Published on January 27th, 2021 | by Sunit Nandi0
Why You Should Invest in Solar Panels
There are several benefits to using solar energy. Top among these include saving money and protecting the environment. Most people understand that solar energy is efficient and can help them reduce their carbon footprint. What people may not realize is that solar power kits can drastically improve the value of your property.
Whether you are considering solar panels for money savings or their environmental impact, there are several benefits that come from installing solar panels. These benefits are making solar panels extremely popular around the world.
What Are Solar Panels?
Solar panels convert light from the sun into energy. Light from the sun is composed primarily of photons. These photons can power electrical loads.
Solar panels have been in development for more than a century. Edmond Becquerel discovered the photovoltaic effect that made it possible to convert sunlight into energy. In 1893, the first solar cell was created.
A solar panel gathers clean energy from the sun and turns that into electricity. Each solar panel has several solar cells. These are made up of layers of phosphorus, which creates a negative charge, silicone, and boron, which gives the electric charge.
When solar panels capture energy from the sun, they initiate electric currents. The energy created when photons hit the surface of solar panels causes electrons to be jolted from their atomic orbit and allow them to go free into the electronic field created by solar cells. These free electrons are then pulled into a directional current. This is the photovoltaic effect.
Most homes have a large enough space on their roof for the solar panels needed to supply energy to run the home. Energy is produced during the day. The excess stored during the day is used at night.
Why Should You Invest in Solar Panels?
Solar panels offer an amazing return on investment. According to Unbound Solar, “Installing solar panels by yourself can be a cost-effective and rewarding experience; you can save a significant amount of money by cutting contractors out of the equation and take pride in your own handiwork.” Most solar panels will function for between 25 and 35 years. This means the initial investment, which is typically paid off within the first seven years, continues to produce benefits in the form of cost savings.
In fact, when you look at the cost savings of solar panels over 35 years, you will see that the return on the initial investment rivals that of traditional investments, like bonds and stocks. Most homeowners will see an annual return on investment of 20 percent or more on their solar panels.
Cost and Savings of Solar Panels
Most of the expense for solar panels is purchasing the panels and doing the install. After that, solar panel systems do not require a lot of maintenance.
An average home, a 5kW system is more than enough to power the home and produces energy to spare. You should expect to pay between three and five dollars per watt. The average home install, before any tax breaks or credits, will cost around $15,000-$25,000.
However, within eight years of the install, most homeowners save enough on their energy costs to have fully paid for the system. Now, for the next two decades or more, they will receive free electricity. Clearly, investing in solar panels is more than worth it.