3 things to consider before investing in solar energy

Investing in solar energy efficiency can be a great step toward decreasing your carbon footprint and monthly utility bills. 

According to Boy Genius Report, rooftop solar panels are becoming such a powerful factor in the energy market that they have pushed electricity prices into the negatives in some parts of the world.  Recent analysis from one of these negative price areas, Queensland, Australia, has discovered prices dropping to AUD-$100.

Research has also found that electricity consumption has dropped by 13 percent over the past four years. Within the next 10 years, 75 percent of Australia's residential buildings and 90 percent of commercial buildings will be outfitted with rooftop solar panels. 

What does this mean for the U.S.?

If you're interested in installing solar panels, consider the following three pieces of information before making the first move.

  • Actual cost: Determine what the real cost of making a solar energy change will be. Ensure it is something that is both affordable and beneficial for your home. In addition, check out state and federal renewable energy tax credit options that may be available. Although some are ending within the next year, they can still be considered applicable now. 
  • Amount of time spent in the particular residence: Solar systems are designed to last 20 years or longer. If you're considering moving before this time is up, see if the company that installs the panels will allow you to take them along to your new residence.  If not, it can be a great way to pull in a purchaser, but you will lose out on the actual use of the panels. 
  • Lifestyle: if you don't use a lot of power to begin with, investing in this change wouldn't be worth its cost. Check out the part of your bill that specifies metered electricity in kilowatt-hours (kWh).

Learn more about energy efficiency on our website or schedule an energy audit with Alban Inspections today.