If you are one of the many homeowners considering the installation of solar panels on your home’s rooftop, then undoubtedly one of the burning questions on your mind is whether the pros of solar energy outweigh the cons when it comes to solar panels for homes.
Let’s examine the main benefits and drawbacks of residential solar energy systems to help you make a well-informed decision.
- Dramatic reduction in price per watt installed
- Short payback period
- Reduced reliance on power grid
- Electric energy price security
- Ample federal tax credits and local incentives
- Mandatory net metering rules
- Solar renewable energy certificates (SRECs)
- Clean renewable energy source
- Increased property values
- It’s easy to find a quality solar installer
- May not be suitable for some homes
- Won’t work during a blackout or power outage (unless…)
- Poor installation may lead to fire hazards
- Poor quality installation may lead to premature roof leaks
- The weight of solar panels can put excessive stress on the roof-frame
- Pollution and environmental hazards
- The “bulky” look of solar panels may turn off some people
- No energy production at night
- Solar battery storage is expensive
- Use of rare earth metals
Benefits and Advantages:
One of the strongest benefits of domestic solar power today is that the solar price per watt (PPV) installed has come down from almost $9.00 per watt installed in 2008, to the current average cost ranging from $2.80 to $3.24 per watt installed, before the 26% federal solar investment tax credits (ITC) that apply to the full amount paid for a new solar system.
Did you know? Homeowners going solar today are paying almost 66% less than they used to pay for solar energy just a little over a decade ago! That’s a very significant reduction in the upfront cost of investment, especially if you take into account the rate of inflation since 2008.