Are Solar Panels Worth It
In this EcoWatch guide on whether solar panels are worth it, youll learn:
- When are solar panels NOT worth it
- What are the benefits of going solar
- How to maximize your ROI when going solar
- What to consider before going solar
This EcoWatch guide has helped thousands of homeowners make the right decisions for their home by providing them with factual, un-biased information on solar panels. Lets get started!
Why You Can Trust EcoWatch
Our solar experts have conducted hours of research and collected dozens of data points to determine whether solar is a good fit for homeowners in each state. Weve also unbiasedly ranked and reviewed hundreds of solar installers to empower you to make the right choice for your home.
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In this article, well discuss whether solar is worth it for the majority of American homeowners, but whether you should go solar will ultimately depend on your homes configuration and your energy needs. To speak with an EcoWatch-vetted professional who can help you determine whether solar is worth it for your home, follow the links below.
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Customer service varies by local dealer
- Doesn’t offer solar batteries
It Is Renewable And Clean Energy
The second benefit of solar energy is that it is clean energy. While one may argue that solar panels also generate pollution, that emissions are only limited to the manufacturing process and not after that.
As we mentioned above, climate change is real, and the harmful gasses are causing most of it. Power plants and factories emit these gasses. These gasses are harmful to the environment and the ozone layer as they are causing the rise in temperature.
Solar energy is a cleaner alternative to conventional energy sources. Solar panels do not emit any kind of gases, which is a huge advantage.
Once you set up your solar panel, you can sleep peacefully knowing that you are not playing a part in negatively impacting our climate and atmosphere. You may need to continue to test your solar panels over time.
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Why Choose Apricot Solar
Learn more about investing in solar energy
$0 Down Payment
Qualified customers enjoy zero down payment with 100% financing.26% Federal Tax Credit3
Hurry before its too late! Tax credit based on the total installed cost of solar.Potentially Save Thousands5
You may save thousands on your electric bill with solar.SMARTPWR360° Package
10 additional energy-saving upgrades to potentially boost your savings by up to 25%.4Up to 30 Year Linear Performance Warranty6
We offer solar panels with superior reliability reflected in the product warranty offered.
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Increase Your Home Value During This Crazy Market Economy
Having a solar system installed in your home is a good way to add value to the property when you decide to sell it. Some people have found an additional $10,000 in value in their home when they decide to sell it, after putting in a solar power system.
Today many people are migrating, and having solar panels can help your home value. When you have a solar panel installed in your home, the value of it goes up significantly. The more energy produced by a solar panel, the more valuable it gets.
You are going to be able to sell your home for higher value. You are creating more energy with the installed solar panel, and that’s creating revenue for you now, now during the property sale process, and now later when you decide to sell the property.
The best thing about solar is that there are no lengthy contracts with the utility company because you’re buying from yourself directly.
The utility companies don’t have any long term hold on you and all of this money stays with you. This is why the government offers incentives to homeowners to go solar and how it’s one of the best opportunities for people with little money to become wealthy today
Wrap Up: Is Solar Worth It
Under the right conditions, solar is worth it for the average American homeowner in 2022. However, its not a one-size-fits all type of energy solution. Consider the following to assess if youre a good candidate for solar:
- Access to sunlight: Does your roof have access to direct sunlight?
- Roof fit for solar: Does your roof face south or west? Does it have enough room for at least 15 solar panels?
- Existing electricity bills: If your bills are already below-average, a solar installation wont provide as much value.
- Local policy: Does your state or utility offer a net metering program? If so, what is the buy-back rate?
Though these factors can help you get a good idea of whether solar is worth it, the best way to get an accurate estimate is through connecting a local solar company. A local provider can analyze your electricity patterns, use satellite imagery to draw up a model on your roof and provide resources on prices and financing options.
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Increasing Your Homes Value
A set of solar panels can also increase your homes value substantially. One study found that buyers were willing to pay a premium of up to $15,000 for access to solar energy. This number is only expected to go up as more Americans are investing in solar each year.
The popularity of solar energy ultimately depends on your area. However, its worth noting that California uses more solar energy than any other state.
Solar Energy Costs Less Than Electricity
Solar panels have become much more efficient and effective than they used to be years ago, making them an affordable alternative energy source for your home or business. Thus, Solar lights are more affordable and last longer than CFL or LED bulbs over their lifetime. Once installed, youll only need to pay for maintenance which is cheaper than electricity bills that continue to rise every year due to higher demand. Installing solar panels will allow you to significantly reduce your overall expenses on electricity while getting all the power you need for your appliances and devices.
