Solar energy has become a popular renewable energy source not just for industries but for homes as well. Thanks to government subsidies, this sustainable source of energy is also environmentally friendly and is becoming increasingly affordable. Under the Residential Clean Energy Tax Credit, taxpayers can now claim up to 30% of qualified expenses for investing in solar panels for their homes. Here’s a look at everything you should know before getting solar panels:
Understanding solar power technology
For homes, photovoltaic or PV technology is the most efficient way to generate electricity using the sun’s energy. This involves installing solar panels that you can see on rooftops or in fields facing the sun at an angle. The photons are absorbed by the cells of these panels, which then create an electric field across the layers and cause electricity to flow and power appliances. Here are a few other factors to consider:
Suitability
While solar energy has become more affordable, you also have to consider whether your home can accommodate solar panels. While solar panels are designed to work in all weather conditions, especially when placed on rooftops, you should consider things like tree cover and the slope of the roof. Solar panels perform best if they are installed over south-facing rooftops with a slope of 15 to 40 degrees. This enables maximum sunlight absorption, leading to the best results. You will also have to check if your roof is sturdy enough to withstand these panels. So, you should consider getting a professional to conduct an inspection and share insights regarding a roof replacement before you get solar panels for your home. If your home or rooftop is not set up for solar panels, you can always speak to neighbors and community members and persuade them to consider getting a community solar array installed on- or off-site. This way, the cost is shared amongst all the participants.
Types of solar panels
Monocrystalline solar panels: These are made of pure silicon crystal and are cylinder-shaped panels. They are uniform in color, durable, and can each generate 300 to 400 or more watts of power. They are more expensive than other panels but have proven to be the best, saving you more power as up to 20% of the sunlight absorbed is converted to energy using these panels.
Polycrystalline: These are less expensive options, and each panel generates around 250 watts of power. They last as long as monocrystalline panels and are about 15–17% efficient.
Thin-film panels: These are comparatively lighter than the other two options, which makes them easy to install. Thin-film panels are affordable, however, they are the least energy efficient out of the three. They can be 6% to 13% efficient, depending on the type of material. The common types are Copper gallium indium diselenide (CIGS), Cadmium telluride (CdTe), and Amorphous silicon (a-Si).
Cost
Monocrystalline solar panels can cost around $1 to $1.50 per watt. The polycrystalline panels are priced at around $0.70 to $1 per watt. CIGS thin-film panels cost about $0.60 to $0.70 per watt, CdTe costs $0.50 to $0.60 per watt, and a-Si thin-film is priced at $0.43 to $0.50 per watt.
Home resale value
According to the Department of Energy and its studies, the resale value of homes increases with solar panel installation. As remodeling a kitchen adds more value to your home, so does a solar energy system. You should consider checking the PV Value tool, which helps you identify the PV system’s value and how it can contribute to the resale price of your house.
