Solar panels are a cost-effective means of generating renewable energy without the emissions.
One of my life goals is to build an off-grid home in Costa Rica. Going off-grid is important to me because I want to live sustainably and reduce my carbon footprint.
With the rising gas prices and inflation, should you consider investing in solar for your current or future home?
What To Consider Before Installing Solar Panels
There a few logistical considerations before you go solar.
- Proximity to the equator. Generally the closer you are to the equator the more sunshine you will get. However, solar can be effective anywhere. Living in Canada, we only have about 4 months of full sun, but the excess energy you create in the summer can give you credits for the winter months.
- Is your home south-facing? South facing homes get the most sun throughout the day.
- Are there any large trees around your home? Large trees or other objects could reduce the amount of sun on your solar panels.
- Is your roof new? You need to replace your roof before you can install solar panels so they have an even surface. Generally you need a new roof every 10 years, so that’s an additional cost to consider. The average price of a new roof is between $5,000-$10,000.
What Costs Do You Need To Consider?
Solar panels are an investment that pays off over time, but here are a few financial considerations.
- Apply for energy rebates and incentives. Depending where you live, countries like Canada and the United States offer rebates and credits. Look into your region and see how much money you can save going solar.
- The average cost of installing solar panels is $15,000 – $25,000, which averages to $2.80/kW. The upfront cost is an investment but later your fuel costs will be zero.
- Cleaning and Maintenance. Solar panels require little cleaning and maintenance. They do need to be cleared of snow, which you can do yourself.
- Replacing Your Roof. As mentioned before, you may need to replace your roof to allow for a smooth surface to apply the solar panels. Factor this into your budget so you don’t have any surprises.
Key Benefits of Solar For Your Home
There are numerous benefits to going solar, but here are a few key ones.
- Reducing your carbon footprint. Solar energy reduces gas emissions, dangerous pollutants and water consumption.
- Increase the value of your home. Solar panels are considered an upgrade to your home and can increase the value by $15,000.
- You’re covered by warranty. Most solar panels have a warranty of 25 years in case anything goes wrong.
- Reduce Your Energy Bill. Your energy bill will be practically zero and you can even sell energy back to the grid to use as a credit in winter months.
Alberta and Saskatchewan are the sunniest provinces in Canada if you are considering investing in solar. Looking to move or buy a new home? Check out St Albert real estate