Is It Worth Buying Solar Now?

• Benefits of Solar Energy
• Current State of the Solar Market
• Factors to Consider When Deciding to Invest in Solar Power

With increasing concerns about the environment and rising electricity costs, many homeowners are considering solar power as a clean and sustainable alternative. The question remains: is it worth buying solar now? Short answer – yes, if you do your homework on your provider. It's a great energy-efficieny home upgrade for the money, and there are lots of incentives available now. There are lots of bad actors in the space though, and solar complaints have sped up in recent years. In this article, we'll examine the benefits of solar energy, the current state of the market, and factors to consider when deciding whether or not to invest in solar power for your home.

Benefits of Solar Energy¶

Environmental Impact¶

One of the primary benefits of solar power is obviously its positive impact on the environment. Solar energy is a renewable resource that produces no greenhouse gas emissions or air pollution, contributing to a cleaner and healthier environment for future generations.

Energy Independence¶

By generating your own solar power, you gain energy independence and reduce your reliance on traditional utility companies. This can lead to more control over your energy consumption and protection against fluctuating energy prices. Add in a battery for storage and you get a lot of protection against power outages. Whether you want to be have an off grid house or just have a little peace of mind, the energy independence that comes with solar is worth considering.

Reduced Electricity Costs¶

Solar power can significantly reduce or even eliminate your electricity bills. While the initial investment may be substantial, the long-term savings can offset these costs and lead to a considerable return on investment.

Increased Property Value¶

Installing a solar power system can increase your property value, as potential buyers may be willing to pay a premium for a home with reduced energy costs and a smaller environmental footprint. It's one of our top eco-friendly upgrades.

Current State of the Solar Market¶

Falling Solar Panel Prices¶

The cost of solar panels has decreased significantly over the past decade (although it's gone up a bit over the last year), making solar power more accessible and affordable for homeowners. Advances in technology and increased manufacturing scale have contributed to lower prices, making now a more attractive time to invest in solar power. In some ways, you can think of it as a hedge against rising energy prices.

Government Incentives and Tax Credits¶

Various federal and state incentives and tax credits are available to homeowners who invest in solar power. These programs can help offset the initial costs of installing a solar power system, further increasing its financial viability.

Improved Solar Panel Efficiency¶

Solar panel efficiency has improved over time, allowing solar systems to generate more electricity with the same amount of sunlight. This means that solar power systems are more effective than ever before, increasing their overall value and appeal to homeowners.

Factors to Consider When Deciding to Invest in Solar Power¶

Geographic Location¶

The amount of sunlight your home receives will directly impact the effectiveness of a solar power system. Homes in sunnier locations are generally better suited for solar power, although even homes in less sunny areas can still benefit from solar energy. We are seeing them widely adopted in Hudson Valley home renovations. You'll want to use a calculator, most of the are powered by Google's Project Sunroof, to better understand whether your property is a good fit.

Roof Condition and Orientation¶

Your roof's condition, size, and orientation will determine whether or not it can accommodate a solar power system. A south-facing roof is ideal for maximizing sunlight exposure, while the structural integrity of your roof must be sufficient to support the weight of solar panels.

Financing Options¶

Various financing options are available for homeowners interested in solar power, including loans, leases, and power purchase agreements. It's essential to carefully evaluate these options and determine which one best aligns with your financial situation and long-term goals.

Reputation of your solar company¶

The number of solar installations is up to around 4 million homes, compared to a few hundred thousand ten years ago, so we're starting to see the true longevity of the panels and the companies that provide them. It's important to really do your homework on who is installing and their reputation. Ask your neighbors and consult with several companies before going all in. Make sure you check their references carefully.

So, is it worth buying solar now? The answer largely depends on your individual circumstances, goals, and priorities, but we think yes. With falling solar panel prices, improved efficiency, and various incentives available, now is an excellent time for many homeowners to invest in solar power. By considering the factors outlined in this article, you can make an informed decision about whether solar energy is the right choice for your home. Ultimately, investing in solar power can lead to significant environmental and financial benefits, making it a worthwhile consideration for those looking to reduce their energy costs and contribute to a more sustainable future.