Main Pros and Cons of solar energy
| Pros | Cons |
| Cuts down on electric bill | High initial cost |
| Insurance against higher electricity costs | Intermittent energy source |
| Solar is more affordable than ever | Manufacturing panels has some environmental impact |
| Get a good return on your money | Space is required |
| Friendly to the environment | Not ideal if you intend to relocate |
| Energy independence |
Main Pros of solar energy
- Cuts down on the electric bill
One of the greatest advantages of solar panels is that they may result in significant savings on your electricity bill. Many jurisdictions mandate that utilities offer net metering, which allows homeowners to balance their electric expenses with the energy produced by their solar panels.
It is often included as a credit to the customer’s power bill, which may use to offset future electricity expenditures.
- Insurance against higher electricity costs
The majority of households are aware that power costs continue to rise. The power price has risen continuously over the past five to ten years by an average of $0.2 per year. Your power bill will continue to increase as the cost of electricity continues to climb in the future.
Solar panels shield you from the growing expense of power. Because you are creating your energy, you no longer need to purchase this costly electricity from your utility. So, growing electric bills are no longer a concern! Rising prices may be advantageous for solar installations.
- Solar is more affordable than ever.
While power costs continue to rise, the price of solar has declined. In the past decade, the price of solar energy has decreased by between 60 and 70 per cent. These low rates make solar energy more accessible than ever before to homes.
Utilizing solar subsidies helps reduce the cost of solar installation.
- Get a good return on your money.
In addition to eliminating your utility expense, solar panels can also provide additional revenue. As previously discussed, net metering allows you to make money by selling surplus energy generated by your solar panels to the utility.
Depending on where you live, additional performance-based incentives, such as Solar Renewable Energy Credits (SRECs), might earn you hundreds of dollars annually in some jurisdictions.
The money you make through net metering, with the money you save on your power bill and other incentives, is applied to the cost of your system. In regions where all of these incentives are available, the payback period for a solar panel system can be as short as four years.
Once you’ve paid off your system, your solar panels will continue to provide free electricity for your house for the system’s lifespan!
- Friendly to the environment
Solar is also a renewable energy source, which is a major selling feature. Indicates that usage of the resource does not deplete the source. Therefore, we do not decrease the sun’s energy by converting the sunlight that reaches the ground into electricity.
Moreover, solar panels do not emit greenhouse gas emissions when they generate power. No pollutants are sent into the environment when solar panels are used to generate power. Clean energy is the only output!
- Energy independence
Homeowners with solar panels can generate their power, granting them energy independence. Implies that a solar-powered home is less reliant on the regular electric grid. This enables you to control the source of your home’s energy and take control of the situation.
Main Cons of solar energy
- High initial cost
The high initial cost is one of the most significant disadvantages of solar panel systems. As of January 2022, the average solar energy cost per watt is around $3.00. Therefore, an average 6 kW solar panel installation would cost around $18,000.
how much do solar power systems cost.
Fortunately, solar financing solutions are available. In many circumstances, you may qualify for a solar loan with no down payment, allowing you to save money on your power bill still and enjoy the benefits of solar ownership.
There are three primary reasons why solar is considered an intermittent power source:
→ At night, the sun is not visible. Therefore, solar panels cannot produce energy at night.
→ Location, season, and time of day all influence the sun’s intensity.
→ Solar panel energy production may significantly impact cloud, snow, and vegetation cover.
- Manufacturing panels have some environmental impact.
While solar panels’ power is emission-free, it is crucial to highlight that the production of solar panels is only partially pollution-free.
Some solar panels contain hazardous chemicals, such as sulphur hexafluoride, which is more dangerous than carbon dioxide. However, carbon dioxide’s effect on the climate is far larger than that of sulphur hexafluoride.
Compared to the damage caused by the extraction and combustion of fossil fuels, the environmental effect of solar panels is negligible.
- Solar panels require room
To fulfil energy demands, solar panels require room. Almost often, a roof provides sufficient space for residential installations. However, space might be an issue when considering large-scale solar arrays.
Due to the reduced power density of solar panels, this is the case. The power density of an energy source is measured in watts per square meter (W/m2) and represents the amount of power from a given area. Compared to fossil fuels, the power density of solar panels is poor.
A bigger area of solar panels is required to produce the same electricity as a coal plant. However, this number does not account for the amount of land mined for fossil fuels.
- Not ideal if you intend to relocate
One of the disadvantages of installing solar panels on your home is that it can be expensive to move them, should you decide to move. The net metering agreement with your utility is fixed to the property. Furthermore, finding someone to remove and reinstall your solar panels can be costly.
But, Solar panel insurance does add value to your home, so even if you do move, you are likely to see the value of your solar panels reflected in a higher sale price.
If you plan on moving soon, purchasing your solar panels outright is best. If you have a solar lease or a power purchase agreement (PPA), you will need the new owner to take over your agreement, which can be a hassle.
Should you install solar panels?
The advantages of solar energy exceed its disadvantages. Solar installation is currently more affordable than ever, and the energy price will continue to grow. The sooner you switch to solar energy, the sooner you may begin saving money.