You’ve probably heard about all the benefits of solar panels. Now you’re wondering if you should go ahead with solar installation and if solar panels are worth it for your home? Read on to learn more about the pros and cons of solar panels for your home, and how to decide if home solar panels are worth it for your individual case. SEM Power is one of the top solar companies in Florida. Call SEM Power at our Tampa headquarters today for your solar needs!
Advantages Of Solar Panel Installation For Your Home
- Lower cost of electricity- Rooftop solar panels are able to reduce your home’s energy bills by generating electricity.
- Solar panels can raise the resale value of your home with a return on investment (ROI) that is higher than a lot of other types of home improvements. In a study done by RealEstate.com, solar panels boosted the sale price of starter homes by 40 percent,more than any of the other 28 design features analyzed. Lawrence Berkeley National Laboratory released a study illustrating a home price premium between 0.78% and 1.05% per kilowatt (kW) of solar.
- Lower taxes- The Solar Investment Tax Credit (ITC) is a dollar-for-dollar reduction in your federal tax liability equivalent to 30 percent of the cost of your solar energy system. The full deduction can be taken when your system goes online or over time. Any unused credits are able to be rolled over into the next tax year, as long as the solar ITC remains in effect.
- Minimal maintenance costs- There will be minimal maintenance costs after installation. Any damage to storms or other natural events are covered by your homeowner’s insurance, and any necessary repairs or replacements should be covered by your system warranty.
Disadvantages Of Solar Installation
- Upfront cost- SEM Power, one of the top solar companies in Florida, notes that your system cost is a function of which solar panels you select, the size of the system, the types of panel you choose, and the incentives that will offset your out-of-pocket cost. You may be eligible for federal, state, and local solar rebates that may lower your cost.
- Not ideal for every home- Not every home, unfortunately, is a good candidate for solar. A certain amount of unobstructed sunlight is necessary to make the cost of installation worthwhile. You don’t have to have a brand-new roof to be a good fit for solar panels, but your roof does have to be in good condition. If you’re thinking about major roof repair in the near future, you may want to wait until those repairs are done before considering solar.
Contact Us Today
Solar panel installation is great for the environment, has minimal maintenance costs after installation, and can help you save money in the long run through lowered energy bills. If you are curious about solar panels for your home, you can consult with SEM Power, one of the top solar companies in Florida, and learn about whether or not a solar panel may be right for your specific case. Call SEM Power to find out more and schedule a consultation today!