Solar Energy Pros And Cons: What Are The Advantages And Disadvantages?
The Pros and Cons Of Solar Energy (2023 Guide) – Forbes Home Forbes
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Renewable Energy Source
Solar power has the potential to help us minimize our use of fossil fuels and the impact we have on the environment. It is a renewable energy source that does not release harmful byproducts into our atmosphere when burned to create energy.
Reduces Electric Bill
Solar energy can help consumers power their homes as an alternative or supplement to purchasing electricity from a grid. With power prices on the rise, switching to solar can lead to significant savings on monthly power bills.
Energy Independence
A home reliant entirely on solar power can function off-grid, especially when supplemented with a solar battery system to maintain power during non-daylight hours. These battery systems can also serve as emergency backups during power outages.
Solar Panels Increase Home Values
According to the National Renewable Energy Laboratory, every dollar a solar panel saves you on your electrical bills increases the value of your home by $20. Homes with solar panels also sell for four percent higher than those without them, making them more appealing and valuable in the long run.
Long-Term Savings
While the start-up costs for a solar system can be significant, the savings on the electric bill often offset these costs. Consumers can typically break even on their investment within six to 10 years and continue to reap the benefits for many years before the system needs replacement or considerable maintenance.
Low-Maintenance Costs
Once installed, a solar system requires little maintenance as long as the panels remain unaffected by environmental factors. Keeping the panels clean and free of debris is usually sufficient for them to continue functioning without additional action by the consumer. Professional service for panels can cost between $140 to $180, while an annual inspection or cleaning can cost about $150. However, solar panel warranties typically cover them with performance guarantees.
Benefits the Community
Net metering allows consumers to sell excess electricity their panels produce back to the utility company, reducing utility bills and a community’s reliance on fossil fuels.
Diverse Uses
Solar energy is extremely versatile and can provide power not only to homes and appliances but also to remote, off-grid regions, satellites, and boats where channeling power from a grid is impractical or impossible.
Rising Power Prices
The price of electricity has been increasing over the past ten years and is unlikely to decrease in the near future. Solar power can help consumers keep their bills low, and with net metering, they can even sell extra energy back to the utility company to their advantage.
Technology Is Improving and Prices Are Decreasing
Advancements in solar power technology have made it more efficient and accessible to consumers. Despite these advancements, the cost of solar systems has decreased, making it a more affordable option. State incentive programs and federal tax credits can also help consumers minimize their out-of-pocket expenses for installing a new solar system.
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