Solar energy is a revolutionary solution for property owners of any type. However, like any energy decision, choosing to go solar has various implications any owner should keep in mind. Solar is sustainable, renewable, and plentiful as day. As the cost of using solar to produce electricity goes down each year, many homeowners are increasingly switching to solar. It’s important to know the positives and the drawbacks before investing in this resource.

Saving costs

Solar systems are expensive, and the initial outlay is a huge investment at first. But research shows that it is rapidly reducing in cost while grid electricity is becoming ever more expensive and unreliable. A CSIR study revealed that in 2016, power generated from solar and wind sources was already 40% cheaper than power generated from coal. Yes, the batteries are possibly the most expensive part of the installation but once installed, power is guaranteed and you can recoup the installation cost within several years, increase the value of your property, and benefit from tax deductions on your installation as solar power qualifies for savings on carbon tax.

Up your house value

Solar improves the value of your home and millions of homeowners are benefiting from this. Recent studies found that property values increase after solar is installed. Even if you’re planning on moving in the near future, you’ll earn back your solar panel investment and then some when you sell your home. Solar is a great financial investment. The average solar panel payback period is around seven and a half years. For a young homeowner who may be moving in the coming years, putting solar panels on their roof might feel like an unworthy investment. But solar can improve your chances of selling your home and your property value.

Sustainability

All suburban homeowners will agree that through load shedding, the urge to buy a generator increases. But with solar energy, you won’t need to buy noisy and polluting generators when power failures happen. By contrast, solar power is silent and the energy is clean and renewable. With solar power, you will contribute to a healthy and sustainable environment and reduce your carbon footprint in the long term. Each kilowatt-hour (kWh) of solar that is generated will substantially reduce greenhouse gas emissions like carbon dioxide, as well as other dangerous pollutants such as sulphur oxides, nitrogen oxides, and particulate matter.  Solar also surprisingly reduces water consumption and withdrawal from the water table.

Reliability

With solar, you have an almost guaranteed power supply You will still have power when load shedding and power failures occur and are assured of reliable electricity for at least 25 years or usually longer, according to most sources. South Africa’s almost constant supply of sunshine and light will generate power even on overcast days. Good quality batteries can store solar power when you need it at night or during power failures.

Promoting development

Thanks to solar energy, remote communities can enjoy power off the grid, also making it possible for under-resourced schools to use electronic media and the internet to learn. Solar installations benefit healthcare in rural areas by enabling clinics to operate without grid power or generators.

Solar electricity can be sold back to the grid

Depending on your location, you could be eligible for net metering – an electric billing tool that uses the electric grid to store excess energy produced by your solar panel system. The energy that your solar panels produce and don’t use can be credited back to you, meaning you could potentially receive a credit toward your bill for unused energy and essentially sell solar energy back to the electric grid.

 

Net metering has been widely adopted worldwide, though, there’s no set price for the credits you’re going to receive as it depends on where you live. Although some power companies believe that net metering can hurt their profit, it’s actually helpful especially when the demand for electricity is at its peak. Solar-powered buildings can help lower the strain on the power grid overall.

The major con

If your energy usage is low, it’s not worth it financially. The ultimate benefit of solar energy is that it will reduce your use of utility-provided electricity and save you money every month as a result. For a homeowner whose electricity bill is lower than the average for, say, two people, installing a solar panel system isn’t nearly as attractive as it is to a homeowner who pays for energy for a family of five.

FAQs

What are the long-term benefits of installing solar in my home?

It reduces electricity bills, increases the value of your home, cuts back on emissions, protects against energy cuts, and helps you earn money back on your investment through net metering.

Will I be able to live off the grid on solar?

You can only when the conditions are right, and you have efficient and effective batteries for storing energy. Though this is unadvisable as weather conditions are not always guaranteed.