Benefits Of Solar Panels
There are many advantages of solar energy to consider when youre deciding whether or not to install solar panels, such as:
Start Your Solar Journey Today On Energysage
The best way to take advantage of all that solar has to offer is to compare quotes. On the EnergySage Marketplace, youll receive up to seven, free quotes from installers in your area so you can easily compare your options, allowing you to find a system that meets your needs at the right price. Want a quick estimate of what a solar installation will cost? Check out our solar calculator.
Should We Still Invest In Solar Energy
The short answer is yes. There is no such thing as a perfect energy source. From nuclear and fossil fuels to renewable resources, all of them have many advantages but also some disadvantages. However, as we are quickly running out of time in the race to reach zero emissions, it is crucial that all countries begin to seriously evaluate which sources of energy can bring the most benefits. While solar energy might not be the best solution for northern countries for the lack of sunlight they receive throughout the year, and some of its disadvantages such as the extensive land use that the installation of solar panels requires might not make it the best candidate for everyone, this renewable resource, along with all others, certainly has undeniable potential and it still a better alternative to environmentally unfriendly fossil fuels, beyond being the best chance we have at stopping global warming.
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Reduce The Cost Of Your Energy Bill
The most widely known advantage of solar panels is that they will reduce the cost of your electricity bills.
Due to the suns energy being renewable and free it means that you will not be paying for the energy you generate through your solar panels.
There are endless benefits that come from having spare cash each month to spend on your family or other things. Saving money is one of the biggest advantages of solar.
Solar Systems Are Modular
It means you can add solar systems as your electricity demand grows. Assume you only have 5 kW of electrical load today. However, after five years, your electricity demand rises to, say, 7 kW. One of the major advantages of solar energy is that you can add another 2 kW of solar panel to the existing solar system and use it.
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What Is Net Metering
Net Metering is a system that allows a house to connect to the local electricity generation network and inject energy. It is especially useful for those technologies that produce renewable energy such as solar and wind energy.
In this way, when the house injects energy, the light meter works in reverse. At the end of the billing period, the customer only pays for her net consumption. It means, the total resources consumed, less the total resources generated.
Battery Storage Is Expensive
Theres no point sugar-coating it, the upfront cost of a battery storage system isnt cheap. Not only that, but the more storage you need, the more expensive it will get. Starting from around $2,000 and reaching upwards of $20,000 for a higher capacity, battery storage systems are pricey even at the shallow end. The silver lining is that solar companies often run promotions when customers purchase solar panels and storage at the same time, so make sure you do your research before making a commitment.
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Its A Renewable Resource
This implies that they do not deplete over a lifetime, and there is zero possibility that they will run out .
Sources of energy like fossil fuels are considered limited resources, and there is a strong possibility that they will run out in the future.
Renewable energy can help developing countries from over-reliance on fossil fuels. Powerful winds, heat emanating from beneath the earth, sunshine and moving water can guarantee a huge and steady energy supply to a nation for many years.
Solar Investment Tax Credits Are Available For Solar Energy Installations
In 2006, Congress enacted the Energy Policy Act, which created the Solar Investment Tax Credit. Known as the ITC, this very subsidy gave rise to the massive solar industry you see today. Since the ITC was passed, the U.S. solar industry has grown by more than 10,000%, hundreds of thousands of jobs have been created, and billions of dollars have been injected into the economy.6 All because of a tax rebate!
In 2019, the tax credit was 30%, and like wind credits, the government has plans to wind the tax credit down. However, it has been extended by two years since 2019 for residential customers. Today, the ITC is 26% off the taxes of any solar installation, from a small-scale rooftop array to a large-scale utility solar farm that powers thousands of homes. By 2024, ITC credit will only be available for utility-scale solar projects.
Theres no need to worry right now. You can still take advantage of this money-saving opportunity by investing in a home solar system that will pay for itself in a few years or take advantage of the credits right now and switch to a solar electricity plan.
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Low Energy Conversion Rate
The conversion of solar energy is still a new technological advancement. Even the most advanced solar panels convert around 20-25% of the suns energy into power. However, this does not take into consideration environmental factors such as clouds and rains.
During adverse weather events, conversion rates could be even lower. While this is not ideal, solar technology is continuously evolving and developing further. It is anticipated this will eventually be improved.
