Renewable energy is the fastest developing energy source in the world and that includes the US. That’s an impressive fact and reflects a global understanding that fossil fuels and other energy sources are finite and harm the environment.
Renewable energy is self-replenishing, carbon-neutral, and good for the environment.
Perhaps that’s why you’re considering solar panels because you want to have a green home and do your bit in preventing climate change. Those are excellent moral drivers, but besides that mother nature will repay you by reducing your overall energy consumption costs.
In this article, you’ll get to figure out if solar panels are right for your home.
Consider Initial Costs
One of the major factors that you’ll need to consider is whether you’re prepared to pay the initial investment cost for solar panels. If you can afford the upfront cost then you stand to gain a lot in potential electricity bill savings. Some estimates are as high as $50,000 dollars over the lifetime of the panels.
In some states, there are tax relief schemes that will enable a discount of around 25 percent of the initial cost. However, if you buy on credit then you’ll need to factor in the interest incurred and how this will reduce your overall savings.
Another big consideration as to whether this option is right for your home or not is the trend in energy prices.
As a general rule, everything gets more expensive over time. That has been the trend in the energy industry. So solar panels stand to increase your savings over time.
Types of Solar Panels
If the standard type of solar panel is too expensive for your budget don’t be quick to dismiss the idea of a sustainable home. There are lots of different types of solar technology that could still benefit your home.
For example, there are thermal systems that can be used to heat your pool and give you a sustainable pool, or even better, heat the water in your house. These systems may not be as efficient as traditional solar panels but they still capture free energy from the sun and offset your existing electricity bills.
You are wise to investigate your options with a solar installation company. They will be able to advise you which systems match your budget while also helping you benefit from any federal schemes to promote green energy. It seems that green energy is the future, and getting your own solar panels is one way of getting ahead of the curve.
In this article, you’ve read about whether solar panels will work for you and your home. Questions about the economics relate to whether you have the capital to spend or not. If not, there are still opportunities to benefit but they diminish as you take on more credit.
Renewable solar energy is more than solar panels. There are other hybrid systems that you can benefit from, so it’s a good idea to get some expert advice from a provider in the industry.
Cast your eye over other informative articles on our site that promote a better understanding of our world.