Is Going Solar Worth It?
In today’s society, the reality of climate change is becoming more and more apparent. As a recent UN report has displayed, the rapid heating of the earth is taking place. The report has shown that the earth has been heated by an estimated 1.1 degrees Celsius compared to the average temperatures of 1850 to 1900. With the majority happening after 1975 where there has been an average of 0.15 - 0.20 degrees increase per decade. It has happened so quickly that it caught many world governments off guard. Their goal was to keep that number below 1.5 degrees for as long as possible, but it's on pace to exceed that. Now there is a scramble to switch to renewable energy to hopefully off-balance this heating.
At first glance, you may believe this is an issue that the government can solve. While much of it is within the government and big companies’ control. There are actions that civilians can take to help with this switch to renewable energy. One of the main ways is by switching to solar energy. A trend that has been growing within the last decade with a 33% growth from the decade prior. This can provide assistance with the government’s actions to help fight climate change.
With that being said, some may have questions pertaining to whether switching to solar energy truly helps. Or is it worth it? What this article plans to do is give an insight into the pros and cons of switching to solar power. Hopefully providing you with enough information for you to make an educated assessment on if going solar is for you.
What is solar power or a solar panel?
Solar power is a form of renewable energy where energy is derived from sunlight and turned into electricity. By using the photovoltaic effect, photovoltaic cells take light and convert it into electrical current. For this to be possible, systems that use solar power have to have lenses, mirrors, or panels to capture large quantities of sunlight. Then the conversion of light into electricity takes place with a steam turbine, which then leads to the rest of the facility acquiring the electricity.
As mentioned earlier, mirrors, lenses, or panels are used to capture light. The common equipment that may be found on a house, or building is solar panels. Solar panels are currently used in 4% of American homes. Overall, throughout the world, according to a 2020 survey, 3% of the world uses solar energy. This number has been on a steep rise over the years, especially since the 2015 Paris Agreement where the usage across the globe was at 1%.
Going Solar: Pros and Cons
Going solar is one part of the equation to help with climate change. It can help, but it may not be accessible or realistic for some people. Below are the pros/cons of going solar that may affect your overall decision.
Pros
Home Prices Go Up
With solar becoming more of a hot button topic in the media. More and more people are looking for homes that are solar-powered. The market is still small when it comes to finding houses that run on solar power so, in turn, it can increase the resale value of your home. A home with solar panels has the potential to have a 4.1% increase in resale value compared to other houses.
Lower Carbon Footprint
The reason solar has become a hot-button topic is because of its effect on climate change. Electricity fueled by fossil fuels contributes to 25% of greenhouse gas emissions. Solar power helps to lower the effect you have on the surrounding environment by releasing clean energy. Solar power leaves a carbon footprint twenty times less than fossil fuels carbon footprint. The energy that holds zero emissions and does not pollute the atmosphere. Solar panels themselves can also be used for a long time. A typical solar panel can last up to 25 - 30 years, and even then, it is made of materials that can be recycled for further use.
Incentives - Federal and state governments have been working to increase solar use in America. One of the advantages they provide people with solar-powered houses or who are trying to switch to solar power is incentives. The federal government provides a solar tax credit if you switch to solar power. This credit will be applied to your income taxes and lower your tax bill. In 2021 it will be a 26% tax credit if you become solar-powered between 2020 and 2022. For houses that are going solar in 2023 that number will change to 22%. Certain states also offer other incentives including:
State tax credits
Rebates
renewable energy certificates.
Tax exemptions
Subsidized loans
When it comes to the state tax credits, those apply to state taxes and not usually your federal taxes. Additionally, for those looking to switch to solar power, the Federal Housing Administration provides home improvement and rehabilitation mortgages that include adding solar panels.
Cons
The initial investment can be hefty
The cost of going solar, and solar panels has been going down over the decades, but nonetheless, it can be a costly expense. Every situation is different, but solar panels could average around $16,000. In some cases, it reaches upwards of $35,000.
Solar panels do not work at night
It can be obvious that solar panels only work with the sun out. The moon produces light, but not enough to power the solar panels. It is a risk/benefit factor that has to be taken into account. When the sun is gone, so is the electricity. There are ways to get around it, such as energy storage devices, but that can also be an additional hefty cost.
If you move you can not take the solar panels - Solar panels are custom made to fit your house. So, if you move, you can not take them with you, and not many other houses currently run on solar. It may require you to put up another $16,000 - $35,000 in your next home.
Conclusion
Everything comes with its pros and cons, and switching to solar is no different. As climate change is spoken about more, you may want to do your part to help. To a lot of people, it is your civil duty to do your part, but the reality may be that making the change just is not feasible for some people.
The price could be too expensive. Your city may not have the capacity to provide you with solar panels. A lot of factors have to be taken into consideration with these types of decisions.
The world is slowly moving toward a more renewable energy-based society. Governments are doing their part as much as they can, but they can not do it alone. Switching to solar power can be worth it if you have the means to do it. If you do not, fortunately, there are other ways to help lower the world or your own personal carbon footprint. If solar power is not within your future, maybe it would be best to take a look at the alternative ways to help
