What are the Advantages and Disadvantages of solar Power?
Perhaps you’re tired of paying for power when you could simply harness it from the sun. Solar power offers a wide variety of options and you’ve likely already heard many of them through marketing or spammy ads offering free solar panels. Maybe someone has knocked on your door to discuss the benefits of solar power with you and convince you that solar power is the way to go. In order to make an informed decision for your needs, you’ll have to be able to understand the pros and cons of solar power and recognize the many myths that are out there.
What Are The Five Benefits Of Solar Power?
Keep these great advantages of solar power in mind when you’re considering purchasing a solar power system. There are a variety of benefits to installing solar power for your home or your business. We’ve compiled a list of the most important advantages for solar energy to keep in mind:
- Reduce and or eliminate your electric bills.
- Increase the value of your home.
- Reduce your carbon footprint.
- Insulate yourself from the rising cost of energy.
- Earn money back from excess power that your system generates.
1. Solar Power Can Greatly Reduce Or Even Eliminate Your Electric Bill
Generating your own electricity is a great way to save on your electric bill. You’ll become less reliant on the power grid and begin to see a reduction in the cost of your electric bill. Solar panels have an average lifespan of 25 to 35 years. This means that you can plan ahead and your system will pay for itself over the course of time if you go solar. You can use this tool to find out what your anticipated savings could be and review the projections for 20-year solar energy savings.
2. Solar Energy Improves The Value Of Your Home
Millions of homeowners in the UK want to find a way to install solar power but they haven’t yet taken the time to determine what it will take for them to install solar panels in their homes or even businesses. There are many great benefits to having solar power one of which is that it can actually increase the value of your home to have solar power. Even if you’re planning to move in the future, you can earn back your investment and then some by the time you go to sell your home. This is a great way to increase the resale value of your home. You can find out how much your home value will increase with this article on solar property value.
3. Solar Power Reduces Your Homes Carbon Footprint
As a clean and renewable energy source, solar power reduces your carbon footprint and lowers the emissions on your home’s impact on the environment. Fossil fuels such as coal and oil can lead to carbon dioxide which is a pollutant to the atmosphere and even your water supply. When compared to nuclear energy, solar comes out on the top as an environmentally friendly solution for energy.
4. Solar Power Gives You Control Over Your Rising Energy Costs
Many homeowners are stressed when their electric bill comes out, often, there’s little that can be done to lower the cost of power to your home. The cost of solar power had gone down by over 70 percent over the last 10 years. Meanwhile, the cost of electricity has increased by at least 5 percent. This trend alone is enough to put homeowners into a panic, that is unless they have solar power.
Going solar puts homeowners in the driver’s seat when it comes to renewable energy and affordability. Utilities are rapidly adapting to the rising cost of renewable energy and the government of the US is rapidly increasing its goals for greenhouse gas emission reduction. This means that now is an ideal time to become autonomous of the electrical grid and embrace solar power.
5. Earn Money Back While Paying Back Your Investment
Thanks to the great solar power incentives that are available in the United States, solar power can actually earn you money back as well as help you to save costs and pay back your investment. Solar energy offers renewable energy credits or SRECs. Net metering is also a key advantage of solar power that allows you to earn money back on your excess power and pay your loan off for your solar power system faster than ever before. If you reside in a state that offers such incentives, you can anticipate immediate as well as long-term investment returns from your solar power investment.
Are There Any Disadvantages Of Solar Power?
The top five cons of having solar power for your energy source. Solar power isn’t perfect, here are five disadvantages of choosing solar power and key tips to consider when reviewing solar panel options:
- Solar energy isn’t available for all types of roofs.
- If you’re moving in the very near future, solar power may not be the right choice for you.
- It can be expensive upfront.
- Low costs may mean low savings.
- Choosing the right solar power installation expert may be challenging.
1. Solar Panels Don’t Work For All Roof Types
Solar panels are installed by connecting the mounting system or the racking system to your roof. Not all roofing materials, like slate or cedar, for example, are as hospitable to solar power. It can be difficult to install solar panels on some types of roofing. Many apartment buildings and homes have skylights or other additions such as rooftop decking that can make it more challenging or expensive to install solar panels.
However, this shouldn’t be a barrier in the long run as many solar power companies are adapting to other means of installation. If your home has such a roof there are many great options such as a ground-mounted solar power system or buying into a share for a community solar power garden to work around such issues.
2. Solar Isn’t Ideal If You’re About To Move
Solar power is an ideal financial investment, however, it can take time for it to reach the break-even point. It’s often encouraged by industry sales representatives. It can take around 7 years for solar power systems to pay for themselves. This may be a long time if you’re planning to move shortly. While solar power can improve the property value, it will also help to increase the value when you choose to sell your home. If you have the money to buy now, great, if not, you’ll want it to pay you back as soon as possible.
3. It Can Be Expensive Upfront
There is a huge debate on how much homeowners pay out of pocket for their solar power systems. The actual out-of-pocket price will depend on tax credits, financing options, and rebates. You can determine the actual cost of solar in your state and analyze how it will work for you if you don’t qualify for a zero-down loan.
The disadvantages of solar power energy are obvious: not everyone has the cash upfront to make such an investment. There are many great financing options that will help you to work around such issues including state-backed loans and leases or purchase agreements.
4. Low Costs May Mean Low Savings
Obviously, the benefits of solar energy are that it will help to give you electricity and save you money each month thanks to your investment. However, that’s assuming that you have large electric bills to start with. In Louisiana, where it’s 25 percent lower for energy than other areas, it may not be as attractive of an option as it is in other states such as Hawaii where energy costs are nearly double the average rates of electricity.
5. Choosing The Right Solar Power Installation Experts May Be Challenging
It’s important to understand that some salespersons are way too high-pressure to fully understand that you’re signing a 20 + year contract. Many salespersons don’t explain the contract in full until after a homeowner has signed away their savings. They use aggressive sales tactics to ensure that they get your deal without disclosing all of the details. Read the fine print, shop around, don’t sign until you fully understand the contract.
This article can help you to make the right decision regarding your solar power system and the company that installs it without having to worry that you’re not choosing the right company.