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Going solar

Is solar a smart long-term investment that can reduce your carbon footprint? Absolutely — and everybody from the Department of Energy to Leonardo DiCaprio can back it up. But even something as trendy as solar can have downsides. Let's break down the top perks and quirks of going solar.

The top benefit of solar panels is pretty clear. When you install solar power for your home, you generate your own electricity, become less reliant on your electric utility and reduce your monthly electric bill. A solar panel system typically has a 25-30-year lifespan, which means that you can out your electricity costs for decades to come by going solar. Also the cost of solar is dropping across the nation. The next point is that it improves the value of your home. The recent studies found that property values increase after solar is installed. Moreover, it can pay you money while you are earning back your investment. Due to a number of awesome solar incentives in the U.S., solar panels can actually turn you a profit in addition to generating bill savings that pay off the cost of the system.

Then, you have to consider the volatile nature of electricity prices and determine what utility rates will be in years to come. When you compare the coat of utility electricity with home solar, you should keep in mind that you can expect electricity rates to increase annually. Over the past years, national electricity costs have increased at a rate of 2.2 % per year. So this is an added incentive for solar: when you generate your own energy with a rooftop system, you're taking control of energy costs so that you are no longer a victim to variable utility rates. 

It reduces carbon emissions and helps move towards energy independence. As the world searches for the most cost-effective ways to reduce our carbon output in the face of global climate change, solar energy has become a trendy resource for a good reason and perhaps a small victory giving us the right to celebrate Earth Day.

But you should keep in mind that it doesn't work for every type of roof. Certain roofing materials used in older or historical homes can be difficult for solar installers to work with. In addition, many homes and apartment buildings have skylights or other rooftop additions like roof decks that can make the solar installation process difficult or costly. In the long run, however, this shouldn't be a barrier. If your home does not qualify for a rooftop solar system, you still have options: ground mounted solar panels or buying a share in a community solar garden can get you around this drawback of solar energy. Well, not many drawbacks, yeah?

After reviewing our pros and cons of solar energy, there are some clear takeaways. Rooftop solar panels aren't the perfect fit for everyone, but that's okay. Like any other home efficiency product, solar panels provide clear benefits to property owners that are in need of energy upgrades and electricity bill reduction. Not everyone fits that description. Solar energy should be thought of as an investment: a low-risk investment with major returns, but a hefty investment nonetheless.

We are moving towards clean energy, and solar is our cheapest option. There is nothing unclear about our energy future if we want to get rid of fossil fuels and move to renewables. Solar is the most scalable, consumer-friendly solution.