Should I Install Solar Panels
You should install solar panels if youre looking for a way to save on energy expenses in the long run. While upfront installation costs can be high, the cost-benefit is clear: Installing solar panels on your home is financially and environmentally responsible. Using solar power will lower your electricity bills and earn you tax incentives. Solar panels are also great investments because they add value to your house and are exempt from property taxes.
The Permitting Process Can Be Time Consuming
Many people dont know this, but before installation can occur, you need to have an approved permit from your local government office. Going solar is unlike getting a new roof or replacing your homes windows.Government restrictions can add weeks to months to a project installation. Depending on how strict your local government is and how quickly permits are approved, the process can be drawn out. Because this can be a time-consuming and burdensome procedure, we take on that responsibility by managing the entire permitting process with your local government. Going into your solar project, keep in mind that this step can add time to a project. Its important to have a clear understanding of the timeline provided by your installer and to stay in close communication with your project manager to make sure this process goes as smoothly as possible.
Solar Panels Are Inefficient
If you read a lot about the solar industry you will often hear of efficiency records being broken. There is a lot of misunderstanding about what efficiency is. It is not as if a solar panel with 15% efficiency is just not working very hard. Its easy to start to think that the ideal is supposed to be 100%.
But in fact, efficiency is simply about how much space it takes to produce the power. A 250 W panel with 15% efficiency makes the same power as a 250 W panel with 20% efficiency. The difference is the size. The more efficient panel will simply be smaller.
Higher efficiency is very important in powering small electronics because of the space issue. But a roof is generally large enough to make enough power for the average household use, so for rooftop solar it only comes into play when roof space is tight. More efficient panels are generally more expensive.
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Net Metering And Electricity Rate Design Impact Solar Economics
Another one of the disadvantages of solar energy is that it is difficult to calculate precisely the payback period of installing a solar system. This is because future energy rates and net-metering laws could change over time and are not set in stone.
With more and more utilities re-evaluating net-metering rules and rate design, the residential solar economic outlook can no longer depend on a static policy landscape like the one that helped encourage the nearly 1 million homeowners who now have rooftop solar,said Cory Honeyman, senior GTM Research analyst. Looking ahead, it is no longer a question of if but rather when and to what extent rate structures and net-metering rules will be revised.
The state of net-metering laws and other solar incentives in Maine are currently up in the air and highlight this concern. The Maine Public Utilities Commission ruled in January that net-metering benefits will decline over time except for existing solar system owners who are grandfathered in for 15 years. Meanwhile, there is a bill to expand solar incentives in Maine. The economics of a solar system are up in the air right now, making it difficult to assess projects accurately on their financial merit.
High Initial Capital Costs
Although the installation of solar panels would bring immense benefits in the long run, the upfront costs can be punitive. Depending on the company you choose to buy solar panels from, it could cost an arm and leg. Its even difficult to quantify the entire cost of installation without the help of manufacturing companies.
Some nations have introduced rebates and tax credits to enable lots of people to install solar panels, but unless you are putting some money aside for this, it can be an unbearable cost.
Also, it might take up to 10 years to 15 years before you can break even with your initial investment. Its not about how much payback period is, anything that can reduce our dependence on fossil fuels is worth trying.
However, with most governments looking to get ahead of the severe global warming impacts, they have liaised with solar panel manufacturers to dial back on solar panel prices. Today, the average cost of a solar panel is $0.65 per watt. The same solar panels were selling at $0.74 per watt just a year ago. This is a significant commitment to get everyone on board in the use of solar energy.
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Overall Advantages Of A Solar Panel System And Solar Energy
Most people can benefit from solar power. Savings from electricity bills are among the main pros of solar system. You can be a producer of your own energy.
Having a solar energy system installed in your home means that you can enjoy low maintenance costs as well as most manufacturers offering a generous 10 years up to 25 years warranty.
So, why are solar panels good? Solar panels are a cheaper source of energy. The cost of solar continues to drop. In fact, it is now cheaper than before with a 70% price drop in the past decade.
Plus, you can take advantage of the solar incentives from the government to make the installation of a solar energy system even cheaper.
With solar energy, you have the best opportunity to access modern, sustainable, reliable, and an affordable source of energy. Homeowners not only benefit from solar energy, but so do business owners.
After all, solar energy is renewable and you arent contributing to the negative impacts to the environment.
