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Are Solar Panels Worth The Investment

We have known for a good period of time that solar panels are environmentally friendly and are a greener solution to the pre-existing solution to our electrical power needs. Nevertheless, we have more often than been briefed about the advantages of photovoltaic systems. However, the upfront cost of the solar systems leaves many of us confused about whether purchasing these plants is a good investment or not. 

In today`s blog post, we will be discussing the pros and cons of utilizing solar energy at home while giving fair suggestions about the cost of installation of solar panels for your home and how to get the best deals on installation or the strategies you can use to minimize the cost of installations. Once you are done with this five-minute read, You will have a fair share of ideas of what to expect while getting a solar panel installation.

What Are The Pros And Cons Of Using Solar Energy At Home?

The energy provided to earth by the sun in an hour can meet the electrical needs of the whole planet for a year. Nevertheless, the efficiency of solar energy conversion by solar panels is always in question. In the prior years, it has been fairly criticized for its efficiency; truth be told, solar panels have come a long way. Not only in reference to the efficiency but also including the cost of installation and payback period. The increased grants by the government, continuous struggle to optimize the conversion process and better inspection, as well as utilization of materials that are more potent to produce electricity are some of the factors that have contributed to the minimum payback period. 

The increased competition in the solar panel industry is the other reason for the cost of installation. Nonetheless, the cost of installation is still pretty significant, and it can not be ignored. However, these Pros And cons of installing solar panels can help you craft a clear picture. 



A Renewable Source Of Energy

Regardless of the new market competition, the initial cost is fairly high.

Most of your electrical needs will be met by solar panels. As a result, you should expect some reduction in electricity bills.

Even though solar energy can still be connected through rain and clouds, it could harm the efficiency of conversion.

Multiple applications, from distilling the water to producing energy, especially at remote resources.

Solar energy is stored in batteries, which can be rather expensive.

The cost of maintaining solar panels is relatively low.

To cover the electrical needs of a median house, you would need to cover a lot of square feet to achieve the net electricity bill to zero.

There is still tremendous potential for innovation in the solar panel industry, with advancements to increase its efficiency being made every day.

Sure it is the greener option, but the production of its component does have a negative impact on the environment.


What is the Biggest Advantage of Using Solar Energy?

The recent surge in fuel prices has all of us compelled that the moving to renewable energy resources as the ultimate solution. However, the ultimate benefit that solar energy delivers you is to work on the days you are off. Suppose you are abroad or out of the house all day, with utility bills, you still have to pay the line charges. In the case of solar energy, if there is any excess electrical energy produced, you can get paid for the electricity units you produce. This payment can help you achieve the payback period earlier. Besides the benefits mentioned, solar panels have relatively fewer hazards and are far safer than traditional electric current. 

How Much Do Solar Panels Cost?

Nevertheless, the upfront cost of installing the solar panel setup can easily be covered over a period of 8-10 years, depending on the efficiency. But How much does it cost to install a solar panel? 

On average, a solar panel costs about 17000$. However, the cost can range anywhere from 3500$ to 38000$. The extremes of the cost of solar panels depend upon several variables. Including the efficiency of panels, the type of solar panels as well as batteries being used to convert the solar energy into electrical energy. The Three essential factors include

  •  Size: What are the Energy needs of your house? 

  • Weight: How much space on your roof can be used to install solar panels?

  • The number of panels: What type of solar panel will you use for your home? Similarly, the type of wattage and efficiency varies, which is the core reason for the change in cost.

Once you have analyzed these factors, calculating the installation cost is relatively easy. 

How to Get the Best Deal on an Installation

It is necessary to check with regulatory bodies whether you can install solar panels on your roof or not. Moreover, you will require a permit to install solar panels on your roof in some states. The best way to find installation deals on solar panels is to hire a solar panel consultant and source your equipment from a quality supplier like Sungold power.

Another way is to make the best of the solar power installation by availing tax credit from its purchase. The United States government has historically allowed a 30% tax credit on the cost of the system installed at your house. There are other incentives available for the installation of solar panels. However, the incentives vary from state to state. Contrary to popular belief installing the panels in winter is far more cost-effective than installing the solar panels in summer. 

Is it Worth Investing in Home Solar Power?

Getting a solar panel system that is good for 20-25 years of a lifetime is hard to find. However, with sun gold power solar panels, that is the generic lifespan of the solar panels. Nevertheless, you can never be too sure about the quality of these products, especially as it is the first time it is okay to have your reservation. The solar panels at sun gold power shop come under a warranty of a year, which is enough to test the quality as well as the efficiency of conversion.

Going through the calculation and finding the best solar panels with the best efficiency. The only number you will be left with is the number of years. In how much period of time will this convert into a profitable investment? The average tenure is 8-10 ten years; however, if you manage to opt for solar panels from a reputable source like Sungold power, you can expect to reap benefits for about 20-25 years. At the same time, it might not be a wise choice for homeowners living on the north pole or Alaska due to the lack of sunlight. Yet if, as a homeowner, your state offers special tax incentives for solar panels, has optimum spacing on the roof, and then you experience a surge in the electricity bills, the right time to make the switch would be now.