Solar panels are the prime way to shift to a clean, renewable and inexhaustible source of energy. However, the substantial cost of buying and installing solar panels often deters people from making the switch.
Let’s break the myth and find out how solar panels have the makings of a good investment:
- Solar panels used to cost big bucks in the days gone by. With improvements in technology and rising manufacturing volumes, the costs of solar panels have gone down significantly on the one hand, and the efficiency is radically improving on the other.
- There are generous incentives such as rebates, grants and tax credits for switching to solar energy. This will further subsidize the cost of going solar.
- Some established solar panel companies offer free installation on their products.
- Once you start using solar power, your utility bill is bound to go down drastically. The cut in energy bills can spell for some massive savings in the long run.
- Not only are energy prices high; they also tend to rise frequently. Switching to solar power will fix your energy costs and also insulate you from the unpredictable fluctuations in electricity rates.
- You can opt to have your solar power system connected to the local utility grid. In this way, you can draw electricity whenever needed and also pump back the excess generated by your system. ‘Selling’ the excess power back to the utility will bring a further rollback in your electricity bill. The rules and regulations can vary from area to area and utility to utility.
- Solar panels are durable and require little to no maintenance during their lifespan. They are supported with solid warranties too. In fact, a good quality solar panel will easily last for 25 years and still continue to produce around 80% of its capacity. Therefore, you don’t need to worry about servicing, maintenance and replacement costs for a long time.
- Another offshoot is that efficient and properly installed solar panels can bring about a considerable boost in the value of the property. Indeed, potential property buyers find houses equipped with solar power systems much more attractive and are willing to pay a premium for the same. Such properties tend to sell much faster too.
It has been estimated that solar power systems can pay back within 5 to 8 years on an average. Considering that solar panels from the best solar company are expected to last for at least two to three decades, they actually spell a massive return on investment (as high as 20%).
Therefore, solar power systems should not be viewed as an expense, but as a sound investment that will yield substantial returns in the future. And the best solar company will strive to ensure that you get the maximum benefits possible.
So don’t let the thought of solar panel costs hold you back anymore!