Are Solar Panels Worth the Investment?

Are Solar Panels Worth the Investment?

Are you making eco-friendly changes to your home? One way to make your home more environmentally friendly is to invest in solar panels. Despite the initial cost, solar panels can save you money in the long run. Interested in making these changes to your home? Here are the pros and cons of investing in solar panels.

Pros
There are many advantages for upgrading to solar panels. The best advantage has to do with your savings. If you have solar panels, you’re receiving free energy. This means that solar energy can be used in place of energy you would normal get from your electric company. This can save you a lot of cash on your monthly bills.

Another advantage of solar panels is that you’re making your home more eco-friendly. Relying on other types of energy can have a negative impact on the environment whereas solar panel energy is very “green” and good for the environment.

The Sun is also pretty reliable so you know that your power source isn’t going to disappear any time soon.  You know the sun will rise tomorrow and the day after that and the day after that.  Panels still generate significant amounts of power even on cloudy days so unless you live in the Arctic you will be able to generate power all year long.
Cons

One of the biggest disadvantages of upgrading to solar panels is the cost associated with this upgrade. Upgrading to solar panels can cost thousands of dollars out of pocket, making it hard to do if you’re on a budget. Even though solar panels pay you back in free energy, it takes time in order to recoup the initial cost.  You may also qualify for rebates or tax incentives on the installation of the panels depending on where you live.  This also means that you will want to be sure that you will be living in your home for awhile to come. 

To generate the most electricity from solar panels, your roof should ideally be south facing and pitched at an angle of around 30 degrees.  Although the panels will still generate electricity, if your roof faces another direction the power generated from the panels will be less.

Things to Consider

  • When evaluating the worth of solar panels you will want to consider the following:
  • Your average cost for electicity
  • Are you charged for time-of-use?  If so solar panels generate the most power during peak times so you would be saving more money!
  • The age of your roof.
  • Any obstructions causing shade on your roof.
  • Angle & Direction of your roof.
  • Are there solar rebates, metering, or other solar incentives available to you?

 

My Verdict

If you’re thinking about upgrading to solar panels, then you need to weigh the pros and cons. We definitely recommend upgrading to solar energy if you live in an area that would allow you to generate income from the solar power. Even if you use only partial solar energy, you’re saving yourself a significant amount, as well as lessening your environmental footprint.

8 thoughts on “Are Solar Panels Worth the Investment?

  1. We would like to, but, yes, the cost is prohibitive. Plus, if you live in an area where it gets above 85°, you will find that solar panels are not as efficient. It is a proven scientific fact that solar panels make less energy as it gets hotter, but they are much better than the bird killing wind generators. (Frankly, wind generators should be outlawed since they kill so many of our birds of prey.)

    1. Ugh Don’t even get me started on wind power! My uncle lives in an area where farmers have rented out their land to have them installed and when they are running it literally sounds like there is a jet in his backyard. I can see why people who live near them acquire mental health issues…

  2. I did investigate this whilst living in Germany about 10 yrs ago, where there were good payments from the government to encourage people to do it. However, at the time it was still a big investment and I was told that the solar panels needed replacing about every 10 yrs – that might be better now but I can’t invest the sort of money that is needed for solar energy.

    1. The panels now come with a warranty of 25-30 years but are intended to function much longer than that. The warranty runs out at that point because they lose some of their efficiency over time – at about a half percent a year. That means in 25 years they’ve lost 12.5% of their original power but still retains 87.5% power output. In other words, a 10 KW system is now a 8.75 KW system. You would not have to replace it at that point.

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