Why is rooftop solar still considered too expensive despite subsidies
Study finds that rooftop solar is still too expensive despite subsidies
There are several reasons why rooftop solar is still considered too expensive despite subsidies:
- High installation costs: The initial installation expense of rooftop solar systems can be quite expensive, making it cost-prohibitive for many homeowners.
- Return on investment: Although there are long-term savings on electricity bills, the payback period for rooftop solar systems may still be too long for some consumers to consider it a worthwhile investment.
- Limited access to financing: Not all homeowners can easily access affordable financing options for rooftop solar installations. This lack of access to loans or favorable financing terms can deter potential borrowers.
- Maintenance and operating costs: While the cost of solar panels has reduced significantly over the years, there are ongoing maintenance and operating expenses that need to be considered, such as cleaning, repairs, and monitoring systems, which can add up.
- Restricted roof space: Some households may have limited available rooftop space, which can limit the potential size and generation capacity of the solar system, thereby reducing the economic benefits.
- Regulatory hurdles: Complex permitting processes, zoning restrictions, and other regulations can increase the overall costs of rooftop solar installations.
Answered
a year ago