Solar Energy Rooftop Panels

There's a growing trend in energy conservation is solar powered technology. The supply of natural resources is decreasing substantially which has triggered innovations in green energy.

Since the past decade, just about $43,000 would pay to put solar panels on your home's rooftop. In 2015, the average cost is only $29,000.

With that price, the cost of having a solar roof is lower than the average new car price, which is currently $33,560, based on data from Kelley Blue Book. In truth, the cost is much lower since the actual price doesn't include renewable energy tax credits and other incentives from the government.

installation of solar panels
Solar Panel Installation on the Rise

How Does Solar Energy Work?

As one would expect, solar energy cells and panels operate by taking in the Sun's energy and converting it to a useable source. Silicon is mounted behind non-reflective glass to generate photovoltaic (PV) panels that accumulate photons from the Sun and transform them into DC electrical power that flows into an inverter, the energy is then converted into AC electrical power.

After decades of scientific research and development by engineers, solar panels have become a lot more cost-effective and are able to provide power for typical daily activities and are environmentally-friendly.

Should you buy, or should you lease?

There are two options for getting solar panels installed. The first step is a company installs panels on your roof. If you don't want to pay for the panels, you can lease them and charged for the electricity you use. In some cases, the consumer will be responsible for the electricity usages. In many cities throughout the country, the bill for solar electricity is considerably less than paying for a typical utility bill. So, it becomes a no-brainer if you can save money and decrease pollution by getting solar panels.

What You Should Know Before Getting Solar Panels

The age of your roof is a factor. If you are thinking of putting in a new roof in the next 25 years (which is how long Solar panels last), make sure the cost of removing and reinstalling the solar panels is defined in the contract.

Then decide whether you want to buy or lease your solar panels. In the beginning, it will for sure be less costly to lease, however, with a typical 20-year contract, you will likely pay more.

For those thinking of paying for the solar panels up front, it will can cost anywhere from $16,000 to $24,000 or more. The advantage is the cost will be paid for in 5-10 years. After that, you'll have totally free electricity for as long as the panels survive.

If all that sounds good to you, the next step is picking which solar company to install your panels.

Some Reasons Why People Like Solar:

"There's no noise, no emissions, it's not visible (unless spend time on the rooftops), it produces electricity, and it makes perfect financial sense.

New research performed by the Lawrence Berkeley National Laboratory in California and sponsored by the Department of Energy reveals that home buyers are very open to pay a higher price for homes that have solar panels on the roof.

Sales data was conducted a little over 10 years, 2003 to 2014 for roughly 23,000 homes in eight states. Approximately 4,000 of the homes had solar photovoltaic systems, all of them owned outright.

The study found that buyers were prepared to pay $15,000 more for a home that had an average-size solar photovoltaic system (3.6 kilowatts, or 3,600 watts), rather than a similar size home without solar panels.