As of 2016, there were over 1 million solar installations contributing to electricity in the United States. Now, in 2019, that number has grown exponentially. Solar power is on the rise and for good reason—solar power is clean, and more affordable than ever before, making it a viable alternative to electricity. However, despite its popularity, there are still common myths associated with solar that deter people from adopting this clean alternative. Let’s break down the myths and get to the facts!
Myth: Solar Panels are Not Affordable
The most popular myth surrounding solar energy revolves around the topic of cost. In short, while many believe solar power is too expensive for the Average Joe, it’s simply untrue. The cost of solar energy has declined every year since 2009, making it incredibly affordable for many Americans. What’s more, in a majority of US cities, a residential solar energy system is more economical than electricity purchased from a local utility company.
Myth: Lower Home Values
The origin of this myth is quite puzzling since it is highly false. If anything, utilizing solar energy will increase the value of your home. In many cases, real estate professionals have reported that prospective buyers actually view solar panels as upgrades. According to a 2015 Berkeley Lab study, “home buyers were willing to pay $15,000 more for a home with the average size solar photovoltaic system.”
Myth: Solar Power Only Works in Certain Climates
Whether you’re in Washington state or Florida, your climate means nothing when it comes to the efficacy of solar energy. Anywhere the sun shines, solar power will work—period. In the winter, when the days are shorter and there is less daylight, the sun still emits incredible amounts of energy that solar panels will absorb. Solar panels have even been proven to work in Alaska during their long, cold winters. You can rest assured that this myth is thoroughly false.
Myth: Renters Can’t Use Solar
Think solar power is only for homeowners? Well, think again! More and more community solar programs are popping up around the country. With these programs, multiple people can utilize a shared solar array that’s been installed on the building or offsite at a separate location. Many housing developments and apartment communities are starting to use solar energy. If clean energy is important to you, doing some research can help you find communities that use solar.
Solar power is quite possibly the new frontier for real estate, with more and more professionals and facets of the industry embracing this clean energy. To stay up to date and in the know about the market, you need to understand the facts and falsehoods surrounding solar energy. The more you know, the more likely you are to recognize great opportunities when you see one—and opportunities abound when solar power and real estate collide.