Is solar worth it yet?

Came a question in my personal social media feed the other day when I made a post that Tucson Solar Insider LLC had been officially established.

The person who posted the question is a fellow ‘Nuke’, one that taught me a very large amount about the engine rooms while we were stationed on USS Nimitz together when we were Chief Petty Officers.

Needless to say, I respect his thoughts immensely and I think the statement within the question is very valid… 

The question-

“Is solar worth it yet? Worried about long term costs... panel replacement, battery life. initial cost .. etc.”

The short answer? It depends.

The long answer? Strap in, we’re going for a ride…

First- there is a bit of an assertion in the question that solar has been ‘not worth it’ but progressing towards ‘worth it’ as a baseline assumption. 

So I guess there’s kind of two questions possibly buried in this question…

1. Has the technology advanced enough to get enough energy from the sun to actually power a home consistently and reliably? Has the quality of the gear improved enough? Has the cost of the equipment lowered enough to make spending the money justified?
2. Have the improvements in solar technology progressed far enough that adding solar to my (specific) home makes sense?

For question #1-

Much of the equipment now comes with very long warranties. Some of it- like most panels- 25 years even. That is a very long time and certainly helps to potentially minimize the late-in-life maintenance needs.

The efficiency of the solar panels to convert the sunlight it receives into electricity has improved dramatically over the years. I guess in some ways we could say it is still improving… The solar panels in 5 years from now will probably outperform the current ones- and that will be the same for the ones that come 5 years later, I suspect.

The technologies associated with batteries have advanced a lot and battery prices, while still very high, have come down some. The storage capacity and lifetime of the batteries have had some improvements as well- increasing the time between battery replacements.

Advancements in software to operate all of the components has made big advancements as well, so operation of the systems has gotten easier to monitor and manage.

The equipment is being mass manufactured now and costs have lowered significantly from decades ago. Bottom line, prices are now low enough that it puts a home solar power system ‘in reach’ for many homes across the country.

Not to mention the Inflation Reduction Act of 2022 extending the 30% tax rebate for solar systems installed between 2023 and 2032…

So, all in all- yes. Things in the solar power world have advanced enough that it might be ‘worth it’.

I say might because…

For Question #2

There are many factors that go into the ‘worth it’ equation.

Some homes simply aren’t in a good area for the necessary sun exposure (location, shading, weather, etc.). What would be the point in a solar power system if it didn’t get enough sunlight?

Some homes/folks simply don’t use enough electricity to make a big enough difference in their monthly cash flow. (some in the solar industry suggest that 100-125 bucks a month is probably the minimum bill needed to see a monetary advantage).

Some folks don’t have enough tax burden to take full advantage of the tax incentives. If the system cost 20k, 30% would be 6k in tax credit. If you only owed 2k in taxes- it would take 3 years to get that back. 

Some folks live in areas where the power company actively presses against people going solar and have instituted all sorts of regulations and rules to follow. TEP, for now, does allow a version of ‘net metering’ (too complicated for here) that helps homeowners get back at least some of the excess power produced.

Some folks are early adopters, lovers of science, environmentally concerned/motivated, pride driven, etc. and don’t care how much it costs- they’ll get it.

The fancy financial folks usually chime in here somewhere talking about Internal Rate of Return (if you get a loan) or the Return on Investment (ROI) if you pay cash. That’s an entirely different discussion that kind of stems around the ‘best use of cash’ that is best left me out of it… 

I’ve certainly got plenty of opinions- but that’s the point… everyone should have their own preferences, opinions, and dare I say- REASONS as to why going solar is ‘worth it’ or not to them.

I’m putting together a book to cover this and more called Tucson Solar Insider Desk Guide for Buying Solar. If you are looking into solar for your home, you might want to get it BEFORE speaking to the sales teams… 

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Be Good!

Curtis