Solar Panels Cost A Lot Of Money
Electricity has always been relatively expensive and solar panels tend to follow that trend with a high upfront cost, but as for the investment, solar panels have a small-medium payback period. When purchasing the 4 8 kW DC solar panel system under average cost for electricity with a payback period of under 7 13 years, you will get more than 12 18 years of free energy, which is quite the deal.
While the high upfront cost is one of the disadvantages of solar power, this is less perceivable in states with high costs for electricity, since the return of investment period varies depending on the cost of electricity per state. For instance, solar panels at a home in Hawaii with electricity prices of 0.3274 cents/kWh would ensure a payback period 3 times faster when compared to the payback period for panels in an Idaho home with the same energy needs paying 0.0995 cents/kWh for electricity.
To ease the cost of a solar panel installation, homeowners on a budget can ask for a solar loan. These are loans with low-interest rates, allowing homeowners to install solar systems without worrying about the high upfront cost, paying the loan each month until it is fully paid. These loans can be found for states like Florida, Colorado, Massachusetts, and many others. You can look at the type of loans at your state in the Programs section of the DSIRE website.
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Not Every Roof Will Meet The Criteria For Solar
Individual energy needs, available roof space, orientation, material, and shading all factor in to determining if your home is suitable for solar. For example, a large, south-facing roof without obstructions would be ideal for solar. A system on a small, west-facing roof surrounded by tall trees may not be able to produce the same amount of energy.
Wed love to power the whole world with the sun, but well be honest if your home isnt ideal for solar panels. Luckily, community solar is available in our region. You can subscribe to a local project to virtually offset your bill with renewable energy and save an average of 10% monthly.
Solar Is Not Economical In All States
Although installing a solar system may be a wise financial investment in California, Massachusetts, New Jersey and Hawaii, the same isnt true in other states. Solar shoppers in Washington, West Virginia, Oklahoma and North Dakota wont be as pleased when they crunch the numbers.
The economics of buying a residential solar system vary widely by state, according to GTM Research. Although the solar resource of an area is a factor, there are numerous factors to take into account. Current net-metering rules, electricity rate design and incentives are all very important.
To date, the residential solar markets growth has primarily come from a handful of states where favorable rate structures and net-metering rules have set high, predictable ceilings on savings due to solar, said Honeyman.
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Solar Energy Reduces Your Carbon Footprint
Whether you know it or not, generating electricity produces a lot of carbon emissions. In the United States, electricity generation from fossil fuels accounts for 25% of all greenhouse gas emissions, including carbon dioxide, methane, nitrous oxide and fluorinated gases.1 Known as brown power, this coal- and natural gas-powered electricity enters the grid to provide your home with electricity.
Solar energy systems carve out a giant slice of the greenhouse gas emissions pie and replace it with clean energy. Photovoltaic technologies like we use at Chariot and concentrating solar power plants both produce this clean energy, making them the two most environmentally friendly energy sources we have today. Thus, when you power your home with solar energy, youre reducing your entire households carbon footprint and overall environmental impact.
At the end of 2020, the U.S. had 97.7 GWdc of solar generation capacity online, having installed more than 19 gigawatts just in the past year. Thats enough to power nearly 18 million American homes.2 In terms of emissions, the number of carbon emissions the U.S. solar energy reduces is equal to the amount of carbon stored in 2 billion trees.3
Thats 2,000,000,000 trees.
Reduces Your Electric Bill
One of the biggest benefits of solar panels is that they can provide you with substantial savings on your electric bill. Many states require utilities to offer net metering, which allows homeowners to offset their electric costs with the energy their solar panels produce.
They can then sell that excess energy to the utility. This will usually be added to their electric bills as a credit that can then be used to offset future electricity costs.
In many states, adding solar panels to your home can bring in electric bill savings of well over $1,000 per year. Residents of California who go solar save an average of $99,181 over the lifetime of their solar system!
Deterioration Potential Of Sunpower Panels
Purchasers of SunPower boards can easily access product and suppliers manufacturers warranties within 25 40 years. Yet what is actually the deal concerning SunPowers deterioration ability per annum?Some Disadvantages Of Solar Energy
All solar powers shed their capability to fetch and broadcast sunlight radiations for storage space as they age. Nevertheless, SunPower declares their assortment of photovoltaic panels will merely diminish about 0.2% every 12 months.
At such a cost, consumers may anticipate as much as 92% ability from their solar powers throughout procedures. Consistent usage of these solar powers could reduce the maximum anticipated ability to concerning 86%.
