Is solar energy a good investment?

Whether solar energy is a good investment for you will depend on a number of factors, some of which you may not be aware. While solar panels have greatly improved in recent years, providing more power and also government incentives that help generate extra cash, there are still some areas that you will want to consider before making your choice.

What follows are a list of questions that you need to ask before making your decision about whether to invest in solar energy for your home. When you have answered the final question, you will have the knowledge you need to make the best informed decision.

Is my Home Suitable for Solar Power?

Not all homes are suitable for having solar panels installed. This is because for solar panels to be at their most efficient, they need to be mounted on the roof where it slants towards the south. Plus, the ideal slant for your roof under the panels is roughly 25 to 40 degrees. Plus, the area of the roof where the solar panels need to be mounted must be clear of any large obstruction to sunlight, such as a large tree.

If you discover that the roof has no slant to the southeast, southwest or due south or if that part of your roof receives little sunlight because of a large tree, then your home is not suitable for solar power.

What is My Home Lifestyle?

Basically, solar power is collected during the daytime hours when the sun’s energy is at its peak. If you are not at home for most of the day, then you are not using the energy of the sun. For people with normal daytime work schedules, solar power is still viable. But if you are out of the house before dawn and don’t get home until the late evening hours, then solar panels may not be right for you.

Is My Home Energy Efficient?

Energy savings is more than just mounting solar panels, it’s also about adding insulation to the home, using energy efficient bulbs and appliances and being more careful about your energy usage. For most people this adjustment is low cost and works well with solar power which can save you even more money.

Should I Buy or Get “Free Solar”?

Free Solar is where the solar panel company owns the system that you get free energy from. While you don’t pay for installation, you also don’t qualify for the Feed-In-Tariff payment either. While you get more money in owning the solar panels, you will have to pay for installation. Basically, if you can afford the installation costs, it’s better to own the system. If you can’t then Free Solar is an option.

Am I Planning on Selling My Home?

If you are planning on selling your home, installing solar panels becomes somewhat problematic. This is because if you own the panels, it will improve the value of your home but perhaps not quite enough to cover the installation charge. “Free Solar” adds less value because the solar panel company owns the panels. Basically, if you are not planning on selling your home in the near future, then solar panels are a good investment.

If you have answered these questions, then now you know if solar power is right for you.