As solar panels get more affordable and the overall cost of a solar installation comes down more and more homeowners are wondering if it is worth installing solar panels.
The simple answer is yes, installing solar panels and creating renewable energy that can lower your energy bills and reduce your carbon footprint are all reasons that make solar panels worth it.
Location of your home.
Because most residential solar systems are rooftop solar panels that require the most amount of sunlight possible, the location of your home is important.
Not all rooftop solar installations need to be south facing and in the open. A solar power system can be optimized on most rooftops but here are a few things we look for when determining if a home is good generating solar power:
- No big trees making too much shade roof for large amounts of the day the will affect sun exposure of your solar panels.
- House not in a generally shady location of your city like closely backing a mountain.
- Minimal roof obstructions like rooftop vents on the best rooftop surface that will interfere with solar panels.
Installation costs.
The installation cost of solar panels, solar batteries, and the equipment needed for your solar system has significantly decreased over time. In todays market you can expect to get a solar system installed for $2.50-$300 per watt.
The type of solar system you want installed will also affect your overall cost. Most systems installed in 2022 are “grid tied” solar systems which means you can sell your excess solar energy to the local utility company to offset your average monthly electricity bill. But if you want to harness that power and store it, or if you are doing an “off grid” installation you will need a solar battery to store that power and adding a solar battery to your solar panel installation will change the cost of solar for your home.
The overall size of the solar array will determine the total cost of your solar panel system. Getting a free solar system quote like the one we offer here will get you on your way to understanding the cost of your solar energy system.
If you have an EV vehicle.
Pairing an EV vehicle with solar panels is next level! Solar panels will produce energy all day, likely while your EV vehicle is parked. Once you install solar panels your solar panels will produce solar energy that will reduce your monthly electric bill and your commuting costs.
If you are wondering how much energy your solar panels will need to generate to provide enough energy to charge your EV check out this cool EV vehicle database.
Rising electricity costs.
Energy costs are going to steadily increase year over year. As household energy consumption increases from EV vehicles it will become harder for the local utility company to generate electricity and your power bill will reflect that.
The thing about solar energy is that you are producing your own energy, rather then renting it. With solar, you are in control of your electricity rates and the more energy you produce the more you save money.
Once your solar investment is paid off your solar panels will generate totally free energy renewable energy for your home.
Check your utility bills to see what you’ve been spending over the years. You may already know, or you may be shocked by how much energy bills have increased.
Curious how much BC Hydro pays for solar electricity in 2022? Check out our article here.
Size of your roof will determine the amount of solar panels that can be installed.
The size of your roof will directly determine the amount of solar panels that a solar companies can install on your home. Although you may not want to go with a full roof system.
The minimum amount of solar panels solar companies recommend for solar panel installations is 14, which is approximately 5kw (this is also the minimum for solar incentives). So at a minimum make sure you have room for 14 panels.
The size of your solar panel system is up to you and if you are looking to produce more solar energy and have excess energy produced then solar companies can install more solar panels on your roof. Getting a free solar installation quote like the one we offer here is a great way to find out what kind of solar investment you would like to make.
Net metering programs.
When you buy solar panels the goal is to take advantage of the electricity produced to save on your monthly bills. Luckily local utility companies have programs like Net Metering, you can see more about BC Hydro Net Metering here to get ahold of those solar savings.
Essentially Net Metering rewards homeowners for generating their own renewable energy from their solar investment to help out with energy consumption. So every month you will receive money for energy production from your solar panels.
Government rebates.
Isn’t it great that the government is willing to rebate us for producing clean energy from installing solar panels on our homes!?
Although this government rebates wont last forever, now is the time to save on your solar installation cost by getting ahold of amazing government grants ($5,000 here in BC). See more about government grants available in BC here.
As long as the power output of your solar panels is at a minimum of 5 kw you should be eligible for a grant (there are some other requirements, just check the link to see if you are eligible.
In 2022 there are only 700,000 government grants available for a solar panel system. Although your solar investment will always pay off in the long run getting this kind of rebate on your solar panel installation is a huge benefit to reducing the cost of solar.
Solar loan.
Because you will be offsetting your energy usage with how much electricity your solar panels generate most customers go with financing for their solar installation to smoothen out their initial investment.
Some solar companies will offer financing from companies like Goodleapand Financeitfor your solar panels cost but you will want to check in with them when you get your quote, we offer financing from Financeit and include it in our offer, you can get a quote on this from one of our energy consultants.
Summary
Installing solar panels to create a solar energy system for your home to reduce your electricity bills and carbon footprint. And with solar panels you are paying for power output that you will own, the price will never go up like conventional energy.
