16 Jul How Effective Are Residential Solar Panels?
In just the past two decades, the use of solar panels for residential use for residential properties has grown exponentially. Both commercial settings and private residences are relying on the traditional grid less and less and turning towards clean, renewable energy. However, many people still question how effective residential solar panels are. They don’t fully know just how affordable they are in the long run. While switching to solar is definitely beneficial for the environment, it can also be beneficial to you. Here’s how.
Residential Solar Is an Affordable Investment
The cost of installing residential solar panels has gotten more and more affordable in recent years. The product has gone from a niche commodity to a common home upgrade. Many view solar panel installations as an investment in a home that can pay back dividends.
Whether you plan on living in the same home for the next 25 years or plan on selling, investing in solar is a smart decision. As a home upgrade, solar panels make your home more valuable and often makes the selling process go by much more quickly as buyers are hungry to have a property with solar energy built in.
Solar panels, especially in sunny states like Nevada and Arizona, often capture and hold more than enough energy to power 100% of a household’s power needs. Many solar panels are connected to the power grid, which makes them eligible to net-metering. When a household with solar panels produces more energy than it needs, they essentially sell their excess energy back to the power company.
This means that you can essentially eliminate your power bill by switching to solar and even earn credits towards any future energy bills you may have. So, during darker seasons with less sunlight, such as in winter, many homes with solar panels will still not have a traditional power bill to deal. Net-metered households can use those credits earned over summer with net metering to pay for any extra energy you may need during the time of the year that solar panels cannot provide 100% of a household’s power.
When Do You Break Even?
For many homeowners, calculating the point at which they “break-even” is crucial. They are investing in something up front that will presumably pay for itself through saved electricity costs. The “break-even” point varies from state to state due to environmental variables; however, the average amount of time it takes for homeowners to make their investment back in the U.S. is about 7.5 years.
Such a short payback period makes solar panels a popular investment. Few other investments pay off in such a short amount of time. Explore more of the benefits of switching to residential solar panels in Las Vegas.