The cost of electricity seems to be rising all over the world at an alarming rate. This is bound to happen since the dependency on electricity to make your lives simple and easy has increased manifolds. If take a closer look at your own home, you will find multiple appliances that run on electricity. As a result of this, installation of solar panels has gone up in most parts of the world.
Most of you may wonder about the cost of installing solar panels and whether it will actually help save your money in the long run or not. All of this is entirely dependent upon a few primary factors. If you take an average, the cost of installing solar panels can range from $15000 to $25000. This data is as per www.greensparkelectrical.com.au.
The next question that may be haunting most of you is whether solar power will actually help you save your hard earned money in the long run. Here are some steps that can help you determine the right answer to this question.
- Do A Quick Review Of Your Monthly Electric Bill: It is needless to say that solar panels generate their very own power and thus, will certainly not be in a position to offset your monthly power bill, if not get rid of it completely. It is generally seen that the higher the bill, the more will be the possibility of you switching to solar power. It is important to note here that electricity usage and electricity rates are highly volatile in nature. These also happen to be the 2 primary charges in the power bill.
- Find out An Estimate about Residential Solar Panel Cost: It is a known fact that the major part of the cost of solar panels goes in the installation of these panels and also their purchase. However, it is also true that most of the solar panels do not require any maintenance and come with a life span of 20 years or even more. All of this with marginal change to the total amount of electricity that is produced by the solar panels. When you sit and calculate the total cost, make sure to make a note of the total energy that you consume on a daily basis. This information will be there on your power bill. This will also give you an idea about the size of the solar system that will be needed to generate same amount of electricity. You can get some help in this regard by using the Solar-Estimate calculator.
- Find out Your Sunlight Exposure: It is quite simple to understand that the higher the exposure to the sun, the more will be the production of electricity and more chances of saving your money. There are several parts in the US, such as California and Arizona that have more average sunlight hours every day. The orientation of your home towards the sun is also important along with the amount of shade the type of roof you have.