Recommended Reading: How Is Solar Energy Better For The Environment
Solar Outlook In The Us
Despite supply chain challenges, solar forecasts remain robust. The U.S. Department of Energys Office of Energy Efficiency and Renewable Energy reports that with aggressive cost reductions, supportive policies, and large-scale electrification, solar could account for as much as 40% of the nations electricity supply by 2035. To put that into perspective, solar only accounted for 2.8% of total energy supply in 2021.1
These forecasts would require the potential impacts of further federal clean energy policies, including a standalone energy storage tax credit, extension of the federal tax credit and an additional tax credit for families in low-income communities.2
Reducing Your Energy Bills
In a time of economic uncertainty, its important to save as much extra money as possible. Many people dont realize how expensive electricity is: about 13 cents per kilowatt, whereas solar energy costs as little as six cents per kilowatt depending on your location and setup.
Additionally, installing solar panels is now cheaper than ever. For the average home, you can expect to pay anywhere between $11,000-$15,000. While this may seem like a high-cost upfront, solar panels can last over 40 years if kept in good condition. Considering that your electricity bills will be cut in half, its also a great investment.
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What Is Solar Energy
The utmost choice for seeking to transform into green energy is Solar Power energy. It is the energy that comes from the sun which can be switched into thermal or electrical energy. Harmoniously, the sun will be shining for the forthcoming billion of years as the fairest source. So this energy will be available for the rest of our lives. This will probably help harness a variety of applications such as generating electricity, providing heat inside the house, and heating water.
According to a recent survey, it is studied that roughly 173,000 terawatts of this energy come upon the surface of Earth. Those equivalents are more than 10,000 times the total need for energy in the world. Along with that, every particle of sun rays that encompasses Earth carries a power that fuels our planets. Solar Power energy is the ultimate source that can be relied on by every weather system and other energy sources on Earth. Shortly, the energy can be stored even in cloudy or rainy weather, but the power would be relatively lower than on sunny days.
Apart from that, the solar radiation that hits the surface of the Earth every hour could be enough for almost a whole year. This happens because, inside the suns core, there is a nuclear fusion reaction. It assembles the numerous energy known as photons that radiates the sun’s outer surface in the form of light and heat. Also, this energy is a fundamental solution in battling the climate crisis and overcoming the dependency on fossil fuels.
Take Advantage Of The Solar Power Benefits
People often ask themselves ‘Why is solar energy good?‘ and, as a result, fail to realise the importance of solar technology. Solar power has evidently become the trend in renewable energy. Homeowners around the UK installed solar panels on their roof, managing accordingly to reap all the solar energy advantages.
Apart from the obvious financial benefits, there are other pertinent reasons why you should convert to using solar power instead of fossil fuels.
What other reasons should you consider when going solar? Here are seven compelling reasons.
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Why Should I Go Solar
There are many different reasons why homeowners decide to switch to solar, but the vast majority initially do it to cut on their utility bills. However, many homeowners later realize that switching to solar can enable you to control your electricity bill and increase your home value at the same time.
In several states, solar system owners can sell their excess electricity produced. This is called net energy metering. It is also worth mentioning that another reason why people are switching to solar more is due to the lower environmental impact as well as the creation of a huge amount of jobs in the United States. So a win-win situation! Whichever is your main reason to switch to a greener energy source like solar, the answers below will give you extra insight on the matter.
Top 5 Advantages Of Solar:
- Add a potential source of income
With a large price tag, the inability to control the sun, and several other disadvantages, you might wonder: How can solar be a justifiable purchase? We understand that the disadvantages of solar are real and can be a big turn-off, but were here because we have found that the advantages of solar are just as realand they may even outweigh the disadvantages. So, lets look at some of the solar advantages:
1. Eliminate Your Power Bill
The most popular reason to go solar is to eliminate your monthly power bill. By having your system sized correctly and owning your panels, you should produce enough electricity to cover the cost of your monthly bill. For the most part, homeowners with solar only have to pay a small monthly connection fee to stay connected to their utility provider.
Imagine eliminating one of your permanent bills! Having the power and financial advantage to escape from your power company is liberating, empowering, and, ultimately, makes you more self-sufficient.
2. Control the Cost of Electricity
Its no secret that electricity prices are on the rise. With every passing year, utility companies continue to drive up prices, and homeowners have no way to get around the increased bills.
3. Increase the Value of Your Home
4. Reduce Your Carbon Footprint
We all know that solar panels are part of the green movement, but how much do they actually impact the environment? Lets take a look: the average residential solar system
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Battery Storage Keeps The Lights On In A Power Outage
Battery storage allows you to store the solar power that your solar panels generate. You’ll also be able to keep your appliances running, like your refrigerator, in the event of a power outage – which will prevent your food from spoiling – saving you an extra trip to the grocery store, as well as wasted money!
