Is Solar Energy Worth the Investment for Your Home?

When environmentally conscious people move into their own homes, they often think about solar panels. Producing electricity without fossil fuels could shrink your carbon footprint, but is it the right move for your lifestyle? Learning more about the process will reveal if solar energy is worth the investment for your house so you can make the best decision for yourself.

Do Solar Panels Save Homeowners Money?

Saving more money each month is the biggest appeal of sustainable energy for many homeowners. If you’ve paid an electricity bill for any amount of time, you know how it spikes during certain times of the year. While your charges might be less than $100 one month, the next bill may be much higher than that.

Making your own electricity with solar panels would reduce your dependence on the local power grid. Homeowners who install panels can save an average of $200 per month on their utility bill after installing solar panels. You could stand to reduce your spending even more if you live in a region with higher per-kilowatt-hour fees.

When the individual panels absorb the sun’s photons, chemicals within each unit pull them into a current that powers your house. They’ll start this process the moment sunshine hits your home in the morning. Many continue even in low lighting during cloudy days. Your property will generate power until the sun sets, so panels often produce more electricity than a house uses. The process makes power bills shrink or become non-existent for residential properties.

Benefits of Having Solar Panels on Your Home

You might love the idea of saving more money every month, but there are other solar panel benefits you could enjoy as well. Explore what homeowners appreciate about making the sustainable energy upgrade to see if you’d like to take the next step.

Your House May Perform Better on the Market

If you eventually need to sell your home, interested buyers might agree to a higher price if they think your home is worth more. Research shows 31% of real estate agents saw the perceived property value of homes increase when buyers noticed solar panels in the listings.

You may also sell your property faster down the road. Sustainably minded consumers might jump at the chance to buy your house if comparable local properties don’t also come with solar panels. They make your listing stand out, especially because the future owners know they’d save money on their power bills.

You Could Store Electricity in a Battery

Some homeowners live in areas prone to power outages. You might deal with strong seasonal storms or have weak local infrastructure. Solar energy may be worth the investment for your home if you add battery storage to your property.

Your home’s excess production would store itself in the battery, so you’d still have electricity when everyone else experiences power outages. The advantage might make life more comfortable after natural disasters or intensified weather systems.

You’ll Gain the Federal Tax Credit

The Internal Revenue Service (IRS) provides a 30% energy credit for homeowners with solar panels. You’ll get 30% of your loan back during the tax season after installation, which many put toward their loan to pay it off faster. You could also use it to pay owed taxes, reduce your personal debt or build your savings.

You also have time to enjoy the tax credit. The financial benefit will remain at 30% through 2032 before dropping to 26% for panels installed during or after 2033. The most important thing is to evaluate what’s best for your home before potentially moving forward with installation and waiting for your tax credit check.

What to Expect from Your Green Energy Upgrade

The process of adding solar panels to your home might seem a bit confusing. After homeowners find out what they’ll likely experience, they often feel more confident about making their final decision.

1. An Expert Will Discuss Your Options

Once you find a solar panel company that serves your zip code, you’ll have a conversation with a representative. They’ll consider your house’s size, roof shape and which direction your roof faces to see if your property is a good candidate for solar panels.

If your roof would position the panels advantageously, the representative will walk you through the models they offer, what’s included in warranties and how many panels you’d likely need to install. The estimate will be based on the kilowatt-hours listed on your electricity bills from peak summer and winter months so there’s no guesswork involved.

2. The Installation Will Be Quick

You won’t need to wait long for panels to become operational. Expert teams often install new systems in less than a day, though the time frame may change if you live in a rural community or have a complex installation due to your roof’s architecture.

Your installation company’s team will handle the work while you water the potted plants freshening your indoor air or manage household chores that need your attention. They’ll only have to place the panels on your roof, install a junction box on the side of your home and connect everything to your electric meter.

3. You’ll Check Panel Progress With an App

Many solar panel providers have a branded app for their clients. You could use it to check on each panel’s activity, compare solar energy production over time and even contact a customer service representative.

If yours doesn’t have an app, the inverter manufacturer that made your panels will likely have one. Either way, you’ll get real-time data on your electricity production so you can supervise your panels.

4. Your Electricity Bill Will Shrink

Some homeowners stay connected to the local grid after their panels are active. Your electric company can store excess power from your panels and send you a check for them at the end of the year. In return, you’ll pay a small monthly electricity bill covering related local taxes. You could use your newfound cash to support your mental and physical health through new hobbies, travel or build your savings.

If your electricity reliance rises during peak usage periods, you may get a higher bill from the electric company. Staying connected to the grid allows them to send energy to your home if your panels aren’t making enough at any given time. You can always add another panel or two to improve your electricity production if it happens frequently.

5. You’ll Pay Your Solar Loan Over Time

People who decide to install solar panels must sign up for a solar loan before installation occurs. The monthly payment will replace your electricity bill, but it won’t last forever. The average loan length is between eight and 25 years, though you could pay it off sooner with the tax credit.

Eventually, you’ll pay off the loan and produce your own power for free if you’re not connected to the grid. If you keep a grid connection, you’ll still pay a small amount of local taxes to store wattage with your local power provider. Either way, it can be more cost-effective than paying an electricity bill every month for the rest of your life.

Look Into Sustainable Energy Possibilities for Your House

Solar energy may be worth the investment for your home if you’re interested in a greener lifestyle. Talk with a local brand to see if your property qualifies. You could start generating your own electricity and enjoy a smaller carbon footprint.