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Do solar panels save money?

Last updated on June 14, 2022

Solar energy is clean and renewable. The Sun can provide more power than the consumption of the entire world, provided we are ready to use it consciously, and we have the right infrastructure.

So is it possible to go green? The simple answer is yes!

In 2011, Facebook announced plans to make their data centers 100% renewable. Apple, Amazon and Google have already started generating substantial amounts of clean energy to power their infrastructure.

These investment steps from mega companies, as well as from thousands of other corporations, is a very positive step towards promoting renewable energy and offsetting fossil fuels.

Not only will these moves save money, but they will also contribute to making the world green. According to vast research from trusted institutions and research centers, the most dangerous risk to humans is the risk of climate catastrophe.

However, instead of becoming anxious and worried, it’s better to be practical. One major problem that can be targeted and resolved is reducing or eliminating the huge electricity bills that have been steadily increasing over the years.

A solar panel system that is properly planned and installed can bring about massive savings, not only to the environment but more personally to your money expenditure and your finances.

The development of a solar energy system within your household constitutes a new and interesting lifestyle and is a great value addition to your way of living.

Below are a few facts that highlight how much you can actually save with solar panels:

  • The cost of utility energy isn’t going down.
  • The cost of installing solar panels has decreased with advancing technological innovation.
  • Installing solar panels offers long-term financial benefits.
  • Reduce your monthly electricity bill’s energy prices to save money on your pension.
  • Solar panels are long-lasting and require low-maintenance.

All these facts make solar energy a very practical and financially sound solution.

To understand how much money solar panels can help you save on your power bills, you must first determine how much electricity you use per year.

The average yearly electric bill in a US household, for instance, is 11,000 kilowatt-hours (kWh). Multiplying that by the national average energy rate ($0.1301), gives an average of $1,431.1 per year.

If you’re in Australia, you would be happy to know that most homeowners could potentially save at least $20,000 on their energy costs during the life of their solar panels, which is a substantial sum of money.

These figures make solar investments a very exciting project, and highlight the potential savings expected. Moreover, solar panels can add and raise the value of your property in the future.

Several organisations, tech corporations like Google, Amazon, Apple and Microsoft, automobile manufacturers like Tesla and Toyota, big oil consumers and even oil companies themselves have already invested billions of dollars into green energy alternatives.

All this goes to show and further prove that renewable investments, and solar in particular, is already studied strategically and has benefits to the balance sheets and overall profit of these companies.

Besides, I like another astonishing fact the most about renewable energy, especially solar.

Another great feature of solar panels is the independence and control they give to the user in interacting and dealing with energy. The choices the user makes in terms of system size, capacity and operation, all reflect on his/her capability to use and modify the use of energy within the house. Also, a solar installation is flexible and allows further investment at a later stage to expand the capacity and benefit from more energy as needed.

Below are a few technical questions that come to mind in relation to solar energy, along with brief explanations for each.

Are solar panels efficient?

Solar panels can convert up to 22% of the incoming sun energy into electricity.

Solar cells are the building blocks of a solar panel. A cell is a tiny disc of silicon or another semiconductor, which we connect by wires to a circuit.

When light strikes a semiconductor, it generates electricity, which flows through the circuit. The solar cell ceases producing power as soon as we turn the light off.

Is it safe to use solar panels on your rooftop?

A solar panel’s operation is entirely safe, producing no dangerous or toxic fumes, gases, or waste. The roof needs to be studied to hold the weight of the solar installation, panels and overall frame to support the system, but otherwise, a solar panel system installed on the roof has no effect. The household solar energy system’s only by-product is low-cost, clean electricity.

How much do solar panels save you?

Over the lifetime of a solar panel installation, the average home can save between $10,000 and $30,000.

These savings are the result of a progressive increase in the cost of traditional forms of energy, regardless of your location, with skyrocketing worldwide prices and increased demand. 

All this hassle, cost and dependence can be eliminated by investing in solar energy. It is simply a one time investment, that guarantees a long term return, and the more you invest, the better you optimize energy