Are Solar Panels Worthwhile?

by John Griffith

Energy costs have been increasing yearly, with most homeowners spending more than $1,000 and up to $5,700 per year on home electricity. These costs can be significant for average earners, making you ponder whether solar panels are a worthwhile investment.

While everyone’s needs and preferences are different, you might start exploring your solar panel installation options for some of the following reasons.

solar panels american public power association

They’re Becoming Affordable

When solar panels first hit the market, even the average portable 200 watt solar panel was beyond what many people could afford. However, that has changed in recent years. Technology is improving, solar panels are becoming more efficient, and manufacturing costs are dropping. Whether you buy portable solar panels for camping or permanent panels for a home power supply, you might be surprised by their current affordability compared to a mere decade ago.

person holding a wallet with money

They Can Reduce or Eliminate Your Energy Bill

Many people are quite shocked when they review their annual energy costs and realize they potentially spent more than $3,000 on energy from the power grid. When you install solar panels to harness energy from the sun, that might no longer be a concern.

While you might need to tap into the power grid during high-use periods like summer and winter, there’s potential for you to free yourself from the grasp of power companies when the majority of your energy supply comes from free solar energy captured in your solar panels.

laptop phone money vills

You Can Be Eligible for Rebates and Tax Credits

Many homeowners look for ways to save money, and it’s easy to assume that spending money on solar power for your home will not provide any savings. However, it often can. The Office of Energy Efficiency and Renewable Energy in the United States provides homeowners who meet specific criteria with federal residential solar energy credits.

These tax credits allow you to reclaim a percentage of your solar system installation costs. From 2022 to 2032, many homeowners can claim back 30% of their installation expenses. Individual states might also offer other financial incentives to encourage solar energy use.

home with solar panels on roof

Enjoy Power During Power Outages

If you have solar panels and a solar battery storage unit, there’s a high chance a mains grid power outage won’t affect your property. Your entire neighborhood could have no power, but you’d be able to carry on as normal.

However, if you only have solar panels tied to the grid, your system will shut down to protect itself. Power can only be provided to your home during a power outage if you invest in battery storage.

solar panels on a hill

You Can Protect the Environment

Most electricity in the United States is generated through nuclear energy, coal, and natural gas. Burning fossil fuels to produce electricity results in harmful gasses being emitted into the air. These cause air pollution and climate change.

Solar energy is clean energy harnessed from the sun. The more people who adopt clean energy solutions, the fewer fossil fuels we have to burn, and the better off our environment might be.

mountain lake and trees

Solar panels are a worthwhile investment for any homeowner looking to save money, gain grid independence, and protect the environment. If you haven’t yet explored your solar power options, now might be the right time to start. 

person putting solar panels on roof

John Griffith

John Griffith is a young, passionate journalist. Writing has been John’s hobby ever since he was a boy. He has worked in some of the UK’s most successful news portals over the course of his professional career but found his forever home at Archzine.