Solar panels are an investment, but you can recoup the initial cost – and more – in the years
to come.
Going off the energy grid
is becoming an increasingly popular option, with about 600,000 U.S. homeowners
enjoying solar panel energy, according to the Solar Energy Industries
Association (SEIA), and many more solar systems operating worldwide.
You can feel good about
helping this planet move toward sustainable energy sources. Nonrenewable
energy-produced electricity sources pollute the earth, but solar energy ensures
clean renewable energy.
Because solar panels have
become more popular and technologically advanced, the manufacturing price has
dropped, so it’s not just for wealthy homeowners anymore.
Is solar energy the right
choice for you? Consider things like your home’s location, how long you’ll
remain in your home, whether you want to own or lease your panels, your present
electric bill, and financial incentives that may be available.
What are Solar Panels and How Do They
Work?
Solar panels are made
from tempered glass. They’re installed on a rack system on your roof and an
inverter system generates electricity for your home, potentially eliminating dependence on your local electricity
company. Your system may include a bi-directional meter that measures the power
produced and the amount you use. You may be able to sell any excess power if
your local electric company participates.
The monitoring system lets you see the amount of energy your panels produce daily (and over time) and also notifies you if there’s a problem with a panel.
Pros of Solar Panels
There are a plethora of
reasons to go solar, including reducing your carbon footprint and saving money.
Many countries rely on fossil-fuel-produced energy, including coal and fuel.
Producing electricity from those fuels is expensive. So is the cost of building
new nuclear-powered plants. Those increasing costs are passed on to you.
Solar
Saves Money
If you dread paying your
massive monthly electricity bill, solar is definitely an option. Solar could drastically reduce
your dependency on your present electric supplier. Installing a solar-powered electric system now could mean your future electric bills could shrink,
especially once you’re no longer paying for the cost of the panel system.
You may even be able to
make some money from your solar panels. Check with your government and your
electric company to see if they have a buy-back energy metering program and
solar renewable energy credits. These kinds of programs let you bank money (or
receive credit on your electric bill) while your system generates electricity.
You could be paid for extra electricity your panels produce.
Low
Maintenance Costs
Solar rooftop panels
require little maintenance, especially if they’re tilted. They may need a light
cleaning every few months to remove dirt, leaves, and other debris using a leaf
blower or garden hose, and you may also need to clear panels after a heavy
snowfall. Panels installed on the ground are even easier to keep clean because
they’re on your level.
Solar panels are sturdy
so they can weather storms and even hail, but you’ll still want to have a
warranty or homeowner’s insurance in case you need to repair or replace any
storm-damaged panels.
Reduce
your Carbon Footprint
Solar energy is clean and renewable, the perfect way to reduce the atmosphere-damaging carbon
dioxide emissions coming from your property. Producing solar electricity
doesn’t create pollutants and is even more earth-friendly than nuclear energy.
Your choice to transition
your home to solar energy also helps lessen the need for – and the dependency
on – fossil fuels.
Solar Considerations
There are some things to
consider before you jump on the solar bandwagon. For instance, how long do you
plan to stay in your home? How long will the panels last, and how much should
you budget for buying or leasing?
Solar energy isn’t a
get-reimbursed-quickly system. Instead, it’s a long-term
investment so consider how
long you’ll live in your home. It could take seven or more years for you to
recoup the purchase cost through energy savings.
Another thing to consider
is the condition of your present roof. You’ll have to remove the panels and put
them back when you replace shingles on your roof. Therefore, if you’re
considering getting panels, take a good look at your roof. If it has seen
better days, you may want to replace it before you install solar panels.
How
Long do Panels Last?
Panels are made to give
you years of dependable electric service and can last from 25 to 35 years. You
can enjoy energy-saving benefits for quite a while before you need to replace
them.
Installation
costs
Look for a professional
company to install your panels. The cost of both panels and installation vary
according to your system, region, and the location of the panels (on a roof or
on the ground).
Can
Your Roof Hold Solar Panels?
