Home solar panels have been around for decades now and the majority of household owners know at least something about the benefits they provide. The usual dilemma is whether the investment is going to pay back in due time and if the panels available are suitable for a particular home. However, one thing certain, they have been significantly improved over the years and are being more and more used wherever the climate is suitable. Let’s try and answer the question whether they are a worthy investment for your home, as well.
Is now the right moment?
One might say that when home improvement investments are concerned, any time is the right time. When solar panels are in question, there are several reasons why this could be the right time to take them into a serious consideration.
The most encompassing one certainly is that energy efficiency is among 10 biggest global challenges of today.The second one would be the advancements made in the quality and durability of solar panels available today. The third one would be the profitability of the investment, which will be discussed later on.
The cost of the initial investment
The initial investment can vary from affordable to moderate and substantial , depending on the size of the house and the budget of the owner. However, there are several ways to mitigate them.
First of all, the prices of solar panels show a steadily decreasing in the last couple of years. Still, it is hard to predict whether the trend will continue. On the other hand, subsidies, grants and rebates that are currently offered by the government for buying solar panels make the initial investment significantly more affordable and this is the opportunity that deserves to be well studied. On top of that, there are various leasing programs that allow solar panels to be rented before purchased, which is more suitable for some households.
The location concerns
The location plays an important role in the overall savings the solar panels provide. Naturally, the sunnier the location, the more profitable solar panels will turn out to be. For example, having solar panels in Sydney is a matter of common sense since the investment will pay off very quickly due to a large number of sunny days a year this city has.
On the other hand, people living in the areas that have a moderate number of sunny days per year will also profit from using solar panels; it will just take more time for the investment to fully return.
How much savings will solar panels bring?
Again, this depends on the location and the scope of the initial investment, that is, how big your monthly electric bills are. The best examples show that solar panels can completely replace the use of electric energy when used with solar batteries that cover the night use of energy.
Related: How Much will Solar Panels Save you?
On the other hand, an average time needed to completely return the investment is between 5 to 10 years, again depending on the size of the initial investment and an average monthly electric bill.
Where to put solar panels?
This depends on the roof position. If it faces south (southeast and southwest included) and you pay around 13cents per kW for electricity, solar panels are a safe investment and you should opt for roof mounted ones. On the other hand, if your roof is facing north and is more than 20% shaded during daylight, a ground mounted south facing system would be a significantly better option.
Hopefully, all this data will resolve the initial dilemma and provide a positive answer to the additional questions raised. If so, there is no better time for solar panel investment than now.