With how the electricity costs keep rising, installing solar panels at home feels like a great idea. Despite the many benefits provided by solar panels, many question if it’s worth the investment or just another overhyped energy substitute.
Thanks to technological advancements, solar panels are becoming the main source of energy production for many households worldwide. The energy production tech has improved significantly, the energy-storing tech has also made huge advancements, and solar panels are as efficient as ever today.
But as with everything, they too have a few limitations. Before you go ahead with your solar panel installation plan, consider all the benefits and drawbacks of them and then decide for yourself. Looking at both sides is important when thinking of getting solar panels installed at your home.
So, let’s get into it! Let’s look at some benefits and some drawbacks of solar panels. After going through this article, you will know the answer to your question – Are solar panels worth it or not?
Benefits Of Solar Panels
Renewable Energy Source
The biggest benefit of using solar power is that solar energy is renewable. Solar energy is harnessed from the sun, and unlike most other sources of energy, we won’t run out of sunlight. Using solar panels at home means lowering your home’s entire carbon footprint and reducing the overall environmental impact your household causes.
Reduces Electric Bills
Solar energy is free! Well, apart from all the initial installation costs that have reduced significantly over the last few years but are still pretty costly. But after the installation, your solar panels will pay for themselves in a few years by saving you money on electric bills. It takes approximately six years for solar panels to pay for themselves by producing free electricity completely. And after those six years, you can start earning money without having to do anything!
Low Maintenance Costs
Solar panels don’t require any or a lot of maintenance. They only need to be kept clean and dust-free. Washing them once a month or a couple of times a year is enough for them to run efficiently. After you have spent on the initial purchasing and installation costs, you don’t have to worry about maintenance or repairs for many upcoming years.
Drawbacks Of Solar Panels
Installation Is Expensive
Solar panels are still a huge investment for most. The initial costs are what drive most people away from installing solar panels themselves. If executed correctly, with enough research and by choosing the right equipment, your solar panels will provide great returns in just a few years. One thing to consider is as solar panel technology improves and advances, we expect these costs to decline as well!
Doesn’t Work At Night
If your home is connected to just your solar panels and not the grid, this can be a huge problem, as solar panels only produce electricity when the sun is out. You would have to install ‘batteries’ or energy storage devices if you want your home to be powered 100% by solar panels. This adds another investment to the already expensive installation costs.
Take Up A Lot Of Space
Solar panels require space. The more electricity you want to produce, the higher the number of solar panels you will need and the more space you will need. Most roofs aren’t large enough to produce the amount of electricity a home needs. Advancements in solar panels will soon solve this issue, too, as products such as solar ‘bricks’ are already being researched and developed.
Final Thoughts
Every situation is different. Does your home have enough space for solar panel installation? Does your home even get enough sunlight to make solar panels worth it? Does your city or state offer any incentives for installing solar panels?
Are solar panels worth it? Consider all of these questions and all the benefits and drawbacks we talked about before and see if solar panels are worth it or not.