The Benefits of a Solar Home System
Home solar energy is growing faster than ever. More people are seeing both the financial and conscious benefits of making the switch to clean energy.
Determining the right size of system for your home requires careful analysis of your electricity usage. If possible, collect the last 12 months of electricity bills and tally up your average kWh consumption.
Cost-Effectiveness
Homeowners can see a return on their investment within seven to 12 years. With falling solar panel prices, rising electricity rates, and a host of incentives – including the federal investment tax credit (ITC) – going solar has never been more cost-effective.
The average annual energy costs for homeowners are in the thousands — and solar can significantly reduce these expenses. Solar saves on your monthly utility bills in the form of avoided electricity costs, which is a big part of how you can offset the initial investment cost. In addition, solar can help you eliminate or reduce demand charges and other utility fees if your system produces excess electricity.
Whether you choose to purchase your solar system outright with a full payment, or finance it with a power purchasing agreement (PPA) or solar loan, the payback period will vary by your location and the system size. The basic formula to estimate your solar payback period is net system cost divided by annual utility bill savings, which will provide you with a year-by-year breakdown of when you’ll break even.
Keep in mind, a solar calculator can provide you with a more accurate and comprehensive estimate of your costs and potential savings based on your specific roof, installation type, and energy usage. Additionally, some solar companies offer home energy audits to help homeowners optimize their systems and further minimize costs.
Increases Home Value
Whether you are considering selling your home in the near future or simply want to increase your property value, solar is an investment worth making. In fact, studies show that homes with solar are often valued higher than those without it. According to one study by the National Renewable Energy Laboratory, every dollar that a solar energy system saves on electricity bills adds $20 of value to a home. And according to Zillow, homes with solar sell for four percent more than those without.
This premium varies by region. In areas with SOLAR HOME SYSTEM high electricity rates, homes with solar can see even greater increases in value. The same is true for regions with favorable policies, such as performance-based incentives.
It’s important to note that if you are in a lease agreement, your home won’t necessarily increase in value as much as if you owned your system outright. That’s because mortgage lenders typically consider the lease payments a debt and could impact a buyer’s DTI ratio.
However, if you install your system on secondary buildings or the ground, you can easily remove it and take it with you when you move. This means that if you are planning to sell your home in PORTABLE POWER STATION the future, it’s an excellent idea to invest in a solar system that you own rather than leasing.
Easy to Maintain
Solar panel systems are one of the easiest home improvements to maintain. A few maintenance checks can go a long way, especially if you use a monitoring system to track energy output over time.
Most of the regular cleaning needed is to clear debris that can obstruct solar cells and reduce power production. A hose-off is usually enough to keep solar panels clean, and in cold climates the occasional snow wash is also helpful.
It’s important to check your solar system for any signs of damage, especially to the roof penetrations that are part of most home solar installation systems (racking and bolt penetrations). These can deteriorate over time, and any damage or leaks should be fixed straight away by a professional.
Solar panel racking and roof penetrations are usually covered by a warranty, as are solar inverters and home batteries. However, these components have shorter lifespans and warranties than solar panels, so you’ll need to plan replacements in advance.
Another maintenance item to watch for is the DC isolator switch. These are located in an exposed position on the roof and have been identified as the leading cause of fires in homes with solar panels. It’s a good idea to have these replaced if they look damaged, or at least retrofitted with a metal cover as per Australian standards.
Flexibility
Unlike fossil fuels that release carbon dioxide and other greenhouse gases into the atmosphere, solar is a clean energy source. With a solar home system, you can reduce your environmental impact while saving money on energy costs.
Solar systems are flexible enough to meet a wide range of electricity needs. A PV system is sized based on your energy usage and the amount of available roof space, including shade issues. Using online tools like Palmetto’s free Estimate Your Savings tool can help determine your solar potential. However, a certified solar installer can provide a more thorough assessment and recommendations, including evaluation of nearby tree or obstruction shading. In addition, an experienced contractor can consider future home upgrades (like an electric car or changing from gas appliances to electric) to ensure that your solar system is sized appropriately for your long-term power requirements.
Standard photovoltaic solar systems generate direct current (DC) electricity that can be used throughout the household with an inverter. Depending on the type of system, excess DC electricity can either be stored in batteries for later use or exported to the grid.
A stand-alone photovoltaic solar home system (SHS) provides an affordable means to reduce energy consumption and increase rural and remote household electrification. Globally, SHS are supplying millions of people with a way to light their homes and operate basic appliances at night.
