Good and bad of going solar

Increases the value of your home

Recent studies found property values increase after solar is installed. It’s that simple. The funny thing is if there were more Toyota Priuses than trucks in the area, then the value increased more. Solar is so popular right now that in some cases it can increase the value of homes enough to completely offset the cost of installation. So, even if you’re planning on moving in a few years, you’ll earn back your solar panel investment when you sell your home.
 

Control over the cost of energy

Let’s face it, the cost of powering your home is more expensive this year than it was last year, and it is not likely to freeze any time soon. This makes everyone nervous because there is nothing you can do to control your rate. Think about this, the cost of solar energy has dropped by more than 70 percent in the past decade alone, while the cost of electricity has risen by an average of five percent in the same time. If you go solar, you not only have abundant power, you also have some leverage over those rising costs.
 

Pays you money or credits

There are a number of incredible solar incentives right now in the U.S. In addition to being able to use 30 percent of the cost of installation as a tax write off in every state, some states have Solar Renewable Energy Credits (SRECs) and Net metering which give homeowners some great added benefits. SRECs are a solar incentive that allows homeowners to sell certificates to their utility. Net metering is a different term for the same thing. You get to sell power to the utility company.

Disadvantages  

We are not trying to be a bummer here, but there are certain circumstances where you might want to think before installing solar. Rooftop solar panels are installed by connecting a rack mounting system to your roof. Certain roofing materials used in older or historical homes, such as slate or cedar tiles, can’t handle those racks, so that may be a problem, but it also might be time for a new roof. There also may be a rooftop deck or the home could be covered by a number of trees, making it difficult for light to get to the panel. Solar panels have no problem with clouds. They do, however, have issues with things that block the light, like trees.
 

Not ideal if moving

Yes, solar power increases the value of a home, but it does it over time. If you are planning on moving out and selling your home next month, it is not economically feasible to install solar power this month. It is not guaranteed that you will get back that cost by the increased value of the home.
 

If electricity costs are low, so are the savings

If your electricity goes from $300 a month to $5 a month, then you are saving a tremendous amount each month and you are well on your way to paying back the investment, but if your bill was $50 a month and now it is $0 a month, then you are not saving as much each month and it will take longer to pay off. You may never recoup the costs of a new heater or air conditioning either, but can you put a price on comfort? If you are cool on a hot summer day, how much is that worth? For more insight, check out one of our top blogs.

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