Howdy Neighbors,
Are Solar Panels Worth It?
According to “Answer the Public” that is the most commonly asked solar electric related question. As the General Manager of one of the oldest solar contractors in Florida, I feel qualified to answer, and my answer is … yes. Elaborate? Sure …
I stick by my answer with a caveat, and that is that we are talking about money math here. If you want to discuss carbon footprints, landfills, global warming, or manufacturing practices, there seem to be valid arguments for and against solar on all sides. I can’t keep up with the research so far, and new information seems to come out daily, so I am reserving my opinion for now. But let’s talk about the “worth it” as it relates to money.
First, it is important to point out that solar will not work for everyone. Here are some solar suggestions:
- Own your home and land.
- Have reasonably unshaded south/east/west facing roof space. (For the panels)
- Have power consumption worth reducing.
- Conserve everywhere else possible BEFORE looking at energy production.
- Have realistic expectations.
As long as you have the above ducks in a row, then solar is going to be “worth it” for you.
More often than not, solar pays for itself from the very first month you put it in. Most people finance their solar electric system and make monthly payments. A properly sized system is going to save you more on your power bill than the bank will require monthly, even with the interest rate they are charging. In that instance, your solar electric expense is “pass-thru” in that what you save on your power bill every month covers your payment for you, and that happens from month one.
There is also plenty of people who pay cash for their solar electric system. Take your estimate for the total expense to install a solar electric system that will “zero-out” your energy consumption, then divide that by the amount of your average electric bill. That’s how many months until your solar electric system pays for itself, all savings after that is money in your pocket.
Either way you choose to pay … it qualifies as financially “worth it”. There are some pitfalls to avoid. It’s a hot-topic and this attracts sales predators from all over the country. So, be careful, do your research, and don’t make it more complicated than it needs to be. The math is simple, and the math is what makes it “worth it”.