Solar Roof Panels: Benefits And Costs

Solar power is an increasingly important source of energy. Homeowners can take advantage of this unique power source by installing solar panels on their roofs. These devices are an excellent home improvement project that has several crucial benefits for homeowners. The following article takes a look at some of the most important benefits, as well as the costs involved in solar panel installation.

Benefits

One key benefit of solar panels is that they can help you avoid the higher energy costs associated with time-of-use rates. These rates are set by some energy providers to take advantage of peak use periods during the day.  For example, a provider might charge more during the early evening than later at night. With solar panels, you can use solar power during peak periods and switch back to the electrical grid at other times. Solar panels also give you a backup system during blackouts.

Solar panels help the environment because solar power is a renewable energy source, which does not pollute the atmosphere. Using solar panels as an energy source can also increase the value of your home. Installing solar panels on the roof will typically raise the value of a home by 4.1 percent. Having solar panels can also help you sell your home faster than you would otherwise.

You may also be eligible to receive various state tax credits when you install solar panels on your roof. The amount of the state tax credits varies from state to state.

Another benefit is called net metering. Under this program, you sell any excess energy produced by your solar panels back to the energy company to offset your energy bill.

Costs

A variety of factors, in addition to any tax credits you might receive, determine your ultimate costs for installing solar panels and a solar system. The average cost is $20,000 with most people spending between $15,000 and $26,000. The panels themselves will make up about 25 percent of your total costs, with other materials, operational costs, and labor costs accounting for the remainder.

A  key factor in installing a solar panel system in your home is the size of your house and the amount of energy you and your family consumes. If you need more wattage, you will need more solar panels, which increases the cost. Other relevant factors regarding costs are the type of solar you purchase, as well as the pitch of your roof, and the direction that your roof faces.

To learn more, contact a solar panel installation company such as Dana Logsdon Roofing.

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