The Pros and Cons of Investing in the Top Solar Panels

Solar technology is everywhere these days and is one of the fastest-growing markets in the US. Solar panels are available for both residential and business sectors. With lower electric bills as its main benefit, it can be hard to say no to making the switch.

However, a renewable energy supply is only the tip of the iceberg. Transitioning to solar power is a long and arduous process. Depending on your situation, switching to solar energy may not even be a viable option for you.

The benefits of investing in top solar panels are undeniable, but there are still a few things that can hold you back. This guide covers a full breakdown of the pros and cons of installing solar panels. Read on to find out more and discover if solar energy is right for you.

Pros of Investing in Top Solar Panels

Solar panels offer numerous benefits for sustainable home and business owners. Here are some of them:

Long-Term Investment

Switching to solar energy is a long-term investment in your financial future. Americans spend an average of $122 monthly for electricity alone. That money could instead go to food, healthcare, or saving up for retirement.

Solar energy enables home and business owners to generate their own electricity. This provides some more room to save. Depending on your state and the size of your home, you can save up to $30,000 over the course of 20 years.

Top solar panels can also improve your home’s value. Keep in mind that the monetary increase will differ based on several factors, including your location and the home’s original value in the real estate market.

Become Energy Independent

Energy prices are at an all-time high due to the rising inflation rates in the US. 20% of American households were late or missed payments on their utility bill in the last year. Not being able to pay a bill often results in worrying that you’ll get cut off.

Investing in solar panels can help you achieve energy independence, so you never have to worry about this again. Power outages never happen at a convenient time. The last thing you want is the power to go out while in the middle of work or in a cold winter.

Solar power gives you more control over your power system. This is ideal for people who want to live off-grid.

Reduce Your Carbon Footprint and Help the Environment

One of the best parts about solar energy is that it’s renewable. Electricity comes from sunlight, which is readily available to most people. Solar power generates electricity without releasing harmful emissions into the environment.

There is some carbon footprint involved with the production of solar panels. However, it is still 20 times less than the carbon footprint of traditional power sources.

Earn Money Back and Get Tax Benefits

Investing in top solar panels can also help you earn some money back. People who use solar panels help the grid and get generous rewards. Some states offer net metering.

In net metering, a utility company will compensate a household if their solar panels produce more than their home’s needs. Some companies also offer SRECs or Solar Energy Credits. This allows solar power users to earn credits for each MWh or kWh their home produces every hour.

However, Solar Energy Credits are only available in some states. If you live in the northeast, it’s worth looking into.

Cons of Solar Panels

It’s clear to see that solar energy can provide numerous benefits. But the reason why people aren’t hopping onto the solar train isn’t because of laziness. Unfortunately, there are also some disadvantages to solar panels.

Here are some reasons why switching to solar isn’t feasible for some home and business owners.

High Up-Front Costs

While solar energy can help reduce utility bills, the upfront cost is nothing to scoff at. Solar panels are a huge investment, especially if you want to become fully energy independent.

Getting the equipment, installation, and panels themselves can reach up to $20,000. If you’re curious about solar panel installation, click here to learn more now.

In addition, you will need to purchase batteries to store your solar energy. Solar energy can power homes at night, but only if you have the proper storage system. Otherwise, you will only be able to enjoy your solar energy throughout the day.

Not Compatible With All Home

Rooftop solar panels can only accommodate certain architecture. If you have cedar or slate tiles, installation can be tricky. Apartment buildings such as apartments for rent in coral springs fl also have rooftop additions like decks or skylights, which can get in the way of solar panel installation.

It can also be difficult to transport if you plan on moving to a new home. Solar panels can improve your home’s value, but you must endure eight to nine years for the payback period.

If you want to take your solar panels with you, you will need to dismantle them from your roof and re-install them on your new property. This can damage both the panels and your roof.

Installation Can Get Complicated

Solar panel installations often require the help of a solar contractor or installer. If you try to do it yourself, you risk damaging your home or the panels. Most states also require local permits to connect your solar system to the grid.

People who live in urban settings or places with limited space will also have trouble setting up a solar system. Solar panels need a generous amount of space to keep everything running smoothly. If you have limited roof space, a solar system might not be right for you.

Find Out if Solar Is Right for You Today

Top solar panels provide a great way to become less reliant on fossil fuels. However, solar energy isn’t perfect – at least not yet. It helps to know what you’re getting into before transitioning to solar power.

Use this guide to determine whether solar energy is the right choice for you. If you liked this article, check out our other blog posts to learn more about renewable energy resources.