Before investing in going green, it’s important to know the pros and cons of installing solar panels to help you decide if solar energy is a worthwhile investment for your home. Consider the following pros and cons that provide some ideas.
Advantages of using solar energy
There are many benefits to installing solar panels on your home. These include:
Reduces your carbon footprint
Every kilowatt-hour of solar energy your panels generate can help reduce emissions of greenhouse gases like carbon dioxide and toxic pollutants like sulfur oxides, nitrogen oxides and particulate matter, according to the Department of Energy.
Saves money on utility bills
While installing solar panels may require an initial investment, homeowners will realize savings in the long run. This also means lower electricity bills and not dealing with sudden high bills.
Allows you to participate in net metering
Many states have net metering programs that allow you to take advantage of unused energy. This means homeowners get credits for the electricity they add to the grid from their panels.
Federal, state and local tax incentives
Customers will receive a 30% federal tax credit just for adding solar panels to their homes. While each state is different, homeowners can save more money through local government incentives and rebates.
Cons of going solar
Despite the many advantages of adding solar energy, there are some drawbacks:
High upfront investment
Depending on the state you live in or the company you travel with, you may have a high initial cost. Incentives and rebates can help with costs but not all states offer this.
Requires ample sun
If you live in an area that experiences extremely cold weather, you may not get the full benefits from your solar panels.
Installation and maintenance costs are expensive
Installation can be expensive, depending on which company you go with and whether you have a solid warranty. Although panels do not require a lot of maintenance, any issues with your panels require repairs or maintenance that can be costly.
Some financing options are not eligible for incentives and rebates
Most solar installation companies provide you with different financing options, however, not all financing options, such as leasing, allow you to take advantage of incentives and rebates.