Solar Doesnt Work For Every Roof Type
Not every room will work well with solar panels. Orientation matters. If your roof doesn’t face the sun, you wont be able to capture enough solar energy. Roofs that angle into the sun tend to work better than flat roofs.
Roofing materials like asphalt shingles, metal and tiles make installing solar panels easier. If your room is made with other materials, installation may be more expensive. Part of what makes energy-efficient roofs is their ability to support solar panels.
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Solar Energy Vs Wind Energy
Both wind and solar energy are two of the fastest-growing sources of renewable energy. Both energy sources help to cut down pollution and offer alternatives to fossil fuels, however, there are notable differences between the two.
The turbines that power wind energy are less harmful to the environment than solar panels. Furthermore, they produce more electricity than solar panels and can be installed offshore. Unlike solar, wind energy can be harnessed both day and night. However, wind is an unpredictable energy source. Turbines are also quite noisy, and, like solar panels, require a lot of land space thus don’t make sense for densely populated areas.
Ultimately, solar panels are the more powerful and predictable source of energy. They require less space, are less noisy, and can be installed on rooftops, etc. in densely populated areas.
Wide Range Of Solar Products
Another massive advantage of solar panels is the huge range of different solar panel products available.
There are solar panels that are built for performance for those people who are looking for a high-end system to perform for a long time.
For homeowners who are looking for a good budget system then there is a massive range to be browsed from as well.
Thermal solar panels are also available for people who spend most of their energy on heating and want to use solar to help lower the cost.
Solar panels can be purchased with an all-in-one battery system for homeowners who need to store their power to use at night instead.
Having this wide variety of options comes as a massive advantage for homeowners as they can get solar panels specific to their requirements and needs.
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Solar Can Pay You Money While Youre Earning Back Your Investment
Due to a number of awesome solar incentives in the U.S., solar panels can actually turn you a profit in addition to generating bill savings that pay off the cost of the system. Solar renewable energy credits and net metering are two key advantages of solar energy that allow you to earn bill credits as your solar panel system produces electricity. In these scenarios, you are being compensated for the electricity that your solar panels generate. If you live in a state where either of these incentives apply, you can expect both immediate and long-term returns from your solar investment.
Limitations Of Solar Energy
For each decision, there are benefits and losses. Below we will also consider the disadvantages of installing a PV system with a solar energy storage system.
Energy efficiency is poor compared to other sources of energy. The relationship between the amount of energy received and the amount of electrical energy obtained is low. Especially compared to other energy sources like nuclear.
Economic cost compared to the other options . Especially in large solar power plants, the initial investment is high. Solar installations have an estimated duration of 20 years.
Performance depends on the weather. For example, in areas with generally cloudy skies, performance is very poor.
Limitations during the day. Daylight hours are shorter in some areas. Another limitation is the inclination of the Sun relative to the surface of the solar panel. In certain regions, the inclination of the solar radiation is not adequate.
Storage limits for generated energy. Because the hours when you can get electricity do not always coincide with the hours you need. For this, in a photovoltaic installation, there are solar batteries and hot water tanks, but the efficiency is still very low.
Some plants can have any kind of environmental impact. Although solar energy is considered clean energy, it also contains elements harmful to the environment. Impacts linked to land use, water consumption, materials used, etc.
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Solar Energy Doesnt Work At Night
Thanks, Captain Obvious! But seriously, you have to consider the reality that your rooftop solar panels wont create electricity at night. Yes, a tiny fraction of sunlight is reflected off of the moon and absorbed into the solar panels, but its essentially pitch black at night. And when theres no light, solar panels dont produce electricity.
This becomes especially relevant if you want to be completely off the grid and have your home 100% powered by solar panels. If you arent tied to the electric grid, you need energy storage devices to house the energy your solar panels produced earlier in the day so you have power at night. Otherwise, youll be lighting oil lamps to illuminate your home.
Solar Panel Installations Can Be Expensive
As weve mentioned in a previous blog, investing in home solar panels is a bit like buying a car. Rooftop solar panels are a sizable investment. But, if you do your research, test drive a few, and make a smart and informed decision, your investment will provide great returns for many years.
