Solar panels can help you make the Earth a cleaner place to live for future generations and save money on electricity in the long run. However, depending on many factors, it can give you less than what you bargained for.
These factors include where you live, your municipality’s rules on construction projects like this, or how much your utility company charges you. Consider the factors below before buying solar panels for your home:
How much will it cost to have solar panels installed in my home?
The average cost of installing solar panels in residential homes ranges from $13,000 to $16,800. Even after claiming the government’s tax credit for switching to clean energy, the amount still equals almost $3 per watt installed. However, this price is already 70% less than it cost a decade ago.
But this expense is just about it. Solar panels usually don’t have a maintenance cost. So, even though $16,800 is a lot of money, it’s a one-time payment.
Are solar panels a good investment?
In most cases, yes. Solar panels can give a good return on investment after a few years of using them. Eventually, it will start paying for itself. However, it will take years for others to realize an ROI.
The usefulness and benefits of solar panels depend on how much it can cost to install them and your energy needs. However, if you really want to have solar panels despite the cost, you can take a solar loan; just watch out for sneaky hidden charges. Loans are better than leases.
Do solar panels continue working if there’s an outage?
Contrary to popular belief, no. Solar panels stop working when there’s a grid power outage unless you have a storage battery.
Highly efficient solar panels can generate a huge amount of electricity, and you will not use all those to power your house, especially if you don’t have too many appliances. The excess power can be stored in a battery, so you can use them during an outage or bad weather that goes on for days.