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Last updated: 26 July 2017

Solar Panels: An Investment for The Future

Learn why solar panels are a smart choice.

Why Not Try With a Solar-Powered Home?

Growing concerns among environmentalists about the diminishment of natural resources paired with increasing high costs in monthly utilities for households have caused a shift in public opinion towards the use of alternative energy. One of the most talked-about issues in this area are solar-powered homes, or, in other words, producing your own electricity by installing solar panels.

While you may have heard frequent talks about the advantages of solar energy usage, a research about solar panels may leave a prospective user tangled in a plethora of complicated technical terms, installation options and financial plans. Thus, it may be difficult to understand if they are, indeed, the right choice for your home. Let us try to shed some light on the subject.

First of all, solar panels are of two types: solar hot water panels, used for heating, and solar photovoltaics (PV), used as electricity systems. These are the ones we are going to focus on.

How Do Solar PV Work?

It is actually very simple: solar panels are composed of photovoltaic cells, which harness sun energy even on a cloudy day and are able to convert it in electricity using an inverter. The basic concept is, admittedly, a reliable “green “solution compared to traditional options.

How Much do They Cost?

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Thanks to the latest technical innovations and to large scale production of solar panels, solar power usage is rapidly becoming mainstream. The cost varies according to type, efficiency and the area you live in due to installation and permit prices, though the equipment has a fairly standard price globally.

There is a positive outlook regarding costs, as prices have dropped 60% since 2011 and are expected to decline even more with China as a low cost producer. The average domestic solar PV system is 4kWp and costs between £5,000 and £8,000 (including VAT) in the UK and is estimated at about $17,000 in the US, with the added bonus that solar panels are generally low-maintenance.

Is The Investment Worth It?

The Energy Saving Trust estimates a 4kWp system can generate around 3,800 kilowatt hours of electricity a year in the south of England, the equivalent of the average household needs. Studies in the US show that an average homeowner can save up to $20,000 in 20 years, the amount reaching up to $60,000 in Hawaii. It seems that solar power is surpassing expectations, with Asian markets expected to boom in the near future and with Japan having already taken the lead, according to Reuters.

“A typical home solar PV system could save over a tonne of carbon dioxide per year-that's more than 30 tonnes over its lifetime”, according to the Energy Saving Trust. It is no wonder that governments are offering tax incentives and encouraging attractive financial plans for those who opt for solar panels.

All in all, solar panels are a reliable, cost-effective, low-maintenance option to generate electricity. You can, at the same time, save on your utility bills and cut back on your carbon footprint. Without any doubts, it is choice that welcomes a better future.

Read More: Make Your Home Your Solar Powered Castle