This article is your complete guide to the solar energy pros and cons. The biggest pro of solar panels is the amount of money you’ll save in the long run with your freedom from the energy grid. The most important con of solar panels would be the initial high cost of startup, which could be out of reach for some homeowners. There are many more pros and cons of solar panels, which we will cover below.
Here at The Energy Professor, we want to give you the information you need to not only save money on your energy bill but to also become more energy efficient. We hope find this post helpful! And makes it easier for you to know more about solar panels. Be sure to check out our solar tool below to calculate how much you could save at your address by switching to solar panels.
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Solar Energy Pros and Cons
Solar panels are one of the most efficient ways to power your home as well as save money on your electricity bill. Homeowners in the United States are finding more alternative power sources as electricity prices continue to rise. This is where the sun’s energy shines and why it is the most popular option to save on energy. While they are becoming more affordable, they still require a hefty upfront cost of installation, which can turn a lot of homeowners away from solar power.
Installing solar panels can be feasible and beneficial, especially if your roof is suitable for effective energy capture. The potential financial benefits include savings on electricity bills and increased property value. With the payback time ranging from 10-15 years, it’s an investment that takes time and money to see your return. But it’s best if you decide for yourself if your solar investment is worth it. So let’s review the most important pros and cons of solar power.
Pros of Solar Panels
- Lowers electric bill
- Renewable & reduces your carbon footprint
- Low Maintenance Costs
- Improves home value
- Incentive programs
- Environmental Benefits
Cons of Solar Panels
- Expensive startup cost
- Not accessible to all homes
- They can be hard to install
- Weather/Daylight Dependent
- Long-term financial liability
- Space and location requirements
- Energy storage concerns
Related Post: Do Solar Panels Work on Cloudy Days?
What are the Advantages of Solar Energy?
#1 – Lower electric bill
One of the biggest pros of solar energy is simply saving money. If you are a person looking to significantly lower your energy bill you should consider solar electricity. Depending on how much electricity you can generate with your panels, you could make money back. Some solar panel owners are even able to sell excess energy back to their local utility company for profit! How much money you can make by selling your energy back to the electrical grid can vary. But on average, you could potentially make anywhere between $50 – $700 a month! Homeowners with solar panels tend to love the energy independence they bring from the grid.
You can also benefit from net metering, which is when your solar panels create more energy than you use and you get credits back to your account from your utility company.
#2 – Renewable Energy Resource
Even if there are shortages of natural gas or other fossil fuels, solar energy, as one of the renewable energy sources, can be harnessed anywhere in the world and is readily available. Of course, reducing your carbon footprint by using a renewable source of energy is also a pro to solar power. Solar panels do not release any carbon dioxide during electricity generation. While there is a slight carbon output during the manufacturing process, it is far lower than typical fossil fuels. Solar energy has a carbon footprint that is 20 times less than coal-powered electricity! While there may be some hazardous materials involved during manufacturing, the generation of energy results in zero environmental impact.
#3- Low Maintenance Cost
One of the significant advantages of solar energy is its low maintenance cost. Solar panels are designed with no moving parts, making them highly durable and capable of withstanding harsh weather conditions. The primary maintenance task involves occasional cleaning of the panels to ensure they operate at maximum efficiency. This minimal upkeep makes solar energy an attractive option for homeowners and businesses looking to reduce their energy expenses while enjoying a reliable and long-lasting power source.
There are no moving parts inside a solar panel, which leaves less room for breaks or wear and tear. A solar power system has low maintenance requirements and minimal greenhouse gas emissions. The only part that should be changed is the inverter, which needs to be replaced every 5-10 years to keep it at maximum efficiency. Maintenance costs for solar thermal systems can vary, but most owners report low upkeep. While solar panel manufacturers often offer warranties covering these issues, some homeowners spend about $300 annually on professional servicing. The typical tasks include cleaning and inspecting the photovoltaic cells to ensure efficiency.
#4 – Improves Home Value
If you ever want to sell your home, solar panel systems can significantly increase your property value. The Berkeley Lab found that homes with solar cells added around $15,000 of value. Energy Industries and Zillow have also reported that homes with solar panels can sell for up to 4.1% more than homes without them. This increase is due to the appeal of lower energy bills and a sustainable energy system.
Especially with how intense the housing market is, it is one of the more important points on our solar energy pros and cons list!
#5 – Incentive Programs
There are a handful of different incentive programs to look out for. As with most things, some are better than others. But there are two standouts in our opinion. The Solar Energy Credit and the Federal Solar Tax Credit. Insights from Rhone Resch, President of the Solar Energy Industries Association, highlight significant advancements in solar technologies, particularly in solar panel efficiency and battery storage systems. These programs are in place to encourage homeowners and businesses to install solar to reduce carbon emissions.
- Solar Energy Credits (SRECs) – A state-based program that allows homeowners to earn credits for every kilowatt hour of electricity produced from their panels. The pay varies from company to company, but SRECs can be sold for money back in your pocket.
- Federal Solar Tax Credit – Tax credit available to homeowners who are purchasing brand new solar panels for their homes. All US residents are eligible to receive the solar tax credit and it deducts 26% of the cost of installing a new solar system.
