5 Solar Power Myths Debunked
With energy hikes threatening our financial stability, consumers are considering renewable energy sources to save money. Switching to solar is a very attractive option for U.S. homeowners. Solar panels reduce the dependency on local electricity grids thus, lowering or completely eliminating energy bills.
However, there are still many myths about solar energy that prevent people from taking a closer look at the benefits of solar power. We’ve compiled a list of the most common misconceptions about solar energy and debunked them.
Myth #1 — Solar is Never $0 Down
If you’ve been shopping around for solar panels, you may have encountered “zero-down” offers from some companies. While it may sound too good to be true, it is definitely possible. The increasing demand for solar has led investment requirements to evolve and be more available to a wider audience.
The “$0 down” financing is not a myth. It is a legitimate practice that provides all homeowners with an opportunity to move forward with a solar energy project. Common financing options include solar leases, power purchase agreements (PPAs), and solar loans. Similar to mortgage lending auto sales, customers need to go through a procedure to determine whether they are qualified.
Myth #2 — You Need a New Roof
Definitely not! A new roof is not mandatory for solar panel installation. In most cases, solar panels are installed without additional remodeling. As long as there is enough room for a solar system and ample sun exposure, you can move forward with the project.
Nevertheless, it is still smart to check your roof for signs of damage prior to installation. It’s more for avoiding financial risks and a safety precaution. A damaged roof may worsen due to the added weight of solar panels. This can lead to cracks and leaks which can cost more to repair. On the other hand, if a roof ever needs repair following a solar system installation, the panels can be removed and reinstalled.
Myth #3 — Solar Only Works In Sunny Areas
This may be one of the biggest myths that stop people from switching to solar. The truth is, solar power is not limited to locations with abundant sunshine. Panels do not need direct sunlight to work. They use daylight to generate electricity. This is why they can function even when the weather is rainy, cloudy or foggy.
If you’re still in doubt, take a look at what Germany has achieved so far in terms of solar. The country gets only about as much sunlight as the state of Alaska. However, they are producing double the amount of solar power generated in the U.S. and Canada!
Myth #4 — You Won’t Save Money
Not true. Switching to solar will save you money. The question you should be asking is, how much? Well, it depends on a number of factors. The hours of daily sunlight, the size of your system and local electricity rates are all important. The higher your utility bill, the more likely you’ll benefit from switching.
There are several ways to regain your initial investment. Instead of flushing your money down the drain by paying a monthly power bill, that same money can be applied toward your solar system, increasing the equity in your home. This could equate to about $40,000 over 25 years. There are federal tax credits that go as high as 30%. Your property value could increase by as much as $15,000 with a solar system!
Myth #5 — Solar Is Just A Passing Trend
The numbers don’t lie. The U.S is now home to more than 1.3 million solar installations and it is estimated to grow in the coming years. According to UN Environment’s 2019 Global Trends Report in Renewable Energy, solar dominated the 2017 global investment in new power. The solar industry also attracted $160.8 billion in investment that same year.
If it’s just a passing trend, why is it so that tech giants like Apple Inc. and Microsoft are launching several solar projects on different parts of the globe? More so, major U.S. companies like Amazon, Target, and Walmart are hopping on the solar train at an incredible rate!
Thanks to the increasing demand for solar energy, solar panels have been more accessible and affordable than ever before. At Sun Path Electric, we can help you begin your solar journey. Sign up for ourFREE Sun Analysis to determine whether your home is a good match for solar.