The average monthly expenses in the U.S. range from $3,189 for one person to $6,780 for a family of five people. In a full year, that’s over $80,000.
While some of that money goes towards vehicles, groceries, and healthcare, most of it covers living expenses. Between mortgage payments and utilities, it costs a lot of money to pay for living space.
Luckily, harnessing the power of the sun through solar panels can help offset costs while also helping the environment. Read on to learn about the pros and cons of using sunshine for energy.
Reliance On the Sun
One of the biggest benefits of going solar is that it’s a renewable energy source. The sun will always be there.
The only trouble is, the amount of sun you get each day depends on where you live and the placement of your panels. You can install more panels to offset cloudy days, but it will cost you more money. It’s important to calculate the amount of power you’ll get before you install so you know what to expect.
Another drawback is you won’t have power at night. You can invest in a battery pack to store excess power, but these can also be expensive.
Financial Impact
A potential disadvantage of solar energy is the high cost of panels and expensive batteries. Installing panels can cost tens of thousands of dollars. If you want to add a solar battery to your system to ensure you have power at all times, it will add several thousand dollars.
Despite the high upfront costs, solar panels will help you save money on utilities especially if you own them. Once you own solar panels, you can also qualify for federal and state tax credits to help cover the costs. You can even earn extra money by selling your unused energy to utility companies.
While the solar panel system may have a large price tag, remember that you’re making a long term investment. You’ll save and even earn money in the future.
Positive Environmental Effect
A major benefit of harnessing the power of the sun is that it’s great for the environment. Unlike oil, coal, or nuclear energy, it doesn’t create pollutants or harmful waste products.
It also prevents nearly 100 tons of coal from being burned on your behalf and therefore from creating excess carbon dioxide.
As long as the sun shines, your solar panels can convert sunlight into usable energy without harmful byproducts.
Increase Home Value
Many homeowners are interested in solar power, but they’re not sure how to take the plunge. If your home already has a solar panel system in place, it can be more attractive to buyers.
Plus, the cost of the system will be built into the asking price. The new homeowners will also be eligible for tax credits and potential income from the solar panels.
Interested in Harnessing the Power of the Sun?
Harnessing the power of sunshine with solar energy is great for the environment and your home value. That said, it can also mean high upfront costs and a lack of power at night.
For more tips on managing your household and making your home work for you, keep scrolling through our blog.
