10 Facts You Should Know About Solar Panels for Homeowners

As more homeowners consider sustainable energy options, solar panels have become a popular choice. Here are 10 essential facts about solar panels you should know before making the switch.

1. Solar Panels Can Reduce Your Electricity Bills

On average, homeowners can save between $10,000 and $30,000 on electricity bills over the lifespan of a solar panel system. A report by the Solar Power World highlights significant savings for families that invest in solar energy.

2. The Cost of Solar Panels Has Decreased

The cost of solar panels has dropped approximately 70% since 2010, according to the U.S. Department of Energy. This decrease makes solar energy more accessible to homeowners than ever before.

3. Solar Panels Increase Home Value

Studies conducted by the Solar Energy Industries Association (SEIA) show that homes with solar energy systems sell for an average of 4.1% more than homes without them, which can translate into a significant return on investment.

4. Federal Tax Incentives Are Available

Homeowners can take advantage of a federal solar investment tax credit (ITC) that allows them to deduct 26% of the solar installation costs from their federal taxes through 2022. After that, the credit will decrease, according to the IRS.

5. Solar Energy Is Environmentally Friendly

Using solar panels reduces your carbon footprint. The National Renewable Energy Laboratory (NREL) states that every kilowatt-hour of solar electricity reduces greenhouse gas emissions by 0.85 pounds.

6. Solar Panels Work Even on Cloudy Days

Contrary to common belief, solar panels can still generate electricity on cloudy days. They can produce about 10-25% of their maximum output when it's overcast, according to Solar.com.

7. The Lifespan of Solar Panels Is Impressive

Most solar panels come with performance warranties of 25 years or more, and many continue to perform efficiently for up to 30 years. The Solar Power Authority emphasizes that quality panels can last well beyond their warranty period.

8. Installation Costs Vary

While the average cost for a residential solar panel installation ranges from $15,000 to $25,000, costs vary based on factors like system size, location, and installation company. An average of Energy.gov notes regional variations in pricing.

9. Grid-Tied vs. Off-Grid Systems

Homeowners have the option of grid-tied systems that connect to the local power grid or off-grid systems which operate independently. Grid-tied systems are generally more cost-effective, as noted by Solar Power World.

10. Maintenance Is Minimal

Solar panels require little maintenance, generally needing just periodic cleaning and inspection. Most manufacturers recommend cleaning them twice a year, according to Solar United Neighbors.

In summary, understanding these key facts will help you make an informed decision about installing solar panels in your home. With a combination of cost savings, environmental benefits, and federal incentives, switching to solar power is an investment worth considering.

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