High up-front costs, weather dependence and home aesthetics are three reasons that homeowners may hesitate to go solar.
Although most homeowners with solar save money in the long run by dramatically reducing or eliminating their energy bills, solar is still an expensive investment. According to our 2023 poll of 1,500 homeowners with solar, most respondents reported paying between $15,000 and $20,000 for their system. While paying the total cost of your system upfront will result in the most savings, many installers offer multiple financing options, including solar loans and leases.
Clouds, seasonal variations and obstructions like trees can cause your solar panels to generate less energy. Additionally, solar panels do not generate energy at night when the sun isn’t out. All of these factors can cause inconsistencies in the efficiency of your solar panels.
Energy storage solutions like solar batteries can help abate these problems, as you can store your energy for later use. Most states also offer net metering, which allows you to sell back the excess energy your solar panels generate to the grid in exchange for a credit on your utility bill. Net metering credits can offset the cost of the energy you’re purchasing at night when your panels aren’t operating.
Some people prefer the appearance of a traditional roof and dislike how rooftop solar looks on a home. To address this issue, several solar manufacturers have developed solar shingles that blend into the roof and accommodate concerns about solar panel appearance. However, solar shingles are typically more expensive and not offered by many solar installers.
Three major pros of switching to solar include reducing your carbon footprint, saving on energy costs and taking advantage of solar incentives.
When you install a photovoltaic (PV) system, your panels will generate electricity from the sun, reducing your reliance on fossil fuels. The National Renewable Energy Laboratory (NREL) estimates that for every 1,000 kWh of clean electricity your solar panels generate, you save 1,400 pounds of carbon dioxide emissions from traditional energy sources. This is the equivalent of saving nearly 17,000 pounds of carbon dioxide emissions for the average U.S. household every year.
Although the initial cost of solar panels can be high, the long-term benefits can significantly outweigh the upfront investment. Because you’ll be generating your own electricity, you can reduce or even eliminate your monthly electricity costs. Additionally, as the cost of going solar has decreased significantly over the last decade, the return on investment homeowners see when installing a solar array has also increased.
Additionally, installing solar panels can increase the value of your home and protect you from fluctuating utility rates, helping you save even more over time.
Both the federal and state governments offer solar incentives like tax credits or exemptions, net metering, rebates and more as a way to encourage solar adoption. As previously mentioned, all U.S. residents are eligible for the federal solar tax Credit, worth 30% of the overall cost of your solar system. Most states and utility companies offer additional incentives that can help you save even more when installing a home solar system.
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