Solar Panels vs. Your Wallet: The Costly Truth Homeowners Face

These days, a common questions we receive is: Should we install solar panels?

Venturing into the solar market might seem like an obvious business move. After all, solar panels are becoming increasingly popular, appearing on rooftops and open fields in neighborhoods across the country. And lets be honest, we could make a good amount money installing them.

The promise? Lower electricity bills and a smaller carbon footprint. But before you commit, there are critical drawbacks to consider—ones that most solar sales reps conveniently leave out, and the reason we do not install solar panels. Let’s break down the reality of solar panels, including both the challenges and benefits.

The High Upfront Costs

One of the biggest hurdles for homeowners considering solar panels is the hefty initial investment. Here’s what you should know:

• Significant Upfront Costs – The price of solar panels, along with installation and essential components like inverters and batteries, can be a major financial burden. For many, this makes solar panels impractical from a cost standpoint.
• Long Return on Investment (ROI) – The savings from solar panels take years to offset the initial cost. If you’re looking for immediate financial relief, solar might not be the right choice.

Ongoing Maintenance & Repairs

While solar panels don’t require daily upkeep, they aren’t entirely maintenance-free requiring maintenance over the long term to keep them operating efficiently. Here are some hidden costs:

• Regular Maintenance – To maintain efficiency, solar panels need periodic cleaning and inspections. These expenses can accumulate over time.
• Limited Lifespan – While solar panels can last 25+ years, their efficiency declines over time. Decreased performance may require costly repairs or even complete panel replacements, cutting into your expected savings.
• Increased Efficiency – Newer units will always become more efficient leading to expensive upgrades needed to keep up with power efficiency and your power demand.

Crunching the numbers: You might just be swapping your electricity bill for a solar panel payment. And by the time you’ve finished paying them off, you may need new panels. Is that a risk worth taking?

At 616 Roofing & Exteriors, we could make millions by selling solar panels. But we don’t—because our goal isn’t to sell you something you don’t need. It’s to protect your home and your investment.

Uncertain Financial Returns

It’s easy to assume solar panels = no electricity bill. But the reality is more complicated.

• Variability in Electricity Production – Factors like location, weather patterns, and panel placement influence how much electricity your system generates. That makes predicting savings difficult.
• Shifting Government Incentives – Tax credits and government rebates can make solar appealing—but they aren’t permanent. With political changes, what’s a financial advantage today could disappear tomorrow.

Real Estate Considerations

In our experience, solar panels have caused real estate deals to stall, sour, or fall through entirely. Why? Let’s say you have $20,000 in home equity but still owe $35,000 on your solar panels. Selling your home becomes a financial nightmare.

Even if you have positive equity, are you willing to sacrifice it just to pay off the panels? If your home isn’t your “forever home,” solar panels might end up costing you more than they save.

Are There Benefits?

Yes, in some situations, solar can be a smart investment:

• For Business Owners – Solar panel costs can be written off as a business expense, potentially giving them some tax advantages (Please consult a tax expert)
• For Home Buyers – If you purchase a home with fully paid-off solar panels, you might see savings—so long as the added cost of the panels doesn’t raise your mortgage beyond what you’d normally pay for electricity.

For most homeowners, however, the financial benefits of solar are far less clear-cut.

The Bottom Line

While solar panels are an environmentally friendly option, they aren’t always the cost-effective solution they’re marketed to be. Between high initial costs, ongoing maintenance, and uncertain returns, many homeowners ultimately find solar to be more of a financial burden than a benefit.

If you’re in your forever home and plan to stay put for decades, solar might be a long-term play worth considering. But if your life circumstances change—whether through relocation, job shifts, or financial uncertainty—solar panels can quickly become a liability.

At 616 Roofing & Exteriors, integrity is at the core of everything we do. We prioritize transparency and quality workmanship, ensuring our customers always receive the service they deserve—whether it benefits us financially or not. Because at the end of the day, our mission remains the same: Raising Roofs, Building Trust.