Today we would like to go over a very important topic when determining if Solar power is a good fit for you. There are many advantages to using Solar Power, and like everything in life, includes a few disadvantages. In order to make the right decision, accurate information is crucial. As a leading expert in the power storage and solar market, we would like to assist those looking for reliable information.
Pros of Solar Power – Reducing Carbon Footprint
The number one driving factor when discussing solar power is reducing our heavy reliability on fossil fuels and carbon emissions. The carbon footprint of Solar and Wind (form of solar energy) power are considerably lower than coal or gas. This stands true even after accounting for emissions produced during manufacturing, construction and fuel supply. Fossil fuels after all do have an expiration date, whereas the sun is likely to be around for a few billion years as a reliable power source.
Reduce or Eliminate Electric Costs and Dependence
Solar systems can be a great tool when looking into reducing your annual electric bills. The average annual electricity consumption in the United States is roughly 10,399 kWhs or just under $2000. With the integration of solar power into your home grid system, you can expect to save between $10,000 to $30,000+ over the next 20 years. Keep in mind the expected savings will only increase in the future due to the average annual increase in national electricity costs, which equate to roughly 2.2% per year.
Immediate and Long-term Investment Return
The installation of solar panels on the average home is a great way to improve the value of your property (mainly with intent to own). The FHA requires that a home with a solar system must be added to the total appraisal value of the home, when being put up for sale. Keep in mind the added value varies based on a few factors such as location, size of installation and original value of the home. Solar Renewable Energy Credits (SRECs) and net metering will typically play a large role in paying off or lowering the cost involved in the initial installation.
Cons of Solar Power – Location
Access to direct sunlight is the main requirement for an efficient solar system. Shade and tree coverage are something that should be carefully reviewed when looking at your installation area. Without access to reliable direct southern exposure, you will never see the full potential that a solar array can provide. With ground mount configuration and community solar gardens on the rise, we hope to find creative ways around this issue. Your State location will also be a major factor, as state specific incentives can offer plenty of assistance in decreasing costs, both initially and in the future.
The up-front costs of installing a solar system can be intimidating. These costs do vary based on location and credit history but can typically require a large down payment if you do not quality for a zero-down solar loan. There are options to subsidize as much as 50% of system costs, however, this varies heavily based on the local utility and solar company incentives. The size of your required system will also heavily impact costs. Larger systems require more components and panels, in return increasing the total system cost.
Before making any major decision we always recommend weighing the Pros and Cons. A great financial investment for a friend or family member may not yield the same results for you. We hope you have gained a better perspective on solar power in general and if it is a good option for your specific application. As always, we are just a phone call away (877-548-3387) and are happy to offer our expertise on all of your Solar needs!