As an Edmonton homeowner, you might be considering the benefits of solar panels for your home. With sustainability top of mind and the rising costs of energy, solar panels are gaining popularity. Before you hit the roof, read on to learn more about what’s involved when installing solar panels in your home.
Benefits of solar panels for your home
Reduces environmental impact
Solar Photovoltaic (PV) technology converts sunlight into direct current electricity using semiconductors. Solar panels are the most common PV cells that produce energy in this manner. Solar energy is a clean, renewable energy resource that does not produce greenhouse gasses or harmful emissions, making it a top eco-friendly choice.
Saves on energy costs
Solar panels can be used to generate power for your home. The panels themselves convert sunlight into direct current (DC) electricity. The installation crew will also install an inverter which will convert this DC electricity to alternating current (AC) electricity, which is what is used to power your home.
Any excess electricity produced by your solar panels that isn’t used for your home can be sent through your power meter back to the power grid. The extra electricity you contribute to the grid is measured and you receive a generation credit on your monthly power bill.
Increases property value
Homes equipped with solar panels often correlate to an increase in property value. Potential buyers view solar panels as a valuable addition due to the long-term energy savings and the appeal of a home with green features. This can be a great selling point.
Are solar panels a good investment in Edmonton?
The short answer is, yes! Edmonton ranks as one of the sunniest cities in Canada landing in the top five cities and clocking nearly 2,300 hours of sun last year. On average Edmonton gets close to 325 days of sunshine per year.
In terms of locale it doesn’t get much better than Edmonton if you are considering installing solar panels for your home.
However, there are other factors to consider before adding solar panels to your home. The size, pitch, and direction of your roof and whether or not your home is shaded by trees or other structures may impact the output of your solar panels.
Edmonton also experiences long winters with reduced daylight hours and significant snowfall. Snow cover can interfere with the panels’ ability to generate electricity. Factoring in seasonal variances and overall maintenance is important.
In general, investing in solar panels is a smart decision for most homeowners. It’s certainly worth investigating if the option makes sense for your home. When reviewing solar contractors, make sure you get a detailed quote and economic analysis. They should be able to estimate how long it will take for the panels to pay for themselves in energy cost savings and generation credits.
How much does it cost to install solar panels?
The cost will depend on the number of solar panels required, the layout or arrangement of panels, and any electrical upgrades necessary for installation.
On average, the cost to install solar panels on a single-family home ranges from $15,000 to $30,000 before any funding incentives or rebate programs.
Summary
There are some significant benefits of solar panels including reducing your carbon footprint, reducing energy costs, and increasing the resale value of your home.
While not an insignificant upfront investment, depending on your overall situation and long term plans, it may be worthwhile investigating if installing solar panels is right for you. Owning a more sustainable, energy-efficient home is always a good investment for the future.
Wally Fakhreddine is a top selling real estate agent serving Edmonton and surrounding communities for the past 20 years.
Call or text him at 780.238.7384 if you need advice about buying or selling a home in Edmonton.