#6 – Environmental Benefits
Solar energy offers numerous environmental benefits, making it an ideal choice for those aiming to reduce their carbon footprint. Unlike traditional power plants, solar energy generates electricity without releasing harmful greenhouse gases or pollutants into the atmosphere. This clean energy source helps combat climate change and contributes to a healthier environment. Additionally, solar energy systems require little to no water to operate, unlike conventional power plants that rely on steam turbines. By switching to solar energy, individuals and businesses can significantly lower their environmental impact and promote a more sustainable future.
Related post: Will I Need Solar Panel Maintenance?
What are the Disadvantages of Solar Energy?
#1 – Expensive Startup Cost
The biggest con to solar energy is the high initial cost of them. The average cost for solar panels is about $16,000, but larger, large-scale installations can exceed $35,000. While technological advances have decreased the installation costs, it remains a significant initial investment for many households.
#2 – Not for Every Home
If your roof is heavily shaded or positioned poorly to receive direct sunlight, solar panels might not be a good fit. For optimal energy usage, they should face south with minimal obstructions. Additionally, the age of your roof may affect whether it is ready for the weight of a solar energy system. Having a professional survey your home for solar panel installation is important to make sure that your home can handle them.
#3 – Difficult Installation
On top of needing either a contractor or a solar installer to put the panels on your house, you will also need to obtain the proper city permits for the work being done. So not only will you have to find a reliable solar installation company, but you will also have to do a little extra work to ensure you’re legally putting them on your house. Because of this, it is expensive! As we mentioned above, the average cost to install a 6kW solar panel system on a 1,500 sq. foot home is around $16,000. With that being said, the price per watt for your panels could cost up to $3.5o.
#4 – Weather Dependent
On cloudy days, solar electricity production is lower compared to sunny ones. Solar energy storage plays a crucial role in maintaining power during these periods and at night. At night, panels do not produce energy, so storage solutions like batteries are necessary to maintain power.
#5 – Long-Term Financial Liability
Solar leases and power purchase agreements can lock homeowners into 20-25 years of payments. While leasing can be an option for those without upfront capital, it’s crucial to ensure terms are clear to avoid unexpected financial strain.
By understanding the pros and cons of solar energy, you can decide if it’s the right renewable resource for your home. With the right planning, solar panels can help create a sustainable future powered by an abundant energy source.
#6 – Space and Location Requirements
While solar energy can be generated in most locations, the amount of space required to install solar panels can be a limiting factor. A substantial area of land or rooftop space is often needed to set up a solar panel system capable of generating significant electricity. However, advancements in solar technology have led to the development of more efficient solar panels, reducing the space required to produce the same amount of energy. Moreover, solar panels can be installed in various locations, including rooftops, backyards, and even walls, making it feasible to generate solar energy in both urban and rural areas.
#7 – Energy Storage Concerns
One of the challenges associated with solar energy is energy storage. Solar panels generate electricity during the day, but this energy is not always available when needed, such as during the night or on cloudy days. To address this issue, energy storage systems like batteries can store excess energy generated during the day for use during periods of low energy production. While incorporating energy storage systems can add additional costs to a solar energy system, they provide a reliable source of energy and enhance the overall efficiency of the system, ensuring a consistent power supply regardless of weather conditions.
Related post: Do Solar Panels Work On Cloudy Days?
Solar Energy Pros and Cons FAQ
Q: Does Solar Pay For Itself?
A: Yes, over the past decade, solar technology has proven to offer a substantial return on investment by reducing energy usage, lowering bills, and increasing property value.
Q: How Much Can I Sell Solar Energy For?
A: On average, homeowners in the United States can make between $50-$700 monthly by selling their excess energy back to their utility company.
Q: How Much is it to Maintain Solar Panels?
A: While solar panel warranties may cover some maintenance costs, some things you’ll have to call in the professionals for. This can run you about $140 – $180 annually for each visit. This means that for the entire year, you’ll be spending about $300 in maintenance fees.
Q: How Much Can Solar Panels Add to My Home’s Value?
A: On average, a typical solar panel system can add almost $15,000 to the value of your home. That’s an average of about 4.1% of a home’s value!
Q: Do Solar Panels Affect Homeowner’s Insurance?
A: Most rooftop solar energy systems are covered by standard homeowners policies. Which amazingly for you, won’t change your insurance plan! However, you may need to increase the amount of coverage on your home to account for the cost of the system which can then raise your premium. Most rooftop solar systems are covered under standard homeowners insurance policies, although premiums may increase slightly to account for the added value of the solar array.
Q: What are the Best Solar Incentives Programs?
- Solar Energy Credits (SRECs) – A state-based program that allows homeowners to earn credits for every kilowatt-hour of electricity produced from their panels. The pay varies from company to company, but SRECs can be sold for money back in your pocket.
- Federal Solar Tax Credit – Tax credit available to homeowners who are purchasing brand new solar panels for their homes. All US residents are eligible to receive the solar tax credit and it deducts 26% of the cost of installing a new solar system.
Do you Need Cheaper Electricity?
If you’ve taken the time to understand the information on your bill and discovered you’re paying more than you’d like for your electricity, have you looked around for a cheaper deal? The Energy Professor has a wealth of information on ways to save on your utilities, including details of top deals that could significantly reduce your monthly or quarterly electricity bills.
We hope you found this article helpful! If you are looking for ways to increase energy efficiency and sustainability in your home be sure to take a look at all of the latest renewable energy options in your area. The Energy Professor helps residential and small business owners find qualified energy suppliers in New York, New Jersey, Pennsylvania, Texas, Ohio, Maryland, Illinois, and Massachusetts
