Installing home solar panels is becoming increasingly popular among homes worldwide as a way to manage their power source and save money.
Most of the people install this due to high electricity bills. So, the Institute for Energy Economics and Financial Analysis (IEEFA) estimated that 2.2 GW (2200MW) of net-metered rooftop solar power will be connected to the grid by June 2024.
The selling point of solar panels in Pakistan and around the world is net metering.
This strategy was implemented in Pakistan in 2015 and played an essential role in use of solar energy. It permits large buyback rates for excess energy sales, which are now at PKR 27/kWh.
According to research, the installation of PV capacity increased by 96% between FY23 and FY24; if this pace continues, PV additions might reach 3,800 MW by FY25.
Now, we discuss what is it and its advantages and disadvantages.
What is a Solar Panel
A device that helps in the conversion of sunlight into electricity is a solar panel.
Solar panels consist of Photovoltaic (PV) cells, which are composed of semiconductor materials like silicon.
These materials absorb the elemental particles from the sun which are called photons.
The photons that are absorbed by the panel cause the semiconductor material’s atoms to liberate electrons, and the movement of these electrons within the cell produces an electric current that can be directed into our circuits.
However, it provides the opportunity to households and communities to convert to a, renewable, and sustainable energy source.
Pros of Solar Panels
Here are a few benefits of home solar panels
Improve the Value of Your Home
Similar to an elegant chef’s kitchen including stainless steel appliances, solar panels may be a sought-after addition for numerous purchasers.
Zillow conducted a survey in 2019 and found that homes with solar energy systems sold for 4.1% more than homes without them. That equated to an additional $9,274 for median-value homes.
Source of Renewable Energy
When fossil fuels are used to produce energy, toxic pollutants are released into the atmosphere, and fossil fuels are still a finite resource.
Solar power has the potential to help us minimize our use of fossil fuels and the impact we have on the environment.
Reduce your Electricity Cost
Your monthly electric bill can go down if you go solar. The amount of money you might save will vary depending on your usage patterns, and system size.
So, whether you buy or rent solar panels, the amount of sunlight your roof receives, and the cost of electricity in your area.
For example, with net metering, the excess electricity generated by your solar panels is fed back into the power system.
Another approach to assist down your electricity price is to have the additional power credited to your account by the utility company.
Reduce your Carbon Footprint
Solar energy systems do not produce CO2 or contribute to air pollution.
The environmental impact of designing and installing solar panels is usually offset in one to four years, depending on the system.
Since most residential systems have a 30-year lifespan, this long-term environmental benefit may outweigh the short-term environmental cost.
According to The Environmental Protection Agency reports, gas generation was the second-largest emitter of CO2 in 2022.
Various Applications
Solar energy is incredibly flexible; it can power not only our houses and appliances but also remote, off-grid areas, satellites, and boats—places where it is inconvenient or impossible to get power from the grid.
Federal Tax Credits
The federal government offers a 30% tax credit on the total cost of installing solar panels on your home between 2022 and 2032.
Solar Panel Cons
Here are some disadvantages of home solar panels:
Dependent on Sunlight
A solar energy system that is dependent on sunlight is unable to generate electricity.
Customers in places with less solar exposure or extreme weather may find this to be problematic.
The greatest solar panels will continue to be affordable and energy-efficient enough to justify installation even in the presence of persistent clouds.
Installation May Be Difficult
Solar panel installation can be challenging if you don’t like heights or are uncomfortable handling electricity, even if the majority of the parts are quite straightforward.
For example, connecting the panel wiring to the house can be difficult for the typical do-it-yourselfer and is best left to the experts.
Difficulty in Relocation
The semi-permanence of the structures implies that panels are not something you’ll carry with you from house to house because it may be difficult, time-consuming, and expensive to remove and relocate a solar system.
Frequently, it’s better to think of them as an investment in the building or property to which they are added.
Not All Roofs Are Suitable
Solar panels work best on rooftops that face south, slope from 15 to 40 degrees, and receive direct sunshine for the majority of the day.
If yours faces east or west, it doesn’t necessarily mean you’re out of luck; your solar panels may simply produce less energy.
Some roofing materials can be more challenging for installers to work with, such slate tiles, solar shingles, or cedar shakes.
Upfront Cost
A five-kW home system may cost as much as $25,000 or more, including labor, solar batteries for power storage, an inverter (which turns solar energy into usable electricity), wiring, and panels.
Solar Storage Cost
Solar storage batteries are necessary if you want to power your home during the evening or on a cloudy day when solar panels don’t produce much electricity.
However, there is an additional fee for this. The cost of a solar plus storage system normally varies from $25,000 to $35,000 based on the battery’s capacity.
If you already have the panels but no storage, a separate solar battery solution might run you anywhere from $12,000 to $22,000.
How Renewable Is Solar Energy?
Without a doubt, solar energy is still more sustainable than fossil fuels, which have finite supplies and emit dangerous greenhouse gases into the atmosphere when they are used.
The lack of raw materials needed to develop solar technology, the greenhouse gases released during production, and the environmental effects of panel disposal are the main factors restricting the sustainability of solar energy as a whole.
However, during four years of use, using solar electricity instead of grid power offsets the emissions and carbon footprint of production. Furthermore, since solar panels are composed of silicon, metal, and glass, they can eventually be recycled. We don’t currently have the necessary infrastructure in place to gather and make large-scale recycling easier.
For Whom Solar Panels Are Most Ideal
Not everyone is best served by solar energy. Making the switch to solar energy could be beneficial for you if:
- Your own home.
- Both your monthly electricity and energy usage are high.
- Your roof faces south and is south-facing with a slope of 15 to 40 degrees, free from trees or other structures.
- In your state, net metering is in place.
- State and federal tax rebates and incentives are available to you.
Are Home Solar Panels Worth it?
Installing solar panels is a sensible investment due to the many advantages of solar energy for many households.
With solar panels, your electricity costs can be reduced.
In fact, the average gain in home value due to solar panels is 6.8%!
However, home Solar panels are best for people who live in good solar states with solar-friendly policies, like net metering and solar incentive programs. Homes with south-facing roofs and lots of unshaded space are also ideal for solar.
What to Consider Before Switching to Solar
When deciding if solar panels are worth it, consider these factors:
- Electricity rates: Higher utility rates mean greater savings with solar.
- Electricity usage: Homes with high energy consumption benefit the most.
- Solar panel costs and budget: Installation averages $19,000.
- Incentives and rebates: Look for state and utility rebates, plus a 30% federal solar tax credit.
- Net metering policy: If offered, it can eliminate electricity bills with credits for excess power.
- Location and environment: Solar works best in sunny areas with cool temperatures.
- Roof design: South-facing, unshaded roofs are ideal for solar installations.
Wrap Up
Solar energy has more benefits than drawbacks.
Although it might take a few years buying and installing a solar system can ultimately save the user a significant amount. So, it saves money on electricity while also helping the environment.
