Is a Solar Panel Home System Right for You?

Making the choice to install a solar panel system to power your home is a big decision! You will find yourself wondering, “Are solar panels worth the cost? What are the pros and cons? What is the price of solar panels and how much do I actually save?” Although it is a big upfront expense, there are many benefits to installing solar panels.

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Solar energy use has seriously surged at about 20% a year over the last 15 years, says National Geographic. This is thanks in part to increasing affordability, efficient solar panels, and the desire to be more eco-friendly. Solar powered systems are good for the environment and are pollution free!

First, let’s talk a little about the parts of the solar panel system. Then we can talk about pros, cons, cost, and whether it’s a good option for you!

Solar Panels For Your Home

When going for solar power, there is more to it than just the solar panels themselves. The panels are made up of squares of silicon cells. They have electrical contact plates on them. These squares are then configured into a grid with a protective back sheet and covered with glass.

The solar panels capture the energy from the sun. There is an inverter used to convert the solar power to usable energy. Solar racking is how you mount the system to the roof, ground, or other surface.

If using batteries, they are used to store the energy. Batteries are commonly used for homes that are off the grid or need to store back up power if prone to bad weather and outages. A charge controller is used to control the rate that the batteries charge.

Pros of Installing Solar Panels

In addition to the solar panels being environmentally friendly, solar power itself is the energy we generate from sunlight – which means it will always be around! It’s literally a never ending source. Every day the sun comes back to shine and gives you new, clean energy. No more buying oil, storing it, or running out of it. High electric bills can be a thing of the past. The sun can be used over and over again! Plus, as far as maintenance they need little more than a periodic cleaning.

With the use of solar power, energy can be generated in remote areas as well. Areas that normally can’t access the grid because they are too far out in the middle of nowhere, can now have electricity! This is great news for farmers & homesteaders. Or for you – if you’d like to go live in a rustic cabin in the mountains. It does sound appealing sometimes…

If you are on the grid, like most of us are, you will save money on electric bills. It’s much cheaper than paying utility companies for their power. Expect to bring your electric bills close to $0 per month! (If you have a system that is the proper size for your home and depending on how much electricity you regularly consume).

Many experts say that homes with solar power also typically sell for more than homes without it. So, your property value can increase by adding solar panels. Since it’s going to save a homeowner money in the long run and be good for the environment, it’s a great selling point. I would definitely talk it up on my listing!

Cons of Having Solar Panels

The most obvious con would be the price. It is costly up front, but can be a great investment. However, the cost of going solar drops nearly every year and financing IS available. According to the U.S. Department of Energy, solar panels can pay for themselves in just 5 years (or up to 10)!

Another obvious con is that solar panels are large, bulky, and…kind of ugly. They can be a bit intrusive, and you need the space in order to have them on your roof or property. Luckily, there are more options available now like Building-Integrated PV (BIPV). This type of system can be integrated into already existing structures like windows, awnings, facades, and roofing.

Weather also comes into affect for solar energy. The panels need a lot of sunlight in order to work most efficiently. If you live somewhere with tons of shade or it’s always rainy, snowy, or generally yucky out, solar panels may not make sense for you or bring you the most power or you may need more panels. Sunny places like Arizona or New Mexico have more peak hours of sunlight and can manage with less panels to provide for their energy needs.

The Cost of the Solar Power System

Remember that:

1. Financing is available
2. Solar Panel Home Systems can pay for themselves in as little as 5 years (or up to 10)
3. There is currently a tax credit (in most states, talk to you accountant!)
4. Solar Panels are viewed as upgrades when selling your home
5. The lifespan of efficient solar panels is around 25-30 years

Generally, the cost for the complete system including panels, installation, balance of systems (inverters, wiring, etc.), the town permits (building & electrical), and other fees ranges from $15,000 – $20,000. And up! An average cost for a 2,000 sq. ft home is about $20,000. This equates to about $3 – $4.50 average cost per watt before incentives.

Check out www.dsireusa.org, as it is a valuable resource where you can find information about programs and incentives in your state!

If you are looking to go a cheaper route, on a smaller scale, you can pick up solar panels for your home and install them yourself. Start with a few and go from there, you may be surprised how much money you can save! This way can be much more affordable.

If you are capable of installing the system yourself, you will save a lot of money as installation can be expensive. However, big jobs may be better left to the pros. The size of the system you choose or need will also change the cost and installation process.

Most reputable companies will offer warranties for 25 + years. After that they will still work, but most likely will drop in output. Many systems do outperform their warranties though! However, the inverters and batteries usually do need to be replaced at least once during this lifespan.

Is Solar Power for You?

So, what do you think? Are solar panels the cost worth for you? If you plan on staying in your home for many, many years it definitely makes sense, especially if you are off the grid. Or if you live in an always sunny climate, it’s a no brainer!

There are also some options for solar systems. Solar shingles, solar roof tiles, and flexible solar sheets are different ways to start generating solar energy. If you have a metal roof, the flexible solar sheets actually adhere to the metal. Standard solar panels are also an option for metal roofs. The install is generally easier too, as there is no drilling – it’s actually probably the best kind of roof for solar! Metal roofs already reflect heat to keep the home cool. The solar panels will further help with electric bills. Both solar panels and metal roofs are recyclable as well, making for an efficient, eco-friendly addition to your home!