Predictions show that by 2026 the global solar energy market will reach a value of $223.3 billion.
Renewable energy sources have grown in popularity a lot in recent years, with solar power showing great potential. If you are looking to install solar panels on your home or business, it is important to understand the advantages that come with them.
There are a number of reasons to invest in a solar panel installation. For an overview of some of the most important benefits, keep reading.
1. Energy Production
The main advantage of using solar panels is the main reason for their existence: energy production.
Almost all homes and businesses across the world use electricity, and that has to come from software. Traditionally, this would come from an electricity grid, but solar panels allow you to produce electricity on your own site.
A solar panel home installation is most commonly placed on a roof. As they generate energy through sunlight, you want there to be no obstructions between them and the sun. If they were in your garden, for example, they might get blocked at certain times throughout the day by trees, walls, or buildings.
Most homes or businesses that have solar panels will use electricity from them, as well as an electricity provider. The amount of energy people use can vary massively, so solar panels will often not be able to produce enough, especially if it is for a business that uses a lot of power.
Being linked up to a grid means that when the solar panels are not providing enough power, you will still be able to run electronic devices.
2. Save Money
As you would expect, a solar panel installation has an initial cost. Over time, however, you will make this money back.
As you will be sourcing a portion of your electricity from the panels, the usage from your electricity provider, and therefore your bills, will go down.
It can be a bit tricky to do any initial calculations on how long it will take for a return on your investment. It depends on the cost of energy in your area, as well as how much energy you use.
Energy is generally charged per kilowatt-hour (kWh), and the more expensive a kWh is from your provider, the more money you will be saving.
On top of this, it is always possible that you will generate more electricity than you use. When this happens, it is automatically sent to the utility grid and you will receive it back when the sun has gone down, giving even further savings.
3. Clean Energy
One of the most noteworthy things about solar panels is that they produce clean energy. Once installed, a solar panel system simply converts sunlight into electricity.
Solar panels aren’t the most efficient form of electricity production, but the fact that they are good for the environment has made them very popular. Traditional methods release harmful emissions, and these days climate change is a huge concern to people all over the world.
Being able to generate energy without harming the environment is good for everyone, and the more renewable energy used, the more effect it will have.
It is worth noting that fossil fuels are used in the manufacture of solar panels, but it is a very small amount, which is quickly offset once they are in use.
Coal alone, for example, is responsible for 13,000 deaths in the US, and 800,000 deaths worldwide every year. This is a direct result of the hazardous air pollutants that the burning of coal releases.
Beyond these deaths, there are millions of cases of minor and serious illness, which in turn causes a strain on healthcare systems. If we are able to move further away from the use of such fuels, it would literally save millions of lives.
4. Backup Power Source
You can pair your solar panels with a battery storage solution, so as the panels take in sunlight, they can charge a battery source for later use.
Electricity supplies are generally quite reliable, but power outages do happen from time to time.
If you have a charged battery, it can act as an emergency power source if needed.
5. Increases Home Value
When people are looking at buying a new home, there are many factors they take into consideration. Budget is always a factor, and homes are the largest investments people will make in their life.
If there are aspects of a house that will save people money in the long run (such as solar panels), it can make that house a lot more desirable.
Younger generations are also very environmentally conscious and will feel a lot more comfortable knowing that the home they are purchasing is more environmentally friendly than others.
The use of fossil fuels and carbon footprint levels are becoming more important to people every year, so many people place a lot of value on their home or business having pre-installed solar panels.
The appearance of solar panels has changed over the years, and many people consider modern panels to be quite aesthetically pleasing. Residential solar panels give a very modern look to your house, which is very desirable to younger generations currently entering the housing market.
If you are in Texas and are looking for a very modern, high-quality system, you can install with Blue Raven, one of the fastest-growing solar companies in the US.
6. Federal/State Tax Incentives
The United States government is actively trying to encourage the use of renewable energy. This is often done through increased public awareness as well as certain incentives.
The government currently offers a tax credit for any expenses used for solar panel installation. These expenses include labor, installation equipment, and preparation. Certain states and cities offer further tax benefits, so this is worth looking into for your area.
This builds on the cost-saving factor of solar panels, and the primary cost comes from the installation. You should take advantage of this sooner rather than later, as it is on the decline.
