The demand for solar for homes is at an all-time high. Tax incentives and energy bill savings make the decision to go solar super easy.
BUT…
Despite solar being a no brainer for many homes, misinformation is being perpetuated about solar technologies.
In this article, we clear the air about solar technology so you can be assured of its benefits (and have some fun facts to talk about at cocktail parties).
Myth 1: Are Solar Panels Toxic?
Long ago when solar technology first came out, it had tiny traces of cadmium in it. However, since the technology has advanced, a shift has been made to silicon crystalline PV cells encased in polymer, glass, and aluminum. In addition, solar panels are easily recycled when each of their material components are easily upcycled and reused.
Myth 2: Do Solar Panels Lower My Home’s Resale Value?
It’s actually the opposite. A study by the National Renewable Energy Library found that homes with solar panel installations sold 20% faster than homes without and for 17% more money!
Solar panels also increase home appraisals by $20,000 for every $1,000 reduced in yearly
electricity costs. Therefore, solar panels are a viable solution even if you don’t see yourself living in your current house forever. You can choose to lease your panels (and transfer that lease to the new buyer) or benefit from the increased resale value of your home.
Myth 3: Are Solar Panels Too Expensive?
According to Business Wire, 97% of Americans overestimate the cost of solar technology.
Prices have significantly dipped since the 2000s and continue to fall every day. You’ll be seeing significant savings and credits on your electricity bills, which more than cover the installation costs. Leasing is another option for homeowners looking to reduce their bottom line.
You can also save money through government grants and aids, which incentivize homeowners to switch to this renewable energy source. Since utility costs are the most significant housing expense after a mortgage payment, use the FHA’s energy-efficient mortgage program to reduce your costs. Energy-efficient home improvements such as solar installations allow homeowners to save on their investment through mortgage financing. Be sure that you hang on to your receipts from the installation.
Myth 4: Is Solar Panel Installation Complicated?
This one is only true for the die-hard DIYers. For those of us (like me) who like the pain-free way (yes please!), solar panel installation is super easy these days – the installers take care of everything.
They will take care of permits, inspections, and paperwork before installing the panels on your roof. Professionals will install your unit, hook it up to your home electricity, and voila!—your system is ready for use. Not that complicated, after all!
Myth 5: Do Solar Panels Require Maintenance?
Solar panels also require minimal maintenance. They can withstand harsh weather, dirt, and more without replacement. And panels have a long life (around 25 years). This means that after installation, there’s not much else you need to take care of. Oh and most installers offer warrantees good for many years.
Solar technology has indeed skyrocketed over the last two decades. Despite advances in its
functioning and output, its costs continue to plummet – welcome news for every homeowner!
So check out solar installers in your area to see if it is a good fit for your home.
The team of passionate solar advocates at Solar Metric empower consumers with the information they need to make the switch to solar energy. Michael Stephenson created The Entrepreneur Hub to inspire, assist, and motivate his fellow entrepreneurs. He updates the site with helpful resources and advice fit for all entrepreneurs, regardless of where they are in their startup journey.
