adoption of solar power in the United States in the long term. In the case where your home can not accommodate a rooftop solar installation, there are other options. Opting for ground-mounted solar panels or purchasing a share in a community solar garden are ways around this disadvantage of solar panels.
Solar energy is dependent on sunlight. One of the most prominent drawbacks of solar panels is that they are largely dependent on sunlight. Although solar panels do not need direct sunlight to function, they lose efficiency if not fully exposed to sunlight. Furthermore, Thomas Neyhart emphasized that solar panels can’t generate energy at night and are less effective during the dark winter months.
A practical alternative for this con is switching to the main power grid when the panels are not exposed to sunlight. Also, a house that doesn’t rely on the grid system can store excess energy in solar batteries during the day. The house can use the stored energy at night.
