MYTH #1: Solar is still too expensive and takes too long to recoup my investment.
FACT: Perhaps one of the most unfortunate solar myths is that it’s only for rich people and/or environmentalists, when in reality many homeowners choose to go solar simply because it eliminates their big monthly electricity bill. In fact, solar is a very wise choice for people who could actually use the extra couple hundred bucks a month that they’re currently paying in power bills. Modern financing options have all but eliminated the barrier to entry for solar (big upfront costs), so many households are now able to go solar for little to no money down. Solar is one of the very few household purchases that will actually pay for itself. Studies show that on average, solar panels return two to four times their cost in saved electricity bills and typically pay for themselves completely within 5 to 15 years. If you live in a state with good incentives, the payback period can be as short as 2 to 4 years.
MYTH #2: Solar technology will get more efficient, so I should wait.
FACT: The truth is we’re still using the same solar technology we were back in the 1960’s. Since then, solar has become only moderately more efficient. Given this stable technology profile and the 30 percent federal solar tax credit (plus many state incentive programs) solar makes sense right now. Once installed, your panels will continue to work for decades.
MYTH #3: Installing solar panels will increase my property tax.
FACT: In many states, solar installations are property-tax exempt. From an investment perspective, this means that installing solar panels could increase the resale value of your house without costing you an extra dime in property taxes. The same cannot be said for other home investments such as swimming pools, a new deck, etc.
MYTH #4: Solar doesn’t work on cloudy days.
FACT: Solar panels work just fine in ambient light and will produce significant energy on overcast days. In fact, solar panels are actually more efficient at cooler temperatures than hot ones.
MYTH #5: Solar panels require maintenance.
FACT: Solar panels have no moving parts and do not require any maintenance.
MYTH #6: Solar panels will cause my roof to leak, deteriorate or collapse under their weight.
FACT: Solar panels actually protect and preserve the portion of the roof they cover. If there’s ever a problem with the roof that needs to be repaired, panels can easily be removed. Most solar panels are not attached directly to the roof itself, but rather to a mounted railing system. In fact, they are known to survive even a hurricane.