The tax credit was originally 30% of the cost of the system, but this is now down to 26% through 2022. In 2023 this is set to drop again to 22%, and this incentive may be completely phased out after that.
7. Solar Renewable Energy Certificates
Renewable Energy Certificates (RECs) are documents that are used for compliance reporting and voluntary consumption. They are sometimes known as Solar Renewable Energy Certificates (SRECs).
Each REC serves as proof that a specified amount of renewable energy has been produced. This is generally 1 mWh but varies from state to state.
If you receive SRECs you can then sell or trade them to generate more value from your solar panel system. SRECs tend to fluctuate in value, and while various countries use them, there are often location-based restrictions detailing how they can be monetized.
8. Job Creation
Most of the advantages on this list are benefits for you, but while reaping all these rewards you can even help others. The manufacture and installation of solar panels provide several employment opportunities.
The solar industry has generated more jobs than more conventional energy sources such as fossil fuels and coal. On top of that many jobs that source fossil fuels can be harmful to the workers.
In energy plants, workers risk exposure to air pollutants. Burning fossil fuels isn’t just bad for the environment, but also for people’s health. Inhaling large amounts can cause serious problems.
9. Durable and Easy to Maintain
Once your solar panels are installed, the amount of maintenance required is a lot lower than many people expect. It can even be several years from the initial installation before any maintenance is required at all.
When you finally do need to tend to your solar panels, all that is needed is a bit of cleaning. Over time they will naturally gather dust and dirt which, if thick enough, could interfere with electricity generation. Simply wash this off, and you’re done.
How often you need to do this will vary depending on your environment, but in most circumstances a few times a year is more than enough.
There is always the risk of damage which may require professional repair, but if these are installed on a roof, the odds of any damage occurring is very low.
Some companies also offer some sort of warranty. Blue Raven Solar, for example, provides a 25-year warranty that will cover any manufacturing issues, so you can invest knowing that your solar panel system is going to last.
Unlike fossil fuels, there currently seems to be no risk of solar energy running out. The amount of sunshine a solar panel system receives can vary based on factors such as location, weather, and time of year, but it is safe to say that it will never be depleted.
This can provide peace of mind knowing that you will always have a source of energy, and you don’t have a risk of bills increasing in price.
Most energy (around 85% globally) used today still comes from non-renewable sources, but every year this number decreases. Some countries are further ahead of others in this respect. Iceland, for example, has recorded days in which almost 100% of the energy used has come from renewable sources.
The US is still a long way off of this, but progress is being made, and the reliability and efficiency of such energy sources are becoming clearer.
11. Easy Installation
Solar panels can be installed almost anywhere. Certain factors may cause limitations such as the condition of your roof or potential obstructions, but these can all be looked at and taken into account. After this, a plan can be drawn up to ensure your installation is as efficient as possible.
The technicians installing your solar panels will follow a certain procedure:
- Prepping your roof
- Setting up the wiring
- Installing the racking (this is the noisy part)
- Placing the panels on the racking
- Connecting inverters to the panels
This entire process will usually take just 1 or 2 days.
After this, a city inspector will need to examine the setup to make sure everything is up to code. Finally, your electricity provider will carry out a similar inspection.
After this, your system is turned on and you are ready to go!
There may be situations where your home or business is not suitable for a solar panel installation. If this is the case, it is sometimes possible to install panels in a remote location and have them provide power to somewhere in a different area.
This has been done in the past to provide power to remote villages or other areas with limited access to electricity.
12. Secure for the Future
It is safe to say that renewable energy is the future. Almost all industries that rely on fossil fuels are looking for ways to move to alternative fuel sources. The rise of electric cars is a clear example of this.
Fossil fuels are finite, and the more they are used, the more expensive they become. Renewable energy is the only solution, so investing now will have you ready for the coming years.
Solar energy may become the primary source of energy all over the world in the future, so having a good understanding of it now could be very beneficial.
Having a solar panel system installed on your home or business will give you more knowledge and experience in regards to how it all works, as well as a better understanding of smart energy consumption.
The advancements in solar energy in recent years have made it almost impossible to fault, and the benefits just continue to grow.
Should You Install Solar Panels
There are many reasons to install solar panels on your home and business. As time goes by, these advantages only grow, and the sooner you invest, the more benefits you will reap.
If you want to read more on modern tech, check out some of our other blog posts!