In a world where the electricity bills just keep going up, people are turning to solar panels for rescue. But what do solar panels cost, and are they worth it? That is probably the most common dilemma for anyone who is considering switching to solar energy.
Going solar is more attractive now than ever before. You can save a lot of money if you are in the right region, plus you are helping save the planet in the process, which is always a good thing.
What Do You Need to Consider When Deciding on Solar Panels?
Several factors will influence the price of your solar energy system:
- The type of solar panels
- The number of solar panels you need
- The company you choose to install your panels
- Incentives
The type of solar panels that you will need greatly depends on your roof space. Smaller roof space means you will have to get more energy-efficient panels, which also cost more.
The number of solar panels you may require is influenced by both your electricity bills and the amount of sunlight your home gets. All of this is proportional — the bigger your electric bill, the more panels you will need. On the other hand, having more sunlight in your area means you won’t need as many panels to power your home. That is because, in those areas, the panels operate more efficiently.
The installation cost is by far the biggest expense when it comes to solar panels. Although the cost of solar systems has drastically decreased over the last decade, it is still not cheap. Installing a solar panel system in 2021 costs between $16,000 and $21,000.
Fortunately, the price of your brand new solar power system may be reduced due to incentives. There are federal incentives for all US residents, which cover 26% of your project costs in 2021. On top of that, be sure to check out if your state and local authorities grant incentives for solar adoption. They can be very generous, and so combining these incentives can save you quite a lot.
Is It Worth Your Trouble and Money?
As you may have guessed, this is not an easy question to answer. When deciding whether or not to invest in solar panels, you should consider the three main factors listed below.
High Electricity Bills
It is pretty straightforward — if your energy rates are high, it is worth converting to solar power. The more money you pay for electricity, the more money you will save with solar panels. Not to mention that after some time, the solar panels pay for themselves. The solar payback period is generally around 6‒10 years, so everything after that is money in the bank.
Sunlight
Another important factor is exposure to direct sunlight. Naturally, people who live in an area where the weather is generally sunny throughout the year stand to benefit greatly from going solar. However, cloudy days and shade from other objects don’t mean that your panels won’t work — they will, just less efficiently.
Roof Space
Having enough roof space is crucial for a good solar panel system. Additionally, any skylines, chimneys, or other obstructions are a potential problem, as they take up valuable space for the panels.
As this may seem complicated, the best option is to contact an expert solar company like Atlantic Key Energy. Professionals can help you with all the calculations, suggest the ideal place for your solar panels, and offer advice for anything else you need.
Final Thoughts
Since the energy rates can only get higher, solar systems are becoming an increasingly viable option. They are a great money-saving alternative, especially when you live in a sunny area and have a huge rooftop. So if you check all the boxes we have mentioned, going solar is an excellent option for you.
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