We have always heard all sorts of speculation about solar panels. Some believe it’s a sure way of saving money while many defer. But you must wonder what’s the reality? And are solar panels worth it? Getting one can be a smart ad long-term investment for your home, but besides that, there are various factors that you need to keep in mind before getting one.
As the cost of electricity from traditional sources increasing continuously, many seem to show interest in installing a solar. Before you take any action, get to know about how your electric bill, location, and other elements impact your budget. Here are going to give you a proper insight about it and clear up all the confusions you have.
How Much Does A Solar Panel System Cost?
Are solar panels worth it? In order to determine that, you have to consider the costs first. In the case of normal products, we are more tempted towards cheaper products. Contrary to that, Solar panels may cost you a lot in starting, but in the long run, it would turn out to be very beneficial for you.
In order to calculate the cost of solar panels, it is essential to know how many panels you would be needing to cover up the electricity of your whole house. On average, the cost of installation and the system might be somewhere around $15,000 and $25,000, according to the Center for Sustainable Energy.
How Much Do You Pay For Electricity?
Getting a solar panel implies that you’re basically replacing your utility provide by installing a miniature power plant. Those people who hold a strong usage of electricity tend to benefits from a solar panel. To find whether solar is worth it or not, you should calculate your electricity rates in accordance with potential savings.
That is plenty of solar calculators that you could easily find on the internet through which you can save up.
There is no rocket since in using the calculator! Simply insert your address, property type, and an average of your monthly power bill. Once you find out how much you would be saving, it would become evident to you that you really need a solar or not.
Are Solar Panels Worth It In All Types Of Climates?
There is a very common misleading perceptional that to have a solar panel you need to live in a place where the weather conditions are warm. This point of view is only true to the point that you will produce less energy when the weather is cloudy. Besides that, people living in areas where the sun comes out for a little time can also benefit from it.
Do Solar Panels Increase Property Value?
According to research, houses with solar energy systems actually are sold above the actual price rates. In every part of the US, switching over to solar could easily increase your property value. Besides all the factors, this reason is strong enough that proves the point that solar panels are worth it indeed. However, it is pertinent to mention that property value will only increase if you actually own the solar, and it’s not on the lease.
How Long Do Solar Panels Last?
Most of the time, solar panel warranties ensure that your solar panels will function properly for 25 years at least. Though as the solar gets old, it’s solar power reduces. Normally in the warranty, they guarantee that they will produce over 80% power output by the end of 25 years.