Are Solar Panels Cost Effective?

Today, more and more individuals are searching for ways to lower their cost of supplying electrical power into their homes. One way that they are able to do this is to restrict the use of electrical devices in their residences.

But many people will readily agree that this is a bit challenging. As a result people have been looking at other alternatives that can help them save some of the money that they are spending on electrical power.

Of the many choices regarding natural energy sources including, wind power, biomass, hydroelectric and geothermal – to name a few; one feasible option that has always been popular is the use of solar energy to generate power to homes.

Solar panels use the sun’s rays to generate useful electricity. This source of sustainable and cost effective energy is sufficient to power up one’s residence, farming systems and even some cars. There are lots of benefits that can be derived from this readily available renewable source of energy.

For instance, if you use solar energy to power the electric devices in your home, you will certainly not encounter the high monthly costs for powering your home. Using conventional systems like wood fire, fossil fuels etc to heat and power residences are already pretty expensive at the moment.

So just how efficient are solar panels? read on for more info..

Solar Power Efficiency:

Because solar energy is free after your set it up, you could run your heating or cooling systems without incurring any costs at all. Apart from the initial set up cost element, which is dependent on a number of issues; many people are readily opting for solar power, since it is a clean source of energy.

Solar power does not produce any greenhouse gases, which is a big concern right now as people become more aware of their own carbon footprint and the fact that we are damaging the atmosphere with our over-use of fossil fuels. These are some of the reasons why solar panels are increasingly preferred by many people.

But how efficient are solar panels, many people are wondering? Can they power a whole house, during the day when the sun is out there, shining? Does the cost make sense in the long run? These are some of the questions that many people ask when they visit shops that are selling solar power technologies.

To try and respond to some of these questions, it is critical to understand what a kilowatt hour is. A kilowatt hour, of abbreviated as kWh, is the volume of power that is consumed by a house every month.

A month of 31 days, has seven hundred and forty-four hours. If we say that every hour of power originating from the grid is twenty cents, then each month an average household consumes about $ 148 dollars in terms of power. This can of course differ from household to household, season to season or month to month.

Costs Incurred by Solar Panel Energy:

According to several experts, the price tag for a professionally set up solar panel is around $ 7 to $ 9 per watt produced. This means that to produce 4 kilowatts, the cost will be between $28,000 to $36,000. Now the question is what volume of electrical energy can you get from a 4 kW solar panel?

The response to this question is rather complicated as it depends on how long the sun shines on your panels. Seasons and cloud cover will affect how much sunlight gets to your panels. The angle that your panels are facing will also dictate how many hours they are exposed to sunlight.

So calculating how efficient one’s solar panels will be is complex. One way of going around this huddle is to use the many online solar energy calculators all trying to help people make the right choices.

Generally it can take up to twenty years or more for one to break even. This is the single most factor that is making many people think twice about this renewable energy source. But there is hope; through tax breaks and federal government subsidies that are trying to lower the break even period to around 15 years.

The Future of Solar Power:

Solar energy suppliers supplies are also doing all they can to make solar panels sell. They are looking for better, cheaper, and more efficient solar panels by the day. They are also helping home owners choose the most suitable solar panels for their homes as every home has unique needs.

Apart from that, they are also trying to make solar panels that last more than 25 years, which is the average time that the typical solar panel lasts. During this time frame, however, home owners have guarantee cover, so they don’t have to worry about repairs during this period.

The question of just how efficient are solar panels I’m afraid is not easy to answer, as each installation has to be considered on its own merits.