Warm Up Your Solar Knowledge
Alternative energy sources are on the rise and switching to solar is a perfect solution to save money and help the planet. With the demand for solar growing, there are many misconceptions and myths regarding making the switch. Many of the arguments against solar are due to outdated or incorrect information. We’re ready to shine a light on common myths and help you understand how solar can be a valuable energy source before summer temperatures hit.
SOLAR MYTH 1: Solar panels are too expensive
Solar is not a one size fits all appliance. Each home and solar system is different. Solar systems are built based on either your previous year’s consumption (best case scenario) or the square footage of the home (only used if we don’t have one year of usage). Projected savings are calculated by comparing your historical energy costs (price per kWh and total consumption) to your projected energy costs with solar.
When we build our proposals, the goal is to make your solar payment less than, or equal to, what you are currently paying. By switching to solar, you will be locking in your rate. On average, residential electricity prices are increasing about 3% each year. This means that even if you are keeping your usage consistent, your bill will continue to rise. The International Energy Agency (IEA) conducts a yearly study that uses data points which allows them to map energy prices into the future. This year’s study conducted that solar is currently the cheapest form of energy. The price of solar is now 20-50% cheaper than it was in 2018.
SOLAR MYTH 2: Solar will lower the value of your home
A study from the Lawrence Berkeley National Laboratory indicates that a medium-sized residential solar system can add more than $15,000 to the value of a home. The study engaged a team of seven appraisers across multiple states to determine how much a solar PV system would add to a single-family home.
A separate study from Zillow also concluded that homes with solar sell for more. They tracked sales over the course of a year and found that homes with solar sold for 4% more on average than those without. According to their Consumer Housing Trends Report, more than 80% of home buyers said that energy.
SOLAR MYTH 3: Installing solar panels will take you off the utility grid
While it is possible to go off-grid with solar, we do not offer those solutions. We do offer solar batteries that can help offset grid power when the solar system is not producing. Batteries work by storing extra energy produced from solar panels to be used later so that you don’t have to purchase energy from the grid. When the sun isn’t shining or during high peak times when you need more energy than your panels can produce, a battery can offset expensive grid power.
SOLAR MYTH 4: Solar won’t produce in cold weather
Many believe that to reach optimal solar energy, they must live in a hot climate. Surprisingly, this is not true! Solar power comes from the sun’s light, not its heat. PV panels reach maximum energy efficiency at 77 degrees Fahrenheit and slow down as the temperature rises. That means that although winter days are shorter in comparison, it makes up in productivity with the cooler weather.
Does this mean that you shouldn’t go solar if you live in a hot climate? No. The length of sunlight in a day makes up for the extreme heat. Choosing a premium panel brand also helps. Our premium panel, Panasonic, has achieved the world’s highest output temperature coefficient available. When most solar panels are struggling with the increased temperatures during the summer months, Panasonic HIT® modules reliably generate power and limit efficiency losses in the heat. This means that you can stop worrying about this myth and feel confident that solar panels produce productive, sun-powered energy all year round.
SOLAR MYTH 5: The government will give you free panels
If it sounds too good to be true, it probably is. The government will not give you a free solar system but they do offer a tax credit that makes going solar extremely affordable.
Right now, the solar investment tax credit (ITC) is worth 26% of your total system cost. This includes the value of parts and contractor fees for the installation. For example, if it costs $10,000 to buy and install your system, you would be owed a $2,600 credit.
The (ITC) was scheduled to drop to 22% in 2021 and disappear for residential installations in 2022. This means that the extension will be saving eligible homeowners thousands of dollars on their system. The tax credit is again scheduled to drop to 22% in 2023 and expire in 2024. There may be another extension but we recommend not waiting to find out.
Don’t let common winter myths and gloomy moods get you down. With these misconceptions dispelled, you can feel confident in finding out how else clean energy from the sun can improve your energy efficiency and savings. Contact us to set up your free solar consultation.