Are Solar-Powered Homes Worth It?
The benefits of solar energy are undeniable, and that’s why many homeowners across the country have made the switch to solar power. As a result, they have been rewarded with lower utility bills, increased home value, and peace of mind. But is it worth it to invest in a solar-powered home? In this blog post, we’ll discuss some benefits of going solar and if you should do the same.
How to Know If Solar Panels Are Worth the Investment
Knowing if solar-powered homes are worth the investment or not is crucial before you plan to go green. Therefore, it’s best to do your research before buying solar panels. Below we have shared a few questions that will determine whether you should invest in solar energy or not.
Determine Your Electricity Bill
One reason for switching to solar energy is that you don’t have to pay electricity bills anymore. The energy you produce through your solar panels is only yours, and you can use it for powering your house. Therefore, before you invest in solar panels, calculate your yearly electricity bill and determine if the investment in solar panels will recover in a year or not. If it takes more than two years to recover your investment in solar energy, you should probably make the switch.
The Cost of Solar Panels
The cost of solar panels has decreased significantly in recent years, but it’s still higher than the average electricity bill. To figure out whether you should make a switch or not, you need to calculate your yearly energy consumption and compare that with how much money is being save don monthly electric bills.
Use the values you’d derive from the previous steps to calculate the cost of solar panels. If you are calculating for a 1,000-wattsystem that will produce an average energy consumption of 500 kWh per year, your investment is about $24,000 (based on an average conversion rate of14¢/kWh).
Benefits of Solar Energy
Besides the existing benefits of using solar panels, solar-powered homes are also safer. Besides being environmentally friendly, solar homes are also lighter on your wallet in the long run. You can save up to$500 on your electricity bill every year by going solar.
Since solar energy is in abundance, it’s a renewable source of power supply for homes and businesses that don’t depend on fossil fuels or other finite resources.
Whether solar homes are worth the investment or not depends on your budget. However, there is no arguing over the fact that this form of energy is renewable, in-abundance, environment friendly, and cost-effective in the long run. So, if you have the means to implement a solar system in your home, you should go green this summer!