Do You Really Save Money With Solar Panels?

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The efficiency of each part of a solar power system has grown rapidly in recent years. Not only can you turn the sun on your roof into the power needed to run your refrigerator during the day, but you can store it so you can use it to charge your electronics overnight.

How Does Solar Energy Save Money?

Solar energy saves money in several ways. The primary way that it saves you dollars is that solar is very low maintenance. The panels themselves have no moving parts to fail. Sunlight hits the photovoltaic cell and an electric charge is generated. This charge is fed into the inverter system, which converts the direct current generated by the panel into alternating current, which can be used by your house.

Do You Really Save Money With Solar Panels

This easy transfer of electrical power happens each time the sun comes up. However, panels are only part of the process. Proper wiring, a quality inverter and charge controller, and well-built batteries that are effectively maintained are absolutely necessary to a reliable solar power system.

How Much Does It Cost to Install Solar Panels?

The location of your home, the pitch of your roof and any upgrades to your existing electrical system will all have an impact on the cost of solar for your home. Another factor to consider is the length of time you plan to own your home. If you plan to stay in the home for the long-term, the answer to how much does solar cost will be lower.

The up-front cost of solar can be offset by tax credits and any breaks that your state will allow.

To keep things simple, consider the following equation: Estimates are that most homeowners spend approximately $1500 a year on their electrical bills. If you spend $15,000 on a solar power system, which may be high or low depending on the size of your house, it will pay for itself in ten years without factoring in tax breaks.

How Much Money Do Solar Panels Save You on Electric Bills?

Once you get through the pay-off period, your solar power system is free and still producing power for your home and pool. In fact, you can buy a solar power system with a 20-year warranty. After the ten year payoff period noted in the example above is up, you have ten more years of free electrical power, covered under warranty and powering your home.

Your solar power investment can also help when it’s time to sell your home. Picture your realtor taking potential homebuyers out to show off your electric meter as it spins backwards on a hot summer day. Solar technology has grown tremendously in the past 15 years. You can put this technology, the tax breaks and your future energy security to work for you now.

If you’re ready to have more control over your electrical access, now is the time to add solar to your home. There are multiple options out there, from rooftop to ground array and from purchases to a lease program.

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