Are Solar Panels Worth It? Here’s What You Should Know

Last updated on April 20, 2024

As the world slowly starts to realize the importance of renewable energy, solar power is becoming an increasingly popular option for homeowners.

Although other forms of renewable energy such as wind and hydropower have been around for a long time, solar panels are a relatively new technology. 

And even though North Carolina doesn’t get as much sun as states like California, there are still many benefits to installing solar panels on your home.

You can save money on your energy bills and help the environment by using renewable energy.

But before you decide to install solar panels, here are several things you should know.

Table of Contents

Save You Money on Your Energy Bill

solar panels on roof

One of the biggest benefits of solar panels is that they can save you money on your energy bill. Solar panels work by converting sunlight into electricity. This electricity can then be used to power your home. Depending on how much sunlight hits your home, solar in North Carolina could still save you 10-20% on your energy bill. Anywhere you can save money is a good thing, but over time those savings start to add up. In some cases, the cost of solar panels can even pay for themselves in just a few years.

Additionally, the size of your solar panel system will affect how much money you save on your energy bill. A larger system will produce more electricity and offset a higher percentage of your energy usage. However, a larger system will also cost more money to install. You’ll need to weigh the upfront cost of installation against the long-term savings on your energy bill to decide if solar panels are right for you.

Help the Environment

Solar panels not only save you money, but they also help the environment. Solar panels rely on renewable energy, which means they don’t produce harmful emissions or pollutants. That’s good news for the environment and public health. Switching to solar power can help reduce your carbon footprint by up to 2.5 tons per year.

Additionally, as more people switch to solar power, it will help reduce our reliance on fossil fuels. Solar energy is a clean and renewable resource that we can all use to help make a difference.

There Are Tax Incentives Available

In addition to saving you money on your energy bill, solar panels also come with some financial incentives from the government. The federal government offers a tax credit of 30% for solar panel systems. That means if you install a $10,000 solar panel system, you would get a $3,000 tax credit. That’s a significant amount of money that can help offset the cost of installation.

 North Carolina also has its state incentives for solar power. The NC Clean Energy Technology Center offers a solar rebate of up to $6,000 for residential customers. That rebate is in addition to the federal tax credit, which means you could potentially get up to 36% of your installation costs covered.

Solar Panels Increase the Value of Your Home

solar panels on the roof

Another benefit of solar panels is that they can increase the value of your home. A study found that homes with solar panels sell for an average of 4.1% more than homes without solar panels. That might not seem like a lot, but it adds up to an extra $9,610 on a $233,000 home.

Solar panels are also a selling point for potential buyers. In today’s market, many buyers are looking for energy-efficient homes. Solar panels show that your home is energy-efficient and environmentally friendly.

You’ll Need to Do Some Maintenance

Solar panels are a long-term investment, which means you’ll need to do some basic maintenance on them to keep them working properly. First, you’ll need to keep them clean. Dust, dirt, and pollen can build up on the panels and reduce their efficiency. You can clean your panels with a hose or a brush designed for solar panels.

It’s also important to check your panels regularly for damage. Look for cracks, chips, or loose connections. If you notice any damage, you’ll need to have it repaired as soon as possible.

Nevertheless, they have a long lifespan. With proper care and maintenance, solar panels can last for 20-30 years. That means you can enjoy the benefits of solar power for many years to come.

Solar panels have many benefits, including saving you money on your energy bill, helping the environment, and increasing the value of your home. However, you’ll need to do some maintenance on the panels to keep them working properly.

If you’re considering solar panels for your home, be sure to weigh all of the pros and cons before making a decision. One thing is for sure –  this is a decision that will save you money in the long run!

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