I really like the idea of being more independent and having my own source of electricity. However, would it be cost-effective to purchase and install solar panels? I imagine that solar panels and installing them will cost a small fortune, but will it pay off in a year or two?
Indeed, solar panels cost a mall fortune, but it`s worthy, in less than two years, you will have your money back, seeing the savings you make. I use them for a house with two floors, kitchen, two bathrooms, four rooms, all of them partially heated during winter by the energy delivered by solar panels. If I stick to hot water consumption, I can tell you my electricity bill decreased with 70%, so I don`t regret the money invested in solar panels
Solar Panels are really a long term investment. How quickly they will show a return depends on what you have them set up to do and the cost of the energy to are replacing. A good set of panels will last over 25 years but if you have to store that energy (not feed it back into the grid), you will need batteries that will only last 5-8 years depending on the quality you buy. Five to ten years is a more realistic time frame for them to pay off. If you are somewhere particularly sunny less time. If you plan on keeping your system independent of the grid, you can actually add to it over time with the correct planning and slowly ween yourself off of the grid. You could have one panel delivering power directly to a space heater for example and that heat wont need to be purchased (though solar for heating wouldn't be my first choice).
At first, solar panels would cost bit higher compared to several months of monthly bills, but in the long run we can have tremendous amount of savings because we no longer have to pay monthly electric bills. I'm longing to have my on solar panel in the near future because the private electric company in my place charges high.
From my understanding, it depends on the property itself. Things like nearby trees and other home issues can affect how this will work. You can conduct your own research by talking to neighbors who have solar panels installed. Five to ten years is more realistic.
Yes!! As Jneaz mentioned, there are definitely other factors that will affect how quickly you "break even" with the upfront cost. It's still worth it overall, no doubt....but some people will find that they become "worth it" within the first 18 months or first two summers, etc. Others may find that it takes 3 summers (which might be 2.5 years) instead.
If you live in a place which is sunny most of the year round [ somewhere near the equator] I think solar panels can save you a helluva lot of money. And to be honest, I wouldn't be too worried about how much they cost because if that means dispensing with paying monthly electricity bills for like 15 years before the need to replace the solar panels I arises, I'd embrace that opportunity.
My husband and I have a dream that we hope to see come true within the next fouor years, we want to live in an RV full-time. I have been interested in using solar power once we are on the road. I think for what we need it for, we should be able to get the solar panels pretty cheap. I will reseach this and get back to you!
Even better than installing your own solar panels is to join a Community Solar Garden (CSG). The way they work is one larger array is installed in a centralized location. Then anybody who is serviced by that utility can be a subscriber to take some of the production from this array. You get your benefits directly on your electric bill as a credit. Advantages: 1) Eliminates shading issues because one perfect location can be chosen instead of each residence or business needing perfect sunshine. 2) Even renters can take part. 3) Economies of scale. One large array can be built for less than many smaller ones. Everyone shares in the savings. 4) No upfront costs or maintenance issues. 5) No ugly panels. Some people just don't like the aesthetics of having solar panels on their roof. With a CSG, you can be a great steward of our environment through the utilization of renewable energy without having to mount the panels on your own home or business. Community Solar Gardens are the way to go. See if your utility has one or is planning one. If not... take the initiative and promote your own!
Winter in my area can be very harsh making the heating bill very high during the winter months. Summer can also be hot or humid which means a dependence on the electric company and a high bill, the use of even partial solar panels would help to reduce the cost of electricity for the home. The idea of having a back up when the storms come thru the area and knocks out the power for days is another reason I would want to have some type of solar system for the home.
Solar panels are very cost-effective, I have solar panels installed in my homes, and I see a significant reduction in my electricity bills, more than 50% of my electricity bill is absolved because of my solar panels, I am currently in the process of getting more solar panels so that I can be free from paying for electricity bills and also that I can start providing electricity to the national electricity company,so that they pay me for electricity instead of me paying them
