The use of solar energy has been gaining attention lately, with more and more people being interested in purchasing solar panels for their homes. While the pros of this have always been flaunted, the high costs associated with it can sometimes cause buyers to consider if they really need one.
How Much Do Solar Panels Cost?
According to multiple sources, the average cost of installing solar panels in 2021 ranges from $12,000 to $25,000. This may look like it will leave a significant dent in your funds, but given that you live in an area ideal for solar panel installation, you can actually save a lot in terms of electricity costs in the long run.
Depending on the location of your home and the size of solar panel you purchased, it can take 10 to 20 years on average for solar panels to pay for themselves. It seems intimidating, but it is also important to consider that you can also pay up to 25 years worth of electricity by installing a solar panel. Not all solar systems can completely offset the energy you use monthly, but a decent and properly installed one can cut your costs by 50% to 75%.
So, Are Solar Panels Worth It?
Solar panel installation may or may not be beneficial for you depending on a number of factors, with the majority of these being where your home is located. Basically, solar panels are a good idea if you live somewhere with lots of exposure to sunlight. If the area around your house has too much shade from trees or other establishments, solar panels are less likely to generate energy to be worth the investment. Most solar companies will also consider where your roof is angled to calculate how efficient the panels will be since roofs facing south or west get more direct energy from the sun.
Another factor to consider is your electricity bills. The amount of money you save by switching to solar energy is proportional to how much you spend each month on electricity bills. So if you live in an area where electricity costs are pretty high, you're more likely to achieve bigger savings. Lastly, those who live in cities that offer solar incentives, rebates or tax exemptions are bound to get more value from their solar panels as well.
I've got solar, why is my electricity bill so high?
If you're wondering why your bills continue to rise despite installing solar panels, note that there could be various reasons behind this. You might have consumed more electricity prior to the installation, or are consuming more electricity during nighttime. Additionally, the recent weather condition might not be conducive for solar energy production or in rare cases, there could be a problem with your solar system which you need to contact your provider for.
How long do solar panels last?
The longevity of solar panels is important as solar adds value to your home and it determines whether they'll function long enough for you to get back the amount you invested. In most cases, the best type of solar panels lasts between 20 to 30 years with proper installation and maintenance. Of course, before purchasing your panel, you should also take a look at the warranty that comes with it.
If you ticked most or all of the factors mentioned above, then yes, a solar panel is worth every penny. Check out and do research on the different types of solar panels to find out which one best fits your home and enjoy the benefits of an eco-friendly home!
