Renewable Energy Benefits And Drawbacks

renewable energy feature

It’s not a surprise that renewable energy is the future of clean and environmentally friendly energy. The sun shines bright every day. The wind blows all the time. And water has been flowing in rivers for thousands of years. These things will keep on happening no matter what we do, which means that their potential is infinite. 

Luckily, we’ve found ways to harness the power of these natural phenomena, and we can now store their energy as electricity. We must strive to reduce our reliance on oil, coal, and gas, which are dangerous for the planet. Plus, we need to preserve the finite resources we have, not destroy them into oblivion.

When it comes to integrating some of these technologies in your home, there are several factors that you need to consider. At the moment, the best choice is definitely solar, unless you have a river flowing in your backyard. 

Of course, you need to learn a little bit about all of the benefits. And the downsides of these types of technologies, and if you plan to switch. Also, you need to understand where you’re putting money. Here are some of the main pros and cons that you should know about renewable energy.

Renewable Energy Benefits

1. Lowering your monthly expense on electricity 

renewable energy

We’re all aware that there’s an energy crisis in the world. The electricity bills keep getting higher, while the paychecks stay the same. This leaves a lot of people worried about the future. The current state of the power crisis is still unknown since Russia is the main exporter of gas in the world, and they’re currently in a conflict with Ukraine. 

This will have a lot of repercussions since the European Union is already struggling to make ends meet with the renewable energy production mechanisms they have installed. Unless you want your electricity bill to be influenced by major political events, the best thing to do would be to install a solar system. 

The main advantage is that you will have instant access to free power that comes directly from the sun. If you have room to put a lot of panels, then your expenses will decrease dramatically. Additionally, you might be eligible for credits for the excess energy you produce, which will put even more money in your pocket.  

2. Tax benefits 

Taxes always remind us that we’re not living in a perfect world. No one understands them completely, and the entire system is a complicated mess. Go to this website to read more. The only positive thing about them is installing a few solar panels, which will give you a federal tax credit that can be worth up to 30 percent of your entire upfront expenditures. 

If you live in New York, you could even get 5 000 dollars extra. These kinds of advantages have persuaded people to invest in solar and get an even earlier return on their investments. As a bonus, there have been plenty of jobs created, and the entire sector has rapidly expanded in a short period of time. However, you should be aware that you have a limited time to install the system, or else you might miss out on the reimbursements.  

3. Combining panels and batteries 

renewable energy batteries

Batteries and solar panels go together like peanut butter and jelly on a piece of bread. They’re an excellent match for each other. This is the ideal combination for people that don’t want to rely on the grid and pay any electric bills. In essence, the panels are collecting energy straight from the sun, and the batteries are storing it for future use.

It’s like charging your phone during the night so you can use it during the day. In this case, you’re generating as much power from the sun, and you use what’s left during the night. To ensure that you have enough power, it’s advisable to install several batteries. That’s a pricey investment, but it’s going to save you in a lot of emergencies or during rainy and cloudy days.

Renewable Energy Drawbacks

4. Higher Installation Costs

renewable energy installation cost

During the previous decade, the costs for installing a solar system have dropped by a large margin. However, that’s still not enough for the average consumer to buy on a whim. Since most of these devices have a 30-year lifespan, you’re essentially paying for your energy bills upfront. 

This means that the cost is quite high in most cases. Luckily, there are a couple of financing options that allow you to pay as you go, which will help you save right away. Over time, this investment is going to pay for itself, but you need to have all of the components for everything to work right from the get-go. 

This includes the installation, wiring, inverters, and panels. Reputable companies offer 20-year warranties, which means that you need to make the right choice. Additionally, plenty of banks and credit unions provide excellent options if you want to invest.  

5. The permission procedure might take a long time

Plenty of individuals is unaware that you need to get approval from your local government agency before you install a renewable energy source. This is not the same as installing new windows or changing your roof. 

These kinds of regulations might cause your installation to take weeks or months since it all depends on the stringency of your local government. To ensure that the process goes as smoothly as possible, it’s critical to have a grasp of the rules.