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 residential solar power systems for homes.
Let’s examine the main benefits and drawbacks of solar energy systems to help you make a well-informed decision.
- Dramatic Reduction in the Price per Watt Installed: One of the strongest benefits of solar energy 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 $2.78 to $3.22 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 in solar, especially if you take into account the rate of inflation since 2008.