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Solar Panel Pros & Cons: An Honest Breakdown
- February 27, 2024
Residential solar panels have a long list of benefits that make them worth the investment for most homes. But there are also some drawbacks to installing solar panels. Before you make a decision, it’s important to consider the pros and cons of solar energy.
Pros of Solar Panel Installation
The benefits of solar energy fall into three main categories: financial benefits, environmental benefits, and security benefits.
Financial Benefits
For most homeowners, solar panels are worth it for the financial benefits alone.
- Electric bill savings – Solar panels can significantly reduce or even eliminate your electricity costs, saving you money every month.
- Protection against rate increases – When you calculate how much solar panels will save you on your electricity bills, you have to factor in future rate increases. When you go solar, you essentially lock in what you pay for electricity for the entire 25+ year lifespan of your system. So you don’t just save on what you’re currently paying, you also avoid future price hikes.
- Tax credits – Solar panels and battery storage systems qualify for a 30% federal tax credit, reducing your upfront costs.
- Additional incentives – Many utility companies in Colorado offer rebates and incentives for solar panel installation. Reach out to Solar Power Pros to find out what incentives you qualify for!
- Increase home value – Installing solar panels increases your home’s value and can even help it sell faster.
Environmental Benefits
If you want to have a direct impact on slowing the effects of climate change and creating a more sustainable future for your children and grandchildren, installing solar panels is one of the best things you can do. Solar energy is integral to the clean energy transition and we need to speed up solar installations if we want to meet carbon neutrality.
Energy Security
The Colorado electric grid is becoming less reliable by the day. If you’re worried about severe weather, wildfires, or aging equipment knocking out your power supply, install solar panels and battery storage.
- Backup power – Solar batteries can supply backup power during an outage to keep your essentials running.
- Self-sufficiency – Generating and storing your own power reduces your reliance on the electric grid and increases your self-sufficiency.
Cons of Solar Panel Installation
There are some drawbacks to solar panel installation that you should consider before deciding whether it’s worth installing solar panels for your home.
Initial Investment
The upfront cost of a solar panel installation is not insignificant. However, there are financial solutions available to help mitigate installation costs.
- Solar loans – Financing your installation with a solar loan reduces the upfront cost of a solar installation and spreads your payments out over time. If you don’t want to make an upfront investment in cash, a solar loan could be a viable alternative.
- Incentives – Incentives like the 30% federal solar tax credit reduce your installation costs and make solar panels more affordable.
Space Considerations
To install rooftop solar panels, you need to have enough space on your roof. Your roof also needs to be free of significant shading to ensure optimal sunlight access. We find that most houses in Colorado are suitable for solar panels, but there are times when rooftop solar is not an option due to roof size or condition. In most cases, however, we can design around limitations. Our solar engineers are highly experienced, creative professionals who can find a way to make solar work for almost any home!
Sunlight Dependent
Of course, solar panels only work when the sun is shining. That means that at night, you won’t be able to use your solar electricity. But there are workarounds to this problem. Grid-tied solar panels maintain a grid connection to ensure you always have access to power even when the sun isn’t shining. You can also install a battery system like the Tesla Powerwall so you can store solar power to use at night.
The Go-To Solar Installers in Colorado: Solar Power Pros
Solar Power Pros is a highly experienced, local solar installer in Colorado. We offer free, no-pressure virtual consultations so you can talk to a professional about the pros and cons of solar panels for your home. Our team is here to answer your questions and help you decide whether solar panels are really worth it for your home. With over 10 years of experience installing solar panels on the Front Range, we’re Colorado’s trusted authority on solar energy.
