If you are preoccupied with increasing energy costs for your house, you are probably interested in solar photovoltaic panels capable of producing electricity. It is thus not surprising that solar energy is so popular; it is available and renewable, and also clean. In addition, installed costs are dropping.
Basically, exploiting solar energy is likely to reduce your energy costs in the medium and long term. But is it really cost-effective to equip your house with solar panels? According to many people, yes, that is, provided your project is well planned and implemented.
Here are 8 relevant points to consider, and that will help you in your decision-making process.
1. Two Designs, Two Prices
One of the first questions you must ask yourselves involves the type of panels that best suits your house. There are two main types of photovoltaic collectors:
- Polycrystalline, which is a relatively simple design;
- Monocrystalline of the latest generation, which is more efficient, but also more costly.
Due to their lower purchase price, polycrystalline solar panels, compared the other type, offer the best value for money at the moment. Although, some monocrystalline panels will offer a higher efficiency which might help you with your return on investment (ROI). Sometimes, your solar installer will have promotions on some of the materials which can help you generate the best ROI and the shortest payback period.
2. Energy of the Future
Solar energy is undoubtedly the energy of the future. By purchasing solar panels for your house, you contribute to the development of this technology.
Over time, the increase in use of solar panels will greatly contribute to reducing toxic emissions, which in return will provide a cleaner environment for our children.
3. Reliable and Inexhaustible
In addition to being green, solar energy is reliable and inexhaustible. Once correctly installed, your solar panels provide an energy whose supply is actually risk-free.
Obviously, certain regions receive more sunlight than others. It is up to you to take that into consideration in your assessment. What’s also important, is to verify your local grants because there are areas where you will find 50% less sun with a much better ROI vs an area that is always sunny but that doesn’t have a solid solar infrastructure.
4. Clean Energy
The operation of solar panels for your house produces no pollution. This is one of the major advantages of this technology in terms of environmental impacts: no CO2 emissions or other toxic gases. In addition, no movement is required for the panels to work, thus no noise is generated!
For anyone asking, most of the components of solar photovoltaic panels are also recyclable.
5. Self-Consumption and Energy Independence
One of the most exciting aspects for home solar panel owners is the possibility to achieve energy independence. To do so, you must obviously invest in solar photovoltaic panels that are capable of producing electricity in sufficient quantities to meet your needs.
Take the time to research the batteries specially designed to receive and store the energy produced, which will allow you to optimize your self-consumption of electricity.
6. Increasingly Affordable
Over time, solar panels are becoming increasingly affordable. However, they still require a considerable initial investment. Hence, it could cost $10,000 to $30,000 to install solar panels on your house depending on the surface area covered. This cost would be considered a turnkey solution of course.
Many different forms of financing are available across North America. From leasing programs to PPAs. Although, the most profitable plan for a home owner is to own your system so a cash purchase or a straight up loan would give you the best from what solar has to offer financially.
7. Increased Profitability
Due to the drop in prices, amortization of your solar photovoltaic panels can now be done more rapidly, within a few years of the purchase.
In certain regions, it is possible to sell the surplus electricity, if need be. However, this will not be a significant source of income but more a savings plan on future utility bills.
Important point: the installation of solar panels will add value to your house.
8. Sustainable Technology
In general, solar panels for houses are sturdy and sustainable. The collectors have a good resistance to UV rays and to different weather conditions like the cold. In addition, as they do not move while they are functioning, they suffer from very little wear.
The average lifespan of solar panels is approximately 25 years. Their loss of efficiency is estimated at only 1% per annum. However, you will have to change the inverter, which is necessary with all photovoltaic collectors, approximately every 10 years.