Solar panels are a popular renewable energy source. However, some homeowners may question if solar energy is the right choice for them. You may wonder if it is worth the upfront costs or regular maintenance. Yet, solar energy can save you money on your energy bills and lower your carbon footprint. If you are left questioning — “Should I install solar panels on my home?” — keep reading to discover more about solar energy, if it’s worth it, and the pros and cons of solar panels.
At HOMEfix, we are your go-to solar panel experts. Our team has you covered with our solar installation services in Colorado Springs. Do you need a home improvement company to install your solar panels? Our team is here to walk you through the entire process from start to finish. Not all homeowners will benefit from solar panels, but it’s a no-brainer for some! HOMEfix can help you decide if solar panels are right for your home.
How Much Do Solar Panels Cost?
One of the most important considerations for homeowners is the cost of solar panels. Several factors determine the price of a solar system, such as its size, labor costs, configuration, and solar tax credits.
According to MarketWatch, the average cost of solar per watt in Colorado is $2.69, and the average cost of a 5-kW system after tax incentives is $9,965.
When making the switch to solar, you need to purchase the equipment and pay for the installation. There is a high initial cost of using solar energy because of this. However, the only cost you have after installation is the amount of electricity you use past what your solar panels create.
How Long Do Solar Panels Take To Pay For Themselves?
Solar panels are a long-term investment. While homeowners can expect to pay high upfront system costs, the goal of solar panels is to have better energy efficiency over time. That means it will take a few years to make back your investment.
On average, you can expect to break even anywhere between 10 to 20 years. Keep in mind that how long it takes for solar panels to pay for themselves depends on where you live, your solar system, your energy usage, and other factors.
Are Solar Panels Worth It?
While cost is an essential factor in whether or not to install solar panels, other considerations should be made, too. For example, the location of your home, the type of roofing you have, and the amount of energy you use can help you decide if solar panels are worth it.
Your Home’s Location
One of the best ways to determine if solar panels are right for you is by considering the location of your home. States that get lots of sunlight are better suited for solar panels. Fortunately, Colorado is one of the sunniest states in the U.S., making it perfect for solar panels.
You should also consider what is around your home. If your home is shaded by trees or other buildings, it may not be worth it to install solar panels. Remember, too, that roofs facing south, southwest, or west receive more direct sunlight exposure, so place your solar panels there if possible to maximize your investment.
Your Home’s Roofing
Another consideration you should make before installing solar panels is your home’s roofing layout. The ideal roof for solar panels is one with lots of surface area. Skylights and chimneys can make it harder to install solar panels.
Ideally, the slope of your roof should be between 30-45 degrees. Steeper roofs may make the installation of solar panels more difficult for technicians as well as more expensive for you.
Your Home’s Energy Consumption
You should take a look at your monthly energy consumption in your home. If you use a lot of energy in your home and have higher electricity rates, solar panels can help you save money. If your home does not consume a lot of energy, solar panels may not be worth it considering the high installation costs.
Pros and Cons of Solar Panels
While there are many pros of solar panels, there are also cons that homeowners should be aware of before installing solar panels. Here are some of the advantages of solar energy and cons of solar energy.
Advantages of Solar Panels
Some of the benefits of solar panels include:
- There are tax breaks for solar panel installation.
- Net metering allows you to sell back excess energy.
- It is a renewable energy source.
- Solar energy saves you money.
- Solar panels may increase your home’s value.
Disadvantages of Solar Panels
Solar panels also have cons to take into account, such as:
- Solar systems have high upfront costs for installation.
- Some homeowners may not financially benefit from solar energy.
- It requires a roof with lots of surface area.
- Solar panels aren’t efficient in cloudy weather.
- Solar requires regular maintenance to keep the system running optimally, and they are hard to recycle after their 20-year lifespan.
Should I Install Solar Panels on My Home?
The answer to this question, “should I install solar panels on my home?”, is not simple. There are many considerations as a homeowner, from your home’s location to cost.
If your roof is suitable for solar panels and you have high electric bills, solar energy may be the perfect solution for you. You can generate significant savings by taking advantage of using solar energy.
However, if you don’t consume much energy, or if you are located in a state without a lot of sun exposure, solar panels may not be your best option.
Determining if you want to install solar panels on your home requires careful consideration. Remember to review the pros and cons of solar panels, too. Going through these factors will help you have a better idea of if you want to invest in solar energy.
Get Expert Solar Installation Services from HOMEfix
Living in Colorado means hundreds of days of beautiful sunshine each year. That also means it is one of the best locations for solar panels. Solar energy can be a beneficial and cost-saving option for many homeowners. However, not all individuals will benefit from installing solar panels on their homes. When considering going solar, you should also take into account the cost of solar panels, if your home is well-suited for them, and the pros and cons.
HOMEfix is here to be your solar panel specialist. Our team offers the best solar panel installation services for individuals looking to make the switch to solar energy. Do you have questions about solar installation services? HOMEfix has your answer. Want to learn more about if solar panels are right for your home? We have you covered. If you want to learn more about solar energy, contact us to schedule a free, no-pressure consultation!