The pros and cons of going solar.

To many people, solar energy is still a relatively new concept, and they keep hearing multiple different sides to whether solar is a good thing or a not so good thing. In this blog, we’ll keep it real with you, offering up both the pros and cons of going solar to help you make an informed decision on whether or not going solar is the right choice for your household.

Pro: Solar increases the value of your home.

When you install solar, you will instantly increase the value of your home. If you’re planning on selling your home before your life cycle runs out, you can sell your home for up to $15,000 more than the original asking price. If you sell your home within a few years after installing solar, you’ll be able to get the most extra value added to your home. If it’s towards the end of the solar system’s life cycle, you can still add extra value to your home and simply inform the new owners how much time you think the panels have left. Even though it won’t be a huge amount of time, just the amount of savings they’ll get from a few years of the use of the panels will be worth the added cost to buy your home. 

Pro: Solar energy allows you to not be a victim to your utility company.

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 go back down any time soon, or ever. On the other hand, 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 don’t install solar, your utility company has total control over you, because obviously everyone needs electricity. But if you get solar, the renewable energy will mean you won’t have to worry about those fluctuating prices anymore.

Pro: Solar comes with tax credits and rebates.

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 lets homeowners sell any excess energy they produce back to their utility. Net metering is a different term for the same thing. You get to sell power to the utility company if you generate more than you actually need.

Con: Solar panels aren’t ideal if you plan on moving soon.

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. You’ll want to wait until you get your return on investment before selling your home.

Con: Sometimes, the savings aren’t as much as the advertising claims.

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. It’s up to you to decide if it’s worth it.

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