In the past, solar power was only a viable option for those living in remote areas. But now, with advancements in technology and increased demand for renewable energy sources, more people are turning to solar panels as a way to reduce their electricity bills and carbon footprint while still being connected to the grid. Let’s take a look at the benefits of solar panels in homes.
Benefits of Solar Panels in Homes
One of the biggest benefits of solar panels is that you will be able to save money. This is because solar power is clean, a renewable energy source that doesn’t require fuel or generate any kind of pollution. This means that you are not only helping the environment but also yourself by being able to receive electricity bills which are lower than usual.
Freedom from centralized grids
By using solar power, you are essentially getting rid of your need for purchasing electricity from the centralized grid. This helps you to take back your power and independence in this regard. The only way that someone can cut the electricity supply coming into your home is by physically breaking into it or by poisoning it – which means that you will never have to be scared of someone cutting off your electricity.
It is not that costly
Solar power is not that costly in the long term. Of course, the initial set up costs are a bit high but then for next 20-25 years you can enjoy free electricity from it. So even if you are worried about the initial costs, don’t worry – it will not take that long for the investment to pay off.
Increase your property value
If you ever wanted to sell your home, the best way to go about it is by increasing its value. One of the biggest benefits of solar panels is that it will increase the resale value and hence help you in achieving this goal.
Contributing to a better environment
When you install solar panels on your roof, you may not be able to completely achieve energy independence. But the good thing is that they will reduce the amount of pollution and greenhouse gas emissions which go into our atmosphere each year. So it is a great way of fighting global warming and improving the environment as a whole.
Rebates & Incentives
There are incentives that can help you save even more money. You can also receive tax benefits as well as an increase in property value – all of this helps to reduce the installation costs and make it easier for everyone to afford.
Another benefit is that solar power systems are very easy to install and maintain. If you ever need any help or work done on them, you will find that it is not as costly as one would expect since the entire process is relatively simple and quick.
And for those who are worried about the panels not performing as expected, there is no need to worry since they come with guarantees.
Energy Production during Peak Hours
They help you avoid peak hours of energy consumption. This means that you can always rely on them to work during times when electricity prices are at their highest – which helps in saving money and being more eco-friendly.
You have the option to sell excess energy back to the grid
You have the option to sell excess energy back to the grid at a fair price. This means that you can always use the electricity from the solar panels to help power your home and even make money in some cases.
The fact that you can use solar power to meet your electricity needs at all times is something which is worth investing in. You can even consider using it as a source of income since you can use the energy to charge up batteries and sell it back to the grid when there is a demand for it.
Disadvantages of solar panels in homes
Even though the benefits do outweigh the negatives, here are a few disadvantages of solar panels in homes.
They are expensive to install. Since the initial cost of installing these panels is high, many people may not want to invest in this idea. But the good thing is that you will see results in the long term and there are incentives that can even help reduce your installation costs.
Inadequate backup systems. Along with solar energy comes batteries which will store excess energy for later use – or when sunlight is not available. These batteries are also not very efficient and tend to wear out over time.
Uneven distribution of sunlight is another problem. Even though sunlight does incentivize the use of solar panels, there are times when it gets too cloudy or not enough light reaches your home – which can affect how well these panels work. This is one reason why you need to have multiple systems set up to ensure that your home will have enough electricity no matter what the weather is like outside.
How long does it take for the return on investment period to begin?
The time period is between five and ten years from the day that you install the system. In this time, you will be able to reduce your electricity bills by a huge amount and hence see returns on your initial investment.
Do solar panels increase property value?
Yes, it is one of the biggest benefits of buying a solar power system for your home – as it increases its resale value and helps you make money.
Are solar panels expensive?
Solar panels are definitely not cheap. But the good thing is that they last for decades so you do not have to worry about maintenance costs or any other additional expense in the near future.
What is the average electricity bill saving by using solar power?
The average savings which you can experience with a proper solar energy system is about $500 per year, per kW of power. This is a significant amount and can help you offset the initial cost of installation within just a few years with the money which you save every month with lower electricity bills.
Are solar panels tax deductible?
Yes, they are definitely tax deductible. You may be able to even get a rebate for up to 30% of the amount invested in the panels by you.
How much does solar power cost?
It depends on how big your home is and its energy needs. If you are looking at installing it for the whole house, expect to pay around $25,000 for a 5 kW system. However, if you want to only install it for certain parts of your house like the kitchen and living room, you may be able to get it done for around $7,000.
Do I need to install solar panels on my roof?
No, you do not have to. The good thing about solar energy is that it can be used in many ways – including powering things like water heaters and pool pumps.
All you have to do is invest in the right parts which are compatible with your energy needs.
How much does solar water heating cost?
The price of solar water heaters varies greatly due to their size and design. Expect to pay anything between $3,500 and $8,000 for a proper system.
What is the payback period on solar panels?
The most important factor which you have to take into account when doing an estimate of how long it will take for your system to pay itself off with lower electricity bills is the cost of the entire project. If you are looking at investing in solar panels which have a price of $5,000 each, the payback period will be around 10 years.
Solar energy is the future, and it’s never been more important than now to invest in solar panels for your home. The benefits of owning a system are innumerable – from increased property value to reduced dependency on centralized power supply, lower electricity bills, and much more.
If you’re looking at investing in solar panels for your home or considering how best to offset the high cost of installation with long-term savings on expensive monthly electric bills, you should definitely look into solar energy.