The rise of food, gas, and utility is inevitable. Each year, the costs of necessities continue to rise due to increasing demand and receding resources, especially energy prices. But how can you save energy when your work and leisure activities require electricity? Aside from highly efficient lighting and roof hatches, solar panels are among the most popular energy conservation devices.
Solar radiation is the most abundant natural energy source readily available to store and use. Due to its contribution to energy savings, many homes and businesses purchase solar panels despite their high initial costs, which makes anyone wonder, are solar panels worth the expense?
Should you install solar panels?
Although installing solar panels may be ideal for reducing your energy consumption, there are some instances when they are not suitable. If you’re planning to install one, here are some considerations.
Install solar panels when you have:
- You own a property: If you plan to install it for your own house or business space, installing solar panels to help you save costs is an excellent idea. However, you still need to apply for a permit from your municipality and an inspector to come out and determine the applicable codes.
- You got a good deal for the panel: Although the cost of solar may vary in each state, the initial cost can be expensive. Do your research and compare prices to find the best deal.
- You always have a high electricity bill: if you reside in a home with many people or run a commercial space, chances are you will always receive high energy bills. If this is the case, paying the one-time installation cost rather than a considerable amount every month is best.
When not to install:
- You are renting: If you are a home or business renter, it would be best to speak with your landlord before installing a solar panel system. In addition, since it has high installation costs, it may not be a good idea to proceed if you only have short-term rent.
- You have low energy costs: Since the primary way that solar panels help you save costs is by offsetting your usage to free energy, you may not break even with your initial investment for a very long time.
- Your roof isn’t suitable: The best place to install solar panels is on the roof due to sun exposure. However, not all roofs can handle the weight of these panels. For instance, if your roof is undersized, old, has an unfavorable layout, and has too much shade, then find another place to install them, like on the ground or in other areas.
- You don’t have enough money: According to the Solar Energy Industries Association (SEIA), the 2022 average cost of these panels in the U.S. is roughly $18,600 for a 6kW unit. Meanwhile, the total cost of solar units depends on the size and ranges between $11,160 and $46,500. Find a good and reputable supplier who can offer you a special rate that won’t break the bank.
To summarize, if you have your property and have high electric bills, it would be best to install solar panels!
Is solar energy a good investment?
There are many benefits to choosing to go solar. You can enjoy monthly savings, reduce carbon emissions, and improve environmental impact. Installing solar panels requires high installation costs, so are they an excellent lifelong investment?
1. Save on energy costs
Offset high energy costs by powering your devices and lighting with solar power. Installing solar panels is highly efficient and reliable — allowing you to become more energy independent to protect you from increasing utility expenses. You can also be eligible to receive the Solar Tax Credit, which could allow you to deduct 26% of the cost of your solar panel from your federal taxes.
2. Increase property value
Owning a property is a major investment; keeping it maintained and functional is the best way to increase its value. Are you thinking of a way to increase its value significantly? Install solar panels. As the issue of sustainability is on the rise, green homes are considerably more in-demand today. For instance, solar-powered properties sell faster and attract more attention.
3. Maintain power during an outage
We are so dependent on our devices and appliances that we feel crippled when there’s an outage. They can be very inconvenient, especially if it’s unscheduled. Luckily, there are solar power storage solutions that you can tap into until the power resumes.
4. Lowers risk of electrical fire
Not only are solar panels efficient, but they can also help reduce your chances of experiencing an electrical surge. Solar power systems help your property to become less vulnerable to electrical fires. However, you need to ensure a proper installation to avoid faulty wiring.
Takeaway
Despite high installation costs, solar energy is the cleanest power source available. You no longer need to worry about leaving a heavy carbon footprint and high energy costs because it’s natural and free. It is undeniably a worthy and smart investment move as it can immediately generate savings and allow you to become more sustainable!
