A photovoltaic system surely has many upsides, but nothing is perfect. If you want to install solar in your home, you need first to learn the benefits and drawbacks of solar energy.
Many people put solar panels in their homes or businesses for one simple reason: to save money on their energy bills. With the increasing electricity costs, you can be certain that the financial benefits will be substantial.
The precise amount you will save is determined by several factors, including how much electricity you need and the wattage of the solar system.
Solar systems will help make your home more appealing to potential bidders. This is because it will be more environmentally friendly and have the ability to save electricity.
According to one study of 22,000 house sales in the United States, a PV system increased the home’s value by roughly $15,000 on average. Even if you sell your home before you’ve recovered your original investment, you’ll likely regain the majority of it with a better sale price.
Investors are similarly drawn to commercial properties with solar panels. This is especially true given that a pre-installed photovoltaic system allows prospective buyers to evaluate their future electricity savings and expenses.
You can even make money by installing a solar energy system at your home. Most states now have some form of net metering policy. This allows you to earn money by reusing electricity from the grid.
This policy is implemented in 38 states and several other foreign territories. Under it, the power authority credits you for any excess electricity generated by your solar installation but not used.
SREC is a comparable policy that provides financial reimbursement for the energy produced by your solar system. You should check to see if your state provides one of these programs.
What about the disadvantages of solar energy? As you might expect, solar power works best when the sun shines brightly. This means that you’ll have to rely on backup power sources at night with most solar installations.
You can, however, avoid this issue by including a battery in your solar system. This will store any excess electricity created during the day, which you may subsequently utilize at night or on cloudy days with little sunlight.
Another issue is that solar energy is not suitable for all places. If your roof is not properly oriented or receives excessive shade, solar may simply not be a viable option for you.