With all the eco-consciousness going around, many people are quickly looking for alternate sources of energy. We have seen cars switch from gas and diesel to being electric now. Many houses in the suburbs and buildings have now resorted to using an alternate energy source of solar power. Now, the question arises: is solar panel installation really worth it?
Does it actually save money in the long run? Solar panels are generally made of photovoltaics that harness the sun’s energy and change it to an electrical current that powers your home. They’re so sensitive they do not require direct sunlight either; solar panels work on overcast days too. However, the voltage generated will be relatively less.
The monetary savings you’ll have by the installation of solar panels far outweigh its expenses.
Table of Contents
Electricity Costs Are Cut Down
Since electricity is generated from the quantity of sunlight that falls on your roof, you actually cut back a lot on the electricity provided to you commercially. If the solar panels you have installed are large with good surface area, you can generate enough electricity to cater to all your house needs.
This uses less electricity from the main supply line thus lowering your electricity bill. There are energy-saving calculators that give you an approximate of how much electricity and what proportion of it you save. This can help you get a clear idea of how much power and money you save.
Depending on the location you inhabit and how much sunlight your roof receives, this can cut back 30-70% of your monthly electricity bill. Many people are now relying on solar panels to reduce the burden of their electricity bills. Many offices have now installed these to cover basic electricity costs. This is seen in offices running 24 hours where during the daytime, they try to run on solar energy.
They have been steadily reducing in costs too
Installation of solar panels isn’t cheap. It should be treated as a one-time investment. However, with more and more people installing it and with the concept trending, the prices of solar panels have been falling. Opting for a basic but good model of a solar panel like a 4 kW solar panel system with 16-20 panels spanning 29-30 meters of the roof is the optimum choice although there are smaller ones available.
This supports a basic household of three to four people. There are many solar panel dealers that also have a large set of options for you to choose from, whether your need is personal or corporate. Certain websites like www.futofolia.hu also guide you on which system to choose based on their energy and cost-effectiveness.
There are also many federal tax schemes that cut back on the costs of solar power systems to encourage more people to purchase them. Especially with many countries now moving towards more environmentally friendly ventures, we think that installing alternate energy systems is a judicious approach.
It is a long-term investment
Even if it does seem like a costly option to install solar power panels in one go, it actually saves up a lot in your electricity bills. You can recover the whole amount you invested in about five to ten years making it quite a long-term investment. In some countries, where there is ample sunlight, the money you’d save in two years would be enough to recoup the installation costs, making it a very smart option.
If you have a property that you’re trying to give for lease or rent, having this is an added benefit as most families now want home solar panels to save electricity costs. In fact, many clients have claimed to reach net zero, which means they incur zero electricity bill costs during summer months in sunny areas.
The new concept of getting paid for the electricity
People who have solar panels installed can now register in a scheme called the SEG tariff. Here, as your line will be connected to the main electricity supply grid of the nation, any excess electricity that you generate will be emulated in cash.
This concept is called net metering and is available in specific areas. You’d be paid for the electricity that your solar panel system donates to the main grid. This monetary return doesn’t cover all the electricity that you generate as you’d be using a small amount, but an excess fed to the system will get you cash.
Many electricity suppliers have a fixed rate that they pay based on the length of your transaction with them and the tariff plan. This also is based on the volatile market demand and you would always receive a relative amount. This is all because you’ve installed a solar panel!
You’d definitely save money on water heaters and heating systems
If you belong to a cold country, 85-90% of your electricity bill will surely be because of heating costs. Heating equipment and devices consume the most electricity. This can be bypassed by installing solar-powered heating systems. Many places with swimming pools that require heating and cold countries often use solar panels to give a boost to their heaters.
The solar panels would be dedicated only to heating either the homes or the pools saving a huge part of their electricity bills. Solar energy is the most abundantly available energy and takes much less effort to generate. Also, many attractive conduction disks and heating equipment which are solar panel derived have been quite popular to heat swimming pools and jacuzzis. Hence, many families and property owners avail of this to heat up things of large volume to cut back on costs.
Apart from all the above attractive reasons to install solar panels, you would also be reducing your carbon footprint and contributing your share to the environment. This is also a bonus and makes it quite a good option to have installed in your house.
The governments are also trying to get most of the buildings and residences to install solar panels to reduce the country’s electricity consumption. So, investing now in solar panels by choosing the right type, the right brand, and the right size of solar panels can go a long way.