Solar energy has become a popular and widely used resource that more and more households around the world are implementing. With environmental consciousness expanding and electricity bills increasing, there’s been an upward trend in the sales of green technology.
And the top green technology to do just that?
Solar panels.
It’s not cheap to install them initially, but you will get so much return on investment that in a few years’ time your home will be completely transformed. Here’s how solar panels can benefit your household.
Solar payback
You might have to spit out a sizable amount of cash in one go, but it will definitely pay off in the long run. Not only will you immediately reduce your electricity bill, but over time, your installation will pay for itself. This is known as solar payback. This means that you’ll be able to pay off a loan with the money you’ve saved on electricity.
Savings and investments
The number of cities and countries that are embracing the benefits or solar power is growing. For example, in Hong Kong, the government has plans to power the entire city with solar energy in the future. Countries like Vietnam are taking steps to reduce coal production and replace it with clean energy. In Malaysia, where the sun shines bright from 6AM to 6PM, going solar is simply the smartest, most affordable way to get the needed electricity. In the US and Canada, real estate with solar panels tends to sell faster and at a higher price.
How much you’ll save from solar panels depends on where you’re from and how your house is positioned. You might get more out of it if you live in a sunny place than somewhere where the sky is constantly overcast and you’ll save more if you invest in good equipment. In addition to solar panels, a quality solar inverter and durable racking will make sure the whole setup lasts a good, long time. Once you have the systems installed, you can simply enjoy all of your saved up cash, or you can sell your property at an increased value and earn even more.
Government incentives
Another way that solar energy can increase your savings is by actually helping you turn profit. In some countries, you can get a renewable energy incentive which means that the local utility company may actually pay you. These incentives are meant to encourage homeowners to switch to solar energy. In addition, if you opt for a large installation, you’ll probably produce more electricity than you need. In that case, there may be companies in your area that will buy the excess energy from you.
Beware of demand charges
Households that switch to solar energy usually remain connected to the power grid. The reason behind this is that they need another source of energy because solar panels can’t generate electricity when there’s no sunlight. On those occasions, households draw energy from the grid and they are billed demand charges. However, by controlling your energy use and producing enough energy, you can reduce your electricity bills even to 0. Apart from regulating your consumption, you should ensure that your panels produce enough electricity during peak demand periods. Another possible solution is using a battery storage system rather than drawing energy from the grid. This way, you can store excess energy in the battery system and then use it during cloudy days.
The size of the solar system
The size of your solar system is a major factor that determines how much energy you’ll generate and how much money you’ll save. Solar systems are a modular type of technology and consist of a certain number of solar cells, which means that there’s no exact number of solar panels you need to install. You can install as many as you want, but the larger the system is, the more energy it will produce and the more money you’ll save. The most common solution for households with an average electricity consumption is a reliable 3kW solar system, while a 5kW system is more appropriate for households with larger demands. Before buying a particular solar system, take some time to assess your needs.
Solar power is the future. Almost every government in the world is now investing in renewable sources of energy, which means that the green trend is unlikely to die down. Grab your solar system now and you’ll reap the benefits for a long time to come.
About the author: Lana is a stay-at-home mom, writer, and interior design enthusiast. She loves writing about interiors, but her specialty is landscape design. She enjoys playing in the kitchen and cooking for her friends and family, spending time in nature and learning about other cultures by traveling. She is a regular contributor to smoothdecorator.com