Pros of Solar Panels，Are they worth it?

Every day Earth is showered with free energy that anyone can tap into, so long as they’ve got the right technology. Fortunately, that tech is abundant and getting easier to access as mass-produced solar panels become cheaper.

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Are solar panels worth it?

That depends on your circumstances.

“It depends on what is motivating the household to make the decision to [install] solar,” Becca Jones-Albertus, director of the US Department of Energy Solar Energy Technologies Office, told CNET.  

If you’re looking to be 100% energy independent or live off the grid, solar could be a good way to reach those goals. If your state has robust net metering or you have high energy costs, your solar panels could start saving you money in (relatively) short order. If you aren’t planning on moving for many years or have reason to believe the short-term energy savings and the boost to your home’s value will recoup your investment, solar could pay off.

Solar panel pros

Solar panels use photovoltaic cells to harness radiation from the sun and convert it into electricity. They’re an emissions-free energy source that reduces your carbon footprint. But the environmental benefit is just one of many.

Cheaper electric bill

By going solar, residential energy consumers can see significant savings in their home energy bills. Electricity prices were up 5.4% for the 12-month period ending in June, according to the Consumer Price Index. Depending on its size and your energy needs, a solar panel system can reduce or eliminate your electric bill. 

Energy independence

Residential solar panels allow you to pull less energy from the grid. With the addition of solar batteries, solar panels could make your home self-reliant and independent from the electric grid. Solar batteries store energy created during sunny hours, allowing it to be used at night or on cloudy days. Choosing between an off-grid or grid-tied system will depend on your personal energy goals. 

A solar system with a battery can help you power your home during an outage or blackout. Overall, solar panels add stability and flexibility to the electricity you get from the grid. 

Cleaner energy source

By installing solar panels on your home, you’re increasing the amount of clean, carbon-free energy generation available. (Manufacturing solar panels typically produces some greenhouse gas emissions, but far fewer over their lifetime than fossil fuel alternatives, like coal.) The electric power sector contributes up to 25% of all greenhouse gas emissions nationwide, according to the EPA. Using renewable energy helps reduce the use of fossil fuels and their harmful emissions. 

Improved home value

Installing solar panels typically increases the overall value of your home. Solar panels can add around $15,000 of value to your home and help your house sell quicker than houses without solar, according to the US Department of Energy’s Lawrence Berkeley National Laboratory.

Decreasing solar panel cost

Solar panel cost and efficiency has improved greatly over the last 10 years. As solar panel technology improves, so does its return on investment and the savings you’ll see over time. Federal solar incentives coupled with state-level incentives (if available) can help make a solar panel system more affordable and accessible.

30% federal tax credit available to all

In 2022, when Congress passed the Inflation Reduction Act, it boosted the solar investment tax credit to 30% and extended it through 2032. (It phases out by 2035.) This federal residential clean energy credit covers 30% of the total installed cost of a solar panel system.

Net metering and a faster payback period

Another alluring feature is how you can speed up your payback period — the time it takes to earn back your initial investment — through net metering. Net metering allows you to sell your excess energy back to your utility company. Not every state has net metering, so it’s important to check with your utility provider