Are Solar Panels Worth It in 2023?
Are Solar Panels Worth It in 2022? With the climate crisis looming, more and more homes in America are opting to harness the sun’s energy¹ by installing solar panels as part of the push to go carbon-neutral.
The International Energy Agency estimates that photovoltaic solar panels could provide 16% of the world’s energy by 2050.
Before we get into the details of how transitioning to solar could help both you and the environment, here’s an overview of what is involved:
What is solar energy? and Are Solar Panels Worth It in 2022?
Solar energy refers to the energy produced by the sun, which is radiated towards the earth. The light and heat energy that the sun emits are the result of fusion reactions at its core, turning hydrogen atoms into helium.
Energy from the sun blazes out into space in all directions, and by the time solar energy reaches the earth it has traveled approximately 94 million miles. Approximately 173.4 million gigawatts (GW) of solar energy strikes the earth continuously.
To put this in perspective, the average yearly generation capacity of all of the utility-scale electricity generators in the US is approximately 456GW – a small fraction of the total solar power received by the earth.
How do Solar Panels work?
A solar panel, also known as a photovoltaic (PV) module, consists of a group of photovoltaic cells arranged within a glass-topped case to generate renewable energy.
The PV cells react to photons in sunlight to generate direct current (DC). This current is then passed through an inverter, which converts it to alternating current (AC) – the electricity that we use in our homes and businesses.
There are three different categories of photovoltaic modules. They are:
- Monocrystalline solar panels
- Polycrystalline solar panels
- And thin-film solar panels
Are Solar Panels Worth It?
Solar panel systems offer many benefits to homeowners. Here is a summary of just a few of the many benefits of solar energy:
1. They’re Eco Friendly
- Solar power is pollution-free and has no greenhouse gas emissions after installation.
- Transitioning to solar helps to reduce dependence on fossil fuels, which are seen as one of the primary culprits behind the ongoing climate crisis.
- Solar panels offer renewable, clean power that is available every day of the year – energy is produced even on cloudy days.
2. Return on Investment
As homes are generating their own electricity with solar energy systems, there is a return on the investment due to excess power being channeled back into the grid.
Over a 20 year period, the average family can expect to save approximately $25,000 as the result of a solar installation. Adding solar to your home will also add an average of $15,000 to its market value.
3. Power During Outages
According to an Energy Information Administration (EIA) analysis published in November 2021, 2020 was a record-breaking year for power outages across the United States.
With the problems caused by America’s aging grid network and by evermore frequent adverse weather events, power outages are becoming increasingly common.
Transitioning to solar is a safe way to ensure your power remains on amidst all the chaos.
4. Solar Power Improves Grid Security
- The energy grid is less vulnerable to power outages if there are many sources of electricity generation that are widely spaced.
- A grid with a high penetration of solar energy has thousands of energy production centers during peak hours, which are spread out.
- This greatly improves the security of the grid, in case of overload or either natural or human-led disasters.
5. Solar Allows You To Gain Control Over Rising Energy Costs
Energy prices have been rising steadily year on year, and are forecast to be 7.5% higher overall in 2022 compared to 2021.
Much of the world is now facing energy insecurity due to the market prices of fossil fuels skyrocketing as a result of the war in Ukraine.
Energy insecurity is just one of many reasons as to why the world needs to move towards green energy to ensure a stable future.
The best way to ensure that you are immune to future price hikes within the energy sector is to equip your home with a solar energy system.
6. Solar Panels Have A Long Lifespan
The long lifespan of solar panels make them an attractive option for many homes.
- Monocrystalline PV modules remain highly efficient for at least 25 years, and have a lifespan of up to 40 years.
- Polycrystalline solar panels have a life expectancy of 20 to 35 years.
- Thin film solar panels last between 10 and 20 years.
7. Solar Panels Work In Many Climates
There is a common misconception that solar panels are only effective in warm climates. However, this is not true.
In reality, excessive heat reduces the efficiency of PV cells by increasing the amount of friction as solar energy is transferred from the panels to the inverter.
For this reason, they are most efficient at temperatures below 77⁰F. The rate at which they lose efficiency over 77⁰F is called the temperature coefficient.
It is true that solar panels need a certain amount of direct sun exposure to produce electricity, and the more exposure the more energy will be produced.
Nevertheless, modern solar panels are highly efficient and will generate plenty of energy with less sun exposure – although if you live in an area that receives less sun, you may still need more panels to meet your energy needs.
8. There Are Numerous Installation Options
Many people choose to add solar systems to the roof of their homes, and contrary to popular belief solar arrays can be installed on any roof type – including corrugated metal roofs.
Rooftop solar arrays are a convenient option as they take up no additional space. However, rooftop installation is not the only choice.
Solar panel systems can also be ground mounted, which can increase their efficiency due to the fact that they may be calibrated to the ideal angle and tilt in relation to the sun.
Ground mounted solar arrays are also much easier to maintain, and you don’t need to worry about removing and reinstalling the panels when it’s time to replace your roof.
Check our coming articles to know is solar worth it in California 2022?
This article represents a brief overview of just a few of the many benefits of solar panels. Transitioning from fossil-fuel dependence to clean energy is necessary if we are to mitigate the climate instability that the world is currently experiencing.
Moving to solar will safeguard your home against energy instability, as well as saving you money and benefitting the planet. At Green Home Makeover, we believe that every home should benefit from solar energy.
If you are considering solar as an option for your home, contact us today for a free, no-obligation consultation.
To learn more about solar panel systems, check out our blog article Solar Energy in 2022: All Your Questions Answered. is solar worth it calculator?
Learn more at: https://greenhomemakeover.com/solar-energy/