Is Solar Power a Waste of Money? (Complete Guide)

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Is Solar Power a Waste of Money

Solar power is becoming more popular every day and a lot of homeowners are considering switching to solar power. There are a lot of concerns and questions that will come with looking into solar power. Knowing if it’s worth it to get solar power or if it’s a waste of money is a question that most have about solar power. We’re going to go through the benefits of getting solar power and if it’s overall worth it to get it. 

Our company provides NJ solar power and is happy to present our take on this stance of solar being a waste of money.

Is Solar Power Worth It?

It’s no secret that solar power is an investment, but many wonder if it’s worth the investment. Although solar power is a rather large investment right up front to pay for the installation of the solar panels, there is a huge profit to be made once the system is set up. The amount of energy savings that a homeowner can expect to receive can be between $10,000 and $30,000 over the lifetime of the system. 

A benefit that solar power brings that many don’t know about is an increase in home value. For every dollar saved on energy, it will increase your home value by $20 which is a 20-to-1 return. Both the energy savings and the overall increase in home value brought in by solar power, make solar power worth it. 

If you’re worried about the upfront initial cost then solar panels can be installed over time and there are many payment plan options available. Speaking to solar companies in your area can help you determine the best way to pay for solar power if you’re having trouble. 

What Are The 2 Main Disadvantages To Solar Energy?

When weighing your options on energy, you would want to know any disadvantages that might come along with solar energy. The two main concerns for people is the initial cost of the solar panel installation, but this is definitely worth your investment because of the return on energy savings and the increase in home value. 

The second main disadvantage is that it is weather-dependent, however, it doesn’t affect your energy output as much as you’d think. Energy can still be harvested during cloudy, rainy, and dark times, but not as much as with full sun exposure. 

How Long Does It Take For Solar Panels To Pay For Themselves?

We’ve said that solar panels will eventually pay for themselves, so this shouldn’t be a concern if you’re worried about that initial setup cost. It generally takes about eight years to get your investment return back for solar energy. This obviously varies based on how much you paid for your solar energy and also how much energy you conserve annually. For example, if you paid $16,000 for your initial solar energy setup and you conserve $2,000 worth of energy each year, then it would take you eight years to match the amount you pair initially for the solar energy. 

Can A House Run On Solar Power Alone?

One of the biggest questions that people have about solar energy is whether or not it can run your whole home just on solar power. The answer to this question is yes, you can power an entire home using just solar energy. As long as there are enough solar panels placed on your home or property and you’re conserving enough energy for your home then you’ll have no problem accomplishing this. 

Sometimes homeowners just choose to install af ew solar panels to help with their energy, but this doesn’t eliminate the use of other energy sources completely. If a homeowner wants to run solely on solar energy then this is definitely possible with high energy panels, an adequate number of panels, and energy storage. If you;re looking to power an off-grid home using just solar panels then this is where things can get a bit more complicated, but not impossible. It just takes a bit more money and resources to get the job done. You can contact different solar companies to get their opinion on how many panels and what type you’d need to run your home strictly on solar energy. 

Is Solar Power A Waste?

The bottom line is that solar power isn’t a waste as long as you maintain it and are smart about your decisions regarding setting up the panels. The initial investment is a big one, but the outcome of the energy you’ll be saving and the money you’ll save is well worth it. Solar panels also last about 25 years, so the initial investment is definitely worth it to have 25 years of amazing energy and savings. 

Overall, the decision to go solar is completely up to you. There’s a lot of information on solar panels and solar power benefits. You can also talk to solar companies in your area to ask any questions, get estimates, and get more information about powering your home in specific. Solar power is on the rise and many people are considering switching, so hopefully this helps the decision making process. 

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