The Truth About Solar Panels: Are They Worth the Investment? Here’s the Honest Answer

are solar panels worth the investment

Did you know that 40% of new electricity-generating systems came from solar panels in the US?

Do you find yourself wondering, are solar panels worth the investment? Not to worry! We are going to break down why this is a sustainable and useful source of power that will save you money.

Want to learn more? Keep reading!

What Are Solar Panels?

Solar panels absorb sunlight with photo-voltaic cells. This generates direct current energy and converts it to usable alternating current power.

It’s completed through inverter technology. Alternating current energy flows through the home’s electrical panel.

How Much Do You Pay for Electricity?

Knowing how much you pay with your current bill will show you how much you’ll save. By installing solar, your rate could go down a lot.

You pay for every kilowatt-hour (kWh) of electricity you use. The cost depends on where you live in the country. Some parts you will pay 8 cents per kWh and some pay 20 cents and higher.

When going solar, you will install a mini power plant on top of your roof. This will replace the power plant where your utility gets the electricity. Homeowners with high electricity bills will save a lot when they switch to solar power.

How Much Do Solar Panels Cost?

Installation costs vary depending on which solar company you choose. Also, the equipment costs will differ. Choosing cheap solar panels might seem like a cost-effective choice.

In twenty years’ time, though, your savings will be higher if you choose higher quality equipment. Take the time and review the equipment options. Find the right combination and quality for your home.

Research solar rebates and incentives. There may be some available for where you live. This could cut your net cost down to fifty percent.

The federal government offers a solar tax credit. Some states have financial incentives for their residents. Find out what’s available.

How Do Solar Panels Work?

Solar panels have a metal frame, a layer of silicon cells, and a glass casing. They have wiring to allow current to flow from the cells.

Silicon is a nonmetal with conductive parts. This will enable it to absorb and convert sunlight into an electrical current.

When light interacts with a silicon cell, electrons move, generating electrical current. This is the photovoltaic effect. This is how solar panel technology works.

A glass casing offers protection for the silicon cells. Beneath the glass, the panel has a layer of insulation and a back sheet. This protects against humidity and heat dissipation.

Insulation is important because temperature increases lead to a decrease in efficiency.

Did you know that solar panels have an anti-reflective coating? This increases sunlight absorption, allowing silicon cells to have increased sunlight exposure.

Renewable Energy Helps Everyone

Pure energy from the sun moves through the solar power system. By installing solar panels in your home, you are combating greenhouse gas emissions. This reduces our dependence on fossil fuel.

Traditional electricity is from natural gas and coal. Fossil fuels burn to produce electricity. Yet, they release harmful gases that create air pollution. They aren’t good for the environment, and they also are a finite resource.

Thus, the price is fluctuating all the time. It can increase in a short period of time. You may have seen this happen with gas prices. One day they are reasonable, and the next day, they have soared.

Renewable energy improves public health. Natural gas and coal plants produce water and air pollution. If you replace fossil fuels with solar power, you can reduce early mortality as well as health care costs.

Fossil fuel production requires considerable water resources. It causes water pollution whereas solar energy doesn’t need much water to operate. Solar power doesn’t strain water supply.

Buying or Leasing Solar Panels

You can buy or lease solar panels. If you have money to pay for the solar panel system, you will save money over time. Your savings could be in the tens of thousands.

It’s best to try and buy your solar panel outright. Most systems will pay for themselves in under seven years.

If you need to finance your solar panels, try using a home equity loan. Your house serves as collateral. Thus, there will be lower interest rates. The interest is tax deductible.

Should I Get Solar Panels in Colder Climates?

Did you know that you don’t have to live in a sunny area to gain lots of solar savings? Some states with the most installed solar panels are in the Northeastern states. These are states that have infamous cold winters.

People in this region get solar panels because there are local incentives for them to do so. The cost of electricity is high, so it’s worth it for them.

Will the price change depending on the state or area? How much are solar panels in California versus other states? Be sure to do your research.

When Should I Get Solar Panels?

Some people may argue that the technology isn’t advanced enough yet to install at home. But, there have been many innovations in the past couple of decades.

Renewable energy and solar panels are now offered to everyone. You can even build them into your home when constructing a new house. Or you can have them installed in your existing home. Both ways work well.

Power Grid Will Have Improved Security

A significant benefit of solar panels that has a direct impact on the power grid is efficiency increases. In case of a voltage dip or blackout, the power grid remains secure.

Solar power from millions of energy-production centers improves the power grid.

Are Solar Panels Worth the Investment?

Along with the information we’ve gone over here, you can ask your family a few questions to help determine if going this route makes sense. But the combined energy and monetary savings you’ll get with solar panels often make this investment worth your while.

Want to Learn More?

Are solar panels worth the investment? Well, solar panels reduce your electricity bill while also increasing value in your home. So, knowing that, you can decide whether they’re worth it for you and your home.

Want to learn more? Read this article we wrote about prefab homes.