Are solar panels worth it?
Recently, the prices of solar panels have gone down dramatically, and as a result, more and more people have been switching to solar. For example, in the US, more than 1 million American homes had gone solar by February 2016 compared to only 30,000 homes that had solar panels in 2006. A SunShot initiative study conducted in 2012 projected about 900,000 to 3.8 million households would have gone solar by 2020.
Moreover, solar installation projects indicate that in the last decade, the efficiency of solar panels has been increasing with most solar panels having an energy efficiency between 11-15%. Such energy efficiency is good for increased solar adoption in general because it means the higher the energy efficiency; the less space is required on the rooftop to go solar.
Currently, solar panels prices are going for about $1/watt or less depending on where the solar panels are purchased.
If you are considering going solar and you are not aware of where to start, below are four (4) things that we may want to consider to give you a head start in your decision-making process:
1. YOUR CURRENT ENERGY CONSUMPTION
Conducting an energy assessment for your household or business will be a good starting point to determine your total energy consumption and how to go solar.
You can conduct this exercise manually, or you could use online tools such as those created under the Green Button Initiative, which was launched by the government in 2012 to help over 60 million homes and businesses to securely access their energy information in a standard format.
The Green Button Initiative also supports the use of online solar tools or a solar panel calculator from online solar marketplaces like the EnergySage or Geostellar to help online users determine how much does it cost to install solar panels and whether solar energy panels are worth it. Many utilities and electricity suppliers in the US have signed on to this initiative and are part of it.
Once you have figured how much energy you are consuming, it is a best practice to conduct an energy audit to check areas where you could be losing or wasting energy. In most cases, you might need to implement energy efficiency measures as advised by the department of energy to reduce your energy usage/consumption. This step is crucial to help you reduce the number of solar panels that you need/sizing your solar panels system and hence reduce your overall solar panels cost.
2. PERSONALIZED SOLAR | HOW MANY SOLAR PANELS DO YOU NEED TO GO SOLAR
Your geographical location helps to make potential solar estimates based on weather data and other data; the amount of sunshine that is hitting your roof. Until recently, determining your specific solar energy potential was unheard of; because online solar tools like the EnergySage and Geostellar were not in existence to help online users estimate their household or business suitability to going solar.
The EnergySage solar needs calculators, which are also part of the Green Button Initiative, can provide you with estimates of how much solar you need. Once you know how much solar you need; you can get a solar estimate of the size of your solar panel system (how many solar panels do I need?) as well as your solar panel cost.
Also, you can as well get an estimate on the percentage of savings you can achieve with solar as well as determining how much of your current energy consumption can be offset by going solar while implementing any of the energy efficiency measures identified.
A solar needs calculator (online solar tools) from companies like the Energysage or Geostellar applies LIDAR technology and can help you determine the cost of solar to help you answer the question: How much solar do I need? For your specific case based on how much solar is hitting your rooftop. Using such solar needs calculators will help you determine the following aspects of deciding about solar panel kits:
a) The best types of solar panels for their adoption.
b) How many solar panels do I need?
c) Where to buy solar panels
d) The best solar energy panels available (in terms of solar panels efficiency and solar panel cost)
g) Is a solar panel worth it?
3. HOW WILL YOU FINANCE YOUR BEST TYPES OF SOLAR PANELS
Today the solar industry is experiencing a lot of growth mainly because of the models currently used to sell solar. Even though the price of solar panels continues to go down, the average solar panel cost of an average household can be anywhere from $15,000 to $25,000 even after applying for tax credits.
As a result, many solar companies apply leasing and power purchase agreements to target solar customers that may not be able to finance upfront the solar panel cost. These models, in most cases, require little or zero money down and hence attractive to many consumers that are willing to go solar.
Many solar companies also apply cash and loan options to solar consumers that are willing to recover most of their energy costs through solar.
If you are interested in learning more about solar financing, the article “What solar panel financing options are available today?’ could be an excellent place to start. Also, a solar panel cost calculator is a handy tool to help you compare the various financing options available to you while factoring in different financing rates and making comparisons of with solar or without solar scenarios.
4. WHO WILL INSTALL YOUR SOLAR PANELS?
A crucial step of the whole process of going solar is knowing where to start as you want to get quality and a durable system that will last for over 20 years that is the lifespan of a solar panel. Also, you will need a licensed and qualified solar installer or contractor to install your solar panel kits.
Referrals from your neighbors that have gone solar can be an excellent place to start as your neighbors will refer you to solar installers in your area if they had a great experience or were happy with the work conducted by their solar installer.
Another way is to research online and see whether you can obtain solar installers that have great reviews on their profiles. However, this might take much of your time, and you might not have time to go through and compare the reports presented to you.
That’s why online solar panel calculators come handy because their platforms have pre-screened solar installers in your local area. These online solar tools have a pool of pre-screened installers from over 40 states in the USA and allow you to compare solar quotes from many solar installers.
Get your solar quotes from EnergySage and register for free with them to help you start doing your reviews about going solar.