You can also claim the 26% solar tax credit on a solar energy storage battery. Solar batteries and home energy storage solutions have become significantly cheaper in the last few years, thanks to improved technology.
How Much Do You Pay For Electricity
Your current electricity bill is the largest factor in determining how much youll save by installing solar. You pay your utility company for every kilowatt-hour of electricity you use, and your rate varies significantly depending on where you live. In some parts of the country, like the South, you can pay under 12 cents per kWh in others, like the Northeast, you could pay 20 cents or more. When you go solar, you reduce or eliminate your monthly electricity bill, so the amount you pay for electricity substantially impacts your savings.
If youre not sure where to start in determining your solar savings, try using our Solar Calculator. Our calculator incorporates local electricity rate data to provide you with a customized estimate of what you can expect to save, and just how quickly your investment will pay off.
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Rooftop Vs Community Solar
Even if your home or business isnt ideally suited for solar, theres still an option for you to benefit from solar energy: enter, community solar. In many parts of the country, community solar allows you to participate in a large-scale solar project to benefit from solar power thats not located directly on your property. In comparing rooftop vs. community solar, there are pros and cons to both optionsnot the least of which are the cost, the ease, and the savingsthat may make one option more appropriate than the other.
To get a feel for the differences between rooftop and community solar, as well as whether you should look into one or both for your home or business, check out this article.
Is My House The Right Fit For Solar Energy
This is probably the most important question on the list as it can directly affect the expenses and savings generated by the solar energy system.Although it is not the easiest question to answer as there are several factors and specifications to keep in mind, we listed below the three main things to consider to help you understand if solar is indeed a good fit for you and your property:
- How much sunlight your roof receives every day. If your roof has a lot of shade, then perhaps it is not ideal.Ideally, your property ticks all of the three boxes above, which then makes it a perfect candidate for solar energy. However, keep reading below to find out what other factors can hinder your choice of switching to solar.
- Your roof direction. Southern-facing roofs receive more sunlight than northern-facing ones, so its advisable to set up a solar system on the former rather than the latter.
- How much electricity costs in your area. The costlier the bill, the more money you can save when switching to solar.
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Should I Go Solar Or Not
Why should I go solar? Everyones got an opinion. And in the age of information, everyones got an opinion online. Which is handy for wasting years of your life. But not so for finding anything resembling the truth.
Thats where we come in.
See, we know a thing or two about solar. And its our mission to wade through the flotsam of speculation to find the solar facts, so you dont have to.
So, sit back, relax and pop a cold one while we answer the topic of the day:
Should I go solar?
Home Resale Value Increase
Were often asked if solar panels increase property value. Since a solar energy system is an asset just like any other, it does add to the value of your home.
However, this is only true if you own the system, rather than lease it.
A well known Zillow study shows us that homes with solar installations tend to sell for about 4.1% more than homes without.3 The value added will depend on the system size, quality and age of the installation.
As a bonus, if your state offers a property tax exemption for a solar installation, you wont have to pay the additional property taxes on the boost in property value provided by solar.
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Get Free Quotes On Solar Power
We are here to help you and best match your needs! Whether youre interested in solar energy or solar thermal or simply not sure which option is the best for you. Let us know your needs and preferences on the top of this page. We will then contact you to ask some further questions and connect you with our professional suppliers. You will get up to 4 non-binding quotes for free!
Should I Go Solar As Long As Its Your Highest Return Investment
As much as solar companies would have you believe, theres no clear-cut answer. Everyones goals and situations are different. While for some its a no-brainer, for others it should be low-down on the priority list.
Your average Californian with more sun than he can shake an ice-cream at? For sure. Your average Greenlander? Maybe not. And if you should go solar, which is the best option? Purchasing, loan, PPA or lease? Clearly, there are lots of variables to juggle. That said, there are a few foundational points wed do well to consider:
Always Put Your Money Where You Get The Highest Return, All Risks Being Equal.
Barring ethical considerations and risk, you always want the biggest return on your investment. So instead of asking Should I get solar panels? ask, Are solar panels going to give me the highest rate of return for my cash?
For example, if you can pay off an extortionate 15% interest credit card debt or go solar with an 8% annual ROI, youre going to get more from your cash by paying off the debt. Likewise, if your home is energy inefficient, spending $10k or so in halving your energy bill will almost always give you a better return than solar, and results in needing fewer panels down the line.
In all but the most extreme cases, purchasing solar panels will save you money. But before taking the plunge, ask yourself if there are things to invest in first. For most people, going solar is not a matter of if, but when.
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