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Are Solar Panels Worth It? Pros and Cons to Consider

Did you know that by 2019, American homes officially had over 2 million solar panel installations? It’s no secret that solar panels are growing in popularity, but if you’re on the fence, don’t let us convince you they’re a good idea…

Here are the facts about solar panels–in “pros and cons” form, so you can decide for yourself if they’re really worth all the hype.

Solar Panels: Pros 

First, solar panels often come with a great rax break. Depending on where you live, you can deduct around 26% of the cost to install your solar panels from your federal taxes. With the cost of installation dropping each year, solar savings are increasingly becoming a win-win opportunity.

Secondly, solar panels last a long time. They even hold up well in all kinds of weather. It takes hail over 1-inch in diameter to do even a small amount of damage to your panels.

This means, once they are installed, you’ll be enjoying energy savings and clean energy for decades to come. Your wallet will thank you.

Third, solar panels add money to your wallet in so many ways. Besides saving you on your monthly energy bill, they add great resale value to your home.

The U.S. Department of Energy did a recent study on how much value residential solar panels added to over 22,000 different homes across several states. On average, they found that solar panels added around $15,000 more to each home’s value. That’s no chump change… 

One of the common things potential home buyers look for in recent years is an environmentally-friendly, (or “green”), home.

Having solar panels already installed in your home takes the trouble of doing so away from a potential buyer. They also have the benefit of knowing that they don’t have to worry that their energy bills will be huge if they move in.

Solar Panels: Cons

First things first, solar panels are not cheap to install. They take a sizeable investment upfront. However, this con is temporary as the return on investment you get from electricity savings over the years really adds up to major savings.  

Depending on your budget the solar price doesn’t have to be a con at all.

Second, most solar panels require professional installation. They are not a DIY project. Fortunately, with professional installation, you also don’t have to worry about improper installation or problems because of it.

Another potential con of solar panels is that they aren’t always “aesthetically pleasing.” Some homeowners may not mind the look of large panels on their roof, while others are deterred from purchasing solar panels purely because they don’t like how they appear.

More About Solar

If these pros and cons of solar panels don’t have you convinced they’re a great investment, ask someone who has them. Odds are, they are happy with the investment. For more interesting articles about how to improve your home and life, browse the Lifestyle portion of our blog.

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