However, for some, the end result might not be worth the investment of time and money, which is totally understandable. Even with the reduced 26% investment tax credit credit, the average price a solar installer charged $20,00010 for a 10 kWh system in 2021.
This is why we offer solar electricity plans for people who still want to benefit from going solar but cant afford the initial cost of installing panels.
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Lower Cost Through Tax Credits
If you feel strongly about buying solar panels but are worried about the cost, there is some good news. First, the federal government offers a Clean Energy Credit of 30% when consumers purchase solar panels for their home. To give you an idea of how much savings that could mean, you would receive $4,500 back with your tax return on a $15,000 solar system.
In addition to the federal tax credit, there are credits, rebates, and other incentives for state and local governments. For example, some states offer property and sales tax exemptions for solar panels, while others allow net metering, where homeowners can sell their excess solar energy back to the grid.
If you think the advantages of solar energy overpower the disadvantages, explore SaveOnEnergys additional solar guides to learn more about how to navigate the solar industry.
Increase The Value Of Your Home
One of the best advantages of solar energy is increasing the value of your home. As a general rule, investing in your home increases your quality of life alongside the value of your home. This is true for kitchen renovations, door or window renovations, and of course, the installation of solar panel systems.
Solar panels can increase aesthetics for a home, making it look technologic, energy-efficient, and at the same time making it partially or fully energy independent. Some studies suggest that homes with solar panels can increase their value by 4.1% in the real estate market, while others suggest an overall value increase of $4,020 $5,911 by each kilowatt-hour installed.
This property value increase allows homeowners to make profits from their investment when moving out of their homes. While many consider this a benefit, others worry that the increased value means a higher property tax. There is no need for worrying since there are tax exemptions in place for most states.
The usual rule for the increasing value of homes is that the higher the value, the higher the property and sale taxes. But this is not always the case with homes with a solar panel installation. States like Arizona, Colorado, Florida, Iowa, Massachusetts, and others, have a solar incentive that fully exempts homes from an increase in property and sales taxes by the added value of solar panels at the home.
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Constellation Energy And Solar Energy
When weighing the pros and cons of solar energy for your home, there are additional options worth considering. Community solar projects are a great way to get the advantages of solar energy without buying and maintaining a system yourself.
If your home and roof wont support solar panels or if you dont have enough money to invest in one, community solar might be your answer. With this option, you agree to participating in a program that allows you receive credits for every kWh generated by the solar facility. You get a credit on your electricity bill proportional to your percentage of ownership in the projects energy.
Residential
Future Outlook For Solar Energy
In order for solar power to make further gains, the efficiency of solar cells will have to go up, and the price of solar cells will have to go down. The EIA expects nearly 100% increases in solar capacity in the U.S. between now and 2015. This will likely lead to a drop in prices as increased demand stimulates greater production. Meanwhile, there is a wide variety of research focusing on improving solar cell design and working with new materials to make solar cells cheaper and more efficient.
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Solar Can Drastically Reduce Or Eliminate Your Electric Bills
This top benefit of solar panels is pretty straightforward when you install solar power for your home, you generate your own electricity, become less reliant on your electric utility and reduce your monthly electric bill. A solar panel system typically has a 25-35 year lifespan, which means that you can cut your electricity costs for decades to come by going solar. Additionally, the cost of solar has decreased by more than 70 percent in the past decade, the cost of electricity has risen by about five percent, and that trend in rising electric cost is expected to continue. Going solar can help you gain control in the face of these rising costs. Use this instant estimate tool to get a customized estimate of your long-term electricity bill savings and review personalized projections for up-front cost and 20-year solar savings.
Solar Panels Require Space
Solar panels require space in order to meet energy needs. For residential installations, a roof will almost always have enough space. However, when you look at large grid-scale solar installations, space can be a bit of an issue.
This is because solar panels have a lower power density. Power density is how much power can be derived from an energy source within a certain area, measured in watts per square meter . The power density of solar panels is low compared to those of fossil fuels.
This means that you need a larger area of solar panels in order to produce the same amount of energy that a coal plant would. However, the amount of land that was mined for fossil fuels is not considered in this measurement.
So although you would need a large solar power plant and a small coal plant, the mining of coal destroys acres upon acres of land, whereas the solar power plant does not.
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