It's no point debating on whether you can save money with solar panels. In fact, asking the question is like asking "do I need oxygen to live". The obvious answer to the question is yes. As confident as you are to say "yes" to the oxygen question, so should you be with the solar panel question. To help you, let me answer the question for you.You can save money with solar panels . What you should consider is how much money you will be able to save using solar panels.
We will be providing you with answers to the question of how much you can save using solar panels.
You can check out: How do solar panels work?
Each home usage of energy differs and so is the energy cost. As a result, it is difficult to state exactly the amount of money you can save with solar panels . To determine how much you can save with solar panels, consider the following factors:
The above-listed factors will help you determine how much you can save with solar panels. Let's look at each of these factors more closely.
To determine how much you can save with solar panels, first review your annual current spending on electricity .
Solar panels offers the following benefits to your bills on electricity:
The amount you will be saving using solar varies depending on the following:
The table below is a forecasted figure of solar panel's savings by a homeowner in America having a 6kW system.
6 kW SOLAR SYSTEM ANNUAL PRODUCTION
AVERAGE COST OF ELECTRICITY $/kWh
1 MONTH SAVING
25 YEAR SAVINGS
Size of solar system: 6 kW
Demand: 10,400 kWh annually
Rate of utility inflation: 3% per annum
Solar system is owned by the homeowner
In recent years, the price of solar panels has been declining significantly .
The amount of money you will save based on the estimated installation cost of solar depends on:
You can read: You can calculate your area efficiency of panels by using a solar estimate calculator
If you reside in a home with lots of exposure to sunlight, you can save money with the use of solar.
The amount you will be saving based on your home's exposure to sunlight depends on:
You can check out: Is My Home Right for Solar
Solar panels are an alternative source of energy.
Besides this tax credit, you may still get some extra incentives and rebates from your state. This extra incentives and rebates for the installation of solar in your home may be in the form of:
ii. Waived fees
iii. Expedited permits
iv. Property tax exemption
The amount of money you can save based on incentives depends on:
You can consider: Look through the database of your states incentives for renewables and efficiency here
Changes in trade policy have an impact on prices .
How much you save on solar panel in relation to the government's trade policy depends on the following:
You can read: EnergySavers: Tips on Saving Money & Energy at Home
The effects of weather conditions on solar panels
If you are having concerns about the effect of weather on the effectiveness of your solar panel.
Here is a list of different weather conditions and their effect on solar panels.
An obstruction to the rays from sunlight will affect the efficiency of solar panels. And different clouds, like fog, smog, and mist, are among them. All these mentions at noonday can only cut 30% of the solar panel efficiency. So it is not something to worry about. You can still enjoy the 70% delivery of your solar panel at such a time as this.
Solar panel components have make-up that can withstand such a weather event as rain. In fact, the rain serves the purpose of helping you wash any dirt or particles on your panel surface. So, you don't need to worry about the effect of rain on the efficiency of your solar panel.
With this kind of weather event, it will only result in accumulations of dirt to form layers on your panel. This will block or limit the rays from penetrating through your panel. You can wipe them away. And this kind of weather event hardly occurs.
Fears of heavy winds ripping off solar panels are often the concern of some users. With high-quality solar panels that are well fitted, they can withstand winds of 80 MPH or a bit higher. Make sure that when getting your solar panel, you go for the best companies who are up to the task.
Electronic gadgets are prone to voltage surge. And with lightning, a solar panel is not an exception. But you can avert this. Your installer should ensure that your panel is well structured against surges. Also, you can get a lightning protector and attach it to your solar set up.
Snow can form a layer on your panel. And it can block the rays of light from penetrating through your panel. Though snow will melt once the sunlight shines. And in case you have snow blocking your panel, you can sweep them away.
Solar panels can serve as protection for your roof. And there are solar panels that can withstand hail with a velocity of 250 MPH or more. So, you don't need to worry.
All the factors discussed above must be considered before you can know how much a solar panel will save for you. Going solar has lots of benefits.
Before deciding to go solar, ensure the factors above are favorable to you.
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