Credit: Shutterstock / Victor Yarmolyuk
Today, more and more people want to do whatever they can to lessen their impact on the environment. However, renovating your home to be environmentally friendly can get expensive. So, are solar panels worth it?
Solar panels are worth it if you want to reduce your carbon footprint and save money on utility bills. They are low-maintenance and can even increase your property value in many markets. However, the high initial cost and unattractive appearance deter some people from installing solar panels at home.
Some would argue that the initial cost of solar panels pay off in the long run with decades of savings on utility bills. Follow along as we explore the pros and cons of solar panels and see if they're worth it for you.
Pros And Cons Of Solar Panels
Solar panels aren't perfect, but they offer many undeniable benefits. That said, don't rush into any expensive addition to your home without first weighing the pros and cons.
Pros
Reduces Your Carbon Footprint
People typically install solar panels to reduce their carbon footprint. Renewable energy sources are more important than ever, considering the mounting concerns over greenhouse gas emissions. Solar panels don't emit greenhouse gases since they don't rely on fossil fuels. You can prevent thousands of pounds of carbon emissions by installing solar panels. When creating the panels, some emissions are released but installing them can significantly reduce your carbon footprint and make you less reliant on fossil fuels.
Lowers Maintenance Costs
Solar panels are low-maintenance and primarily only require a few cleanings per year. They can get dirty, but that shouldn't be a problem if you clean them at least 1-2 times per year. Some people don't want to get on their roofs to clean solar panels and they can hire someone to do it. You can expect to spend roughly $100 to $350 to have solar panels cleaned. The cost ultimately depends on how many panels you have and how long the cleaning takes.
Spend Less On Utility Bills
You can save a small fortune on utility bills by installing solar panels on your home. In a 25-year spand, you can save over $30,000 on energy costs, with some people saving up to $200 per month using solar panels. Your total savings depend on your energy consumption and the number of solar panels you have. That said, you can expect to save at least 40% to 50% on power bills after installing solar panels. You may also qualify for the solar tax credit , which can save you more money.
Boosts Home Value
A house is an investment, and most people want to get a good return on that investment. The best way to get a great return is to make your home as desirable as possible. Solar panels are coveted additions that can boost home value by 3% to 10%, which makes a big difference. Solar homes sell for more money in many markets, and some sell for more than the asking price. Installing solar panels can help you appeal to environmentally conscious buyers. Of course, other factors affect home value, so you can't neglect other additions and maintenance.
Stores Energy For Later
Some people worry they won't have energy at home when the sun goes down. That's not the case, as you can store solar energy to use at night. The panels themselves don't retain solar energy, but you can store it in special batteries.
You can connect your solar panels to special battery systems, so the excess power doesn't go to the grid. That way, you can use this energy overnight and on cloudy days, so nothing gets wasted.
Cons
Some Roofs Don't Support Solar Panels
Some roofs are incompatible with solar panels. They need a lot of space, and skylights and vents can get in the way. If you have a big home, you likely need up to 495 square feet of clear space for your solar panels. Not everyone has that space, and renovations may be needed to support solar panels. In that case, consider whether solar panels are worth it. They are expensive to install, even if you don't have to renovate your roof.
High Initial Cost
Solar panels are investments, and the high initial cost keeps some people from buying them. You can expect to spend roughly $15,000 to $30,000 to install solar panels on your roof. The price varies based on the number and type of solar panels, as well as labor costs. Many people cannot justify spending that much at once. However, you can argue that the utility bill savings alone pay off the initial investment.
Even still, that's hard to justify as a new homeowner. Solar battery systems that connect to panels typically start at $6,000 . This is an optional cost, and many people don't use solar battery systems. However, you will quickly realize how useful these systems are, especially at night and on cloudy days.
Some Climates Aren't Solar Panel Friendly
Do you live in a dark, rainy, and cloudy climate? If so, you may not get as much out of your solar panels as you would in Southern California. Even houses in sunny climates may not get much sunlight if they sit in the shade. This can greatly reduce how much energy you get from solar panels. Snow can also bury solar panels and block the sunlight, even when the sun comes out after it snows. Think carefully about how much sunlight your roof gets before installing solar panels.
They Lose Efficiency Over Time
Like anything else, solar panels eventually become inefficient. While they last up to 25 years, they don't perform as well after roughly 15 years. They lose efficiency each year, but only by a small margin, which you may not even notice. However, this adds up and you'll eventually notice weaker performance. You may see this difference in your utility bills before you notice anything else. Ideally, you should replace your solar panels after 20 years, or as needed.
Some People Struggle With The Appearance
Most people renovate their homes to make them look better. Other additions, such as solar panels, are purely functional and don't necessarily look great. Some people don't like the way solar panels look, which keeps them from installing them. However, solar panels are more about reducing your carbon footprint and saving money than they are about making your house look good. Weigh the pros and cons of solar panels and consider whether the appearance is important to you.
Summing It Up
It's worth installing solar panels if you live in a sunny climate and want to save money on energy bills. That's especially true if you want to decrease your carbon footprint and contribute to positive change. Solar panels are expensive and gradually become less efficient, but you can save tens of thousands on energy bills over the years.
