photo remodeling analysis
copyright image by Pixabay
Going solar – what do you see in the image above?
Is solar right for you:
it all depends where your location is. If your home is located is a region where you experience a lot of sun throughout the year, a solar investment may be worth looking into.
- Your home needs direct sunlight exposure that is not shaded by tall trees or other structures. And solar panels may be justified if you live in areas with high electricity costs:
INFO: is going solar right for you?
So what’s the next step if you meet the criteria:
you need to complete a cost assessment in the overall investment into solar energy vs. the savings you can expect from not using electricity supplied by an utility company.
- Note that solar generated electricity must be used. So can you store the excess electricity using batteries or you can sell it back to the grid (meaning your electrical utility provider). Your provider will give you credit for the electricity you produce that can be used when you need to draw from the grid.
- At least under this scenario (storing electricity or selling it back), all of your solar generated electricity will be utilized – thus giving you maximum return on your investment. So throw these options into your ROI analysis:
INFO: SRECs: understanding solar renewable energy credits
INFO: grid-connected renewable energy systems
INFO: how solar batteries work
Solar energy is huge investment:
but over time – especially in areas with high electricity costs – you can expect a positive net return within a 10-15 year period. So if you are not planning to move soon, solar might be a good long-term investment.
- Solar panels can also increase your home value – it is estimated that homes with solar power sell about 3.73% higher in price than non-solar homes. So if you planning to remain in the home for the next 10-15 years, solar could be a smart investment to make:
INFO: estimate cost of solar panels and estimated savings
INFO: solar calculator
INFO: how much do solar panels save?
Review the technology:
solar technology is changing and getting more efficient by the year. There are also solar shingles that are coming onto the market that makes your roof look more natural.
- Another issue is the placement and look of solar panels. You may need to get a variance from your neighborhood association to place panels on your roof. They are not the most attractive appliance, so consider placing the panels where they are less noticed but yet recieve maximum sun exposure:
INFO: types of solar panels
INFO: solar roof tiles complete review
INFO: Tesla solar roof
Going DYI or using professionals:
it all depends on your experience attaching appliances to your roof. But note that solar is a major investment that respectively can add value to the home. So hiring a solar expert may be the best option to ensure your solar system has been positioned and stationed correctly.
- Solar panels can get damaged with high winds, hail and freezing ice dams that can build up. So understand protective measures with DYI or discuss this with your installer.
you hear a lot of talk about green energy and becoming self sufficient – and solar is one way to achieve that. But is it right for you at this time? Again, it all depends on your area and the overall savings you can experience from your current and future use of electricity. If you have a home with a lot of kids using all types of electrical devices and hot water, solar could be the right move to make. If you are two working adults not in your home until evening, maybe not. So before you make the investment, run the numbers to make sure you get a positive ROI on this investment.
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Cover image credit: time for roof solar panels by Pixaby
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