Solar Power For Homes Cost - Is It Worth It?
Green energy is a hot buzzword in today's political arena. Most people would love to have a renewable energy source that would pay for their personal and home energy needs while not doing irreversible damage to the environment. The real question is what is the cost of providing such an energy source?
Lets take one example of renewable or 'green' energy and look at the associated costs to weigh out pros and cons for having such systems installed. Solar power is a renewable energy source that utilizes solar panels covered in photovoltaic cells, which harvest sunlight and convert it into electricity, which can then be used to run household appliances. The energy harvested can supplement or even completely pay for monthly energy bills.
The idea is that during the peak hours of sunlight, the extra energy harvested would charge a battery bank, which would provide energy during the night or on cloud covered days. The advantages of solar energy can also include that fact that during a power outage, the system would continue to provide a home with essential day to day electricity use, as well as not adding to emissions and other waste products.
Solar power for homes systems have their drawbacks, however. Installation can be difficult if it becomes a do it yourself project, as knowledge of circuits and experience with power tools are needed. Some communities actually have ordinances that make it difficult to install these systems. Check your local laws, especially if you live within an association.
Cost is the largest con to installing a solar power system. They require a substantial initial investment, which might not be recouped for many years. Some estimates show that the cost to purchase solar panels can cost close to 3 dollars per watt. When considering the fact that common households burn several kilowatt-hours per day, panels with many watts need to be purchased. This does not include the cost of mounting products, wiring, batteries, an inverter, and installation with its associated costs. It is not uncommon for most homes to require a $20,000 to $30,000 initial investment.
When determining if solar power is worth it for you, weigh the pros and cons. Don't forget to look at cost, as this will most likely be the deciding factor in your decision. If you plan on living in your home for the next 30+ years, and if you have extra money at your disposal, it might make sense. But don't expect your solar addition to raise the value of your home much, so if you are not planning on staying in your home for the long haul, it might not make sense to pursue this project.
Hopefully this information will give you a good idea whether or not it is worth it to pursue solar panel installation on your home.
Lets take one example of renewable or 'green' energy and look at the associated costs to weigh out pros and cons for having such systems installed. Solar power is a renewable energy source that utilizes solar panels covered in photovoltaic cells, which harvest sunlight and convert it into electricity, which can then be used to run household appliances. The energy harvested can supplement or even completely pay for monthly energy bills.
The idea is that during the peak hours of sunlight, the extra energy harvested would charge a battery bank, which would provide energy during the night or on cloud covered days. The advantages of solar energy can also include that fact that during a power outage, the system would continue to provide a home with essential day to day electricity use, as well as not adding to emissions and other waste products.
Solar power for homes systems have their drawbacks, however. Installation can be difficult if it becomes a do it yourself project, as knowledge of circuits and experience with power tools are needed. Some communities actually have ordinances that make it difficult to install these systems. Check your local laws, especially if you live within an association.
Cost is the largest con to installing a solar power system. They require a substantial initial investment, which might not be recouped for many years. Some estimates show that the cost to purchase solar panels can cost close to 3 dollars per watt. When considering the fact that common households burn several kilowatt-hours per day, panels with many watts need to be purchased. This does not include the cost of mounting products, wiring, batteries, an inverter, and installation with its associated costs. It is not uncommon for most homes to require a $20,000 to $30,000 initial investment.
When determining if solar power is worth it for you, weigh the pros and cons. Don't forget to look at cost, as this will most likely be the deciding factor in your decision. If you plan on living in your home for the next 30+ years, and if you have extra money at your disposal, it might make sense. But don't expect your solar addition to raise the value of your home much, so if you are not planning on staying in your home for the long haul, it might not make sense to pursue this project.
Hopefully this information will give you a good idea whether or not it is worth it to pursue solar panel installation on your home.
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