Deterioration Possible Of Sunpower Panels
Buyers of SunPower panels may access item and also producers manufacturers warranties within 25 40 years. Whats the offer concerning SunPowers destruction possibility every year?What Are Some Disadvantages Of Solar Energy
All photovoltaic panels shed their capacity to get as well as transmit sunlight rays for storage as they age. However, SunPower asserts their variety of solar energy doors are going to simply diminish concerning 0.2% every year.
At such a price, users may expect up to 92% capacity from their photovoltaic panels throughout procedures. Consistent use of these solar powers may decrease the optimum counted on capacity to about 86%.
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Cons Of Solar Energy:
Ok, so weve looked at the solar energy advantages, its time for you to get familiar with the solar power disadvantages.
As with everything, there are disadvantages of solar which include:
- High initial cost
- Uses a lot of space
- Small amount of pollution during manufacture, transport and installation
- Not ideal if you plan on moving house
- Location of solar cells
Lets take a more detailed look at each of the advantages and disadvantages of installing solar energy system:
Initial Costs Can Be High
Even though renewable energy sources have greatly reduced in cost over the last decade, buying a solar system isnt cheap. The initial cost of purchasing a solar panel system can be fairly high because you are essentially pre-paying your next 25+ years of electricity. While the savings are enormous, not everyone can purchase a system outright. Financing packages are available to allow homeowners to pay-as-you-go and start saving from month one.
A solar system includes solar panels, inverters, wiring, and installation, all of which need to be paid for upfront. That being said, installing solar avoids utility electric bills, so it more than pays for itself over time. Switching to solar with a high quality company maximizes your investment and helps you make the best financial decision you can when it comes to solar. Many banks now offer great financing options and offer free online quotes so you can have all the information you need to move forward.
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Homes With Solar Panels Installed May Improve Home Value
Home buyers will likely pay more for a house with solar panels installed. Considering solar energy pros and cons, the savings on electricity bills and the money earned selling power back to the utility, all count in the plus column. Residential solar energy systems are highly valued and can increase a home’s resale value. The property value of a home with solar panels can be worth up to $15,000 more than its neighbors.
Solar systems are fairly easy to install and require very little maintenance. Both are handled by your solar provider, if you opt for a solar lease or power purchase agreement . Consider this as you ask yourself is solar energy worth it.
Homeowners Can Become Energy Independent
The installation of solar panels to your home could allow you to become completely energy independent.
With a good enough system, you could generate enough energy to power your home without having to buy power from the grid.
Not only is this a great accomplishment, but it also means homeowners wont have to face rising electricity prices again.
Generating your own power will be save you a large amount of money. You also would not be affected if there was a power cut or any maintenance by the grid on their power lines.
Many people who have become energy independent can say that its a massive advantage of solar panels.
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Solar Power Allows For Energy Independence
If youre thinking of going completely off the grid, solar power is a natural option. Because you dont have to rely on traditional energy sources, it is possible to power your home entirely off of your own solar energy.
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Solar Panels May Not Help With Resale
For the right buyers, solar panels on the home can be a benefit. However, you dont always know who will be looking at your homeso its best not to assume the solar panels will help with resale value in any significant way.
Solar panels are also difficult and costly to move: On average, it costs $3,750 to remove and reinstall solar panels. Beyond the expense, if you remove solar panels from a home after a long period of time, you will need to repair the roof. Solar racking systems can leave holes in the roof while there may also be noticeable discoloration from the places where panels were removed.
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Fix Future Cost Of Electricity
Grid electricity cost is ever increasing. According to the U.S. Electricity Information Administration, the average nominal retail electricity price paid by U.S. residential electric customers in 2021 increased at the fastest rate, rising 4.3% from 2020.
Once the solar system is installed, one can fix the future electricity cost. This is one of the biggest advantages of solar energy.
Cannot Be Used At Night
No energy can be produced by your solar panels at night which essentially means your solar panels can only generate energy 12 hours of a full day. Without any sunlight hitting the solar panels then there will be no energy produced.
This is a disadvantage of solar panels but may be something that is overcome in the future with new technology. There are already talks about an anti solar panel that is able to produce power at night.
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Get Paid By Selling Excess Solar Energy To The Grid
Solar power generators like Chariot help lessen the strain on the energy grid by adding electricity when its needed most to prevent blackouts. What you may not know is that residents with solar panels can also help the grid and get compensated for it!
Depending on the state you live in, you have the option of net metering. When your home is net metered, you can be compensated by your utility company if your solar panels produce more electricity than your home needed at that time. Chariot, for example, buys the excess energy from our customers solar panels. Our customers get paid in the form of bill credits.