Before signing up, do
some homework on your own roof’s age and materials. Installing solar panels
consists of mounting a connected racking system directly onto your roof, and
not all roofs are suitable. Roofs on homes that are historical (or are older),
those with slate or cedar tile roofs, or homes with skylights or roof decks are
difficult to fit with racking systems. There could also be concerns with roof leaks
because the racking is screwed directly onto your roof.
If your roof isn’t a
candidate for panels but you have the room in your yard, you can have panels
installed on the ground. If neither of those locations is an option, you can
research whether there’s a local community “solar garden” that you can
participate in.
Climate
and Weather
The amount of sun that
hits your roof and its orientation to the sun can impact how much energy your
solar panel system generates each day. The more sun (and less shade) your roof
has, the more energy those panels can produce. This is great news for
homeowners in high-sun regions.
Solar panels can lose a
small amount of their efficiency in climates whose heat rises above about 90
degrees, though. You can keep track of how weather affects your panels through
the monitoring panel.
Don’t
Forget Insurance
Installing solar panels
on your roof may increase – or decrease – the cost of your homeowner’s
insurance. This is something to discuss with your insurance company before you
have panels secured onto your roof.
Cost of Solar Panels
The cost of installing
solar panels will depend upon the location, the number of panels, the size of
the system, and other factors. Remember that the more electricity you normally
use, the sooner you can recoup your investment by going solar. If you know your
current energy usage, you can calculate how much you’ll need to budget monthly
for solar panels.
Leasing
vs. Buying
There are a couple of
ways to start taking advantage of this earth-friendly “off the grid” energy
source: you can buy your solar panel system outright or you can lease it. Both
ways have pros and cons.
Why
Lease?
Some homeowners choose to
lease their solar electric systems. Leasing lets you go solar without the big
up-front costs. If you don’t have thousands of dollars for a down payment, you
can lease while still helping the environment and lowering your electrical
bills.
Leasing lets you install
solar panels and start saving right away. You may have numerous finance options
when leasing. For instance, you can pay the leasing company for the equipment
and use as much energy as you want, or you can pay the solar company based on the monthly kilowatt-hours used. Some leasing companies also offer the option of
buying the panel system at the end of your lease. Financing and leasing options
will vary depending on where you live.
Another advantage of
leasing solar panels: you won’t have to fix them if there’s an issue. The
company you lease them from should do the maintenance and repairs, depending on
the terms of your lease.
Down
Sides to Leasing
While there are definite
pluses to leasing your solar electric system, there also are some drawbacks to
ponder.
Solar leasing contracts
can last up to 20 years or longer. Also, you probably won’t get any tax
benefits or rebates (if wherever you reside offers those) by leasing versus
owning. In addition, you’re locked into having equipment on your roof that
belongs to a company, not you.
All in all, you still
should save money by leasing while doing your part for the planet.
Advantages
of Owning
There are definite
advantages to owning your solar panel system rather than leasing. One of the
biggest pluses is that many governments or electric companies offer incentives
for installing this green energy source.
Owning your own system
also means you’re not tied to a year-long contract. You own the panels instead
of someone else owning the panels. Also, if you decide to sell your home,
having a solar energy system can be a great selling point and increase the
home’s value.
Disadvantages
of Owning
There are some negatives
to buying your own system. The most obvious disadvantage is the up-front
investment required. If you buy, it may take some years before you break even,
depending on how much your electricity bill is now. If you normally don’t have
a hefty bill, it will take longer to recoup your costs. If your normal
electricity bills are high it could be less time, depending on the cost of your
system.
If you own your solar
panels and monitoring system, you’ll be responsible for maintaining and
repairing (or replacing) when parts fail or need work.
Solar is the Future
Installing solar panels is an enticing, Earth-friendly option, but it’s wise to consider all factors before taking the plunge. Solar energy system installation and material costs are decreasing as technology and production methods improve, so it’s becoming an appealing alternative to expensive electricity. It is definitely an investment, but worth adding value to your home as you help make this a greener planet.
This article was originally posted on Porch.com.