Solar energy has become one of the most popular forms of energy production available. It’s easier to set up for smaller production areas and doesn’t produce carbon emissions. That’s a big reason solar production sees a 24% annual growth rate.
If you’re still considering whether a solar panel installation is right for you, learning the pros and cons will help. Keep reading to learn the positives and negatives to think about before you install solar panels.
Pros of Solar Panels
Solar panels offer many benefits for people who install them, so let’s look at the most important ones.
Reduced Energy Bills
A lower power bill is one of the best benefits of a solar panel installation. You draw power from the sun instead of the grid, so you don’t need to pay the power company for energy.
You can get an installation with a battery component to create and store all your energy or do a partial installation to remove part of your energy bill. In either case, you’ll see significant energy savings and will eventually pay down the solar panel installation cost.
Working with an experienced solar contractor will help you understand your options and what kind of power savings you can see.
Improved Home Value
Saving money and learning how to compare energy rates on your bills isn’t the only monetary benefit of solar energy.Many home appraisers now include solar panels in a home’s value and will increase it based on the energy savings each year.
If you plan to sell your home in the future, this can factor into your purchasing decision. Selling at the right time will help you break even on your purchase or come out ahead.
Reduce Grid Dependence
Although power grids are great today, that doesn’t mean they never fail. There are still times when the infrastructure fails, or bad weather knocks down power poles.
You won’t have power issues with solar energy. Since you produce energy yourself, you can count on your solar installation to keep the lights on when this happens.
Avoid Price Increases
One of the problems with buying energy is price increases. Energy companies raise prices with inflation and to make more profit. That means you’ll eventually pay more for power in the future.
But that’s less of a concern with solar energy. Yes, you’ll pay a lot to get an installation set up. But at the end of the day, you insulate yourself from future price increases.
Help the Environment
With the environment changing today and the global temperature increase, and more extreme weather events happening, it’s well-established in the scientific community that changes must happen. People must stop using dirty energy sources and polluting to slow changes as much as possible.
One of the best ways to do that is to switch to green energy on a local level. When you switch to solar, you can reduce your reliance on coal and other fossil fuels. Doing this will help you contribute to a greener future and a better environment.
Cons of Solar Panels
Although there are many pros of solar panels that make them worth buying, there are a few cons to consider. Let’s look at a few of the most common ones.
Large Upfront Costs
You can see a lot of cost savings over time when you invest in solar. But at the same time, you need to have a large amount of cash available to invest.
That makes solar panels a poor decision for many people. Even if you have the cash or can get financing, buying something that takes years to pay off may not make financial sense.
Reliance on the Sun
Solar panels are a great energy source, but they need a constant source of sunlight to keep producing energy. This isn’t a problem in many locations. However, some parts of the world get much less sun than others.
If you’re in an area with low sun exposure, you may not be able to see as many benefits from solar panels. You’ll need a larger installation to get the power you need. That installation size increase may make solar not worth the investment.
Roof and Space Constraints
Unfortunately, you’ll need some space to put solar panels. The most common location is the roof. The problem is that not every roof can handle solar installations, and if yours is one of those, you’ll need to buy a new roof too.
Another problem is the space. You’ll need room to install solar panels. If you don’t have enough space, you may not be able to get an installation that’s the right size for your home.
Expensive Storage Options
Even if you have a solar installation big enough to cover your power needs, you’ll still need to tie into the grid to power your home at all times. You have no way to store energy, so you’ll need power during the night. You’ll often get energy credits for selling excess power to cover those costs.
If you want to truly go off-grid, you need an energy storage solution. But these solutions are still expensive. If you want one, your solar cost will increase even more.
Consider a Solar Panel Installation Carefully
A solar panel installation is a big investment, so you don’t want to go into the buying process without all the information possible. Yes, solar installations will work great for many people. But at the same time, they may not be the best choice for everyone.
But now that you know more about the pros and cons of installing solar panels, you should be able to make a more informed choice. Remember the information above when deciding if solar is right for you.
Do you have any other home upgrades in the works? Check out more articles on the website to learn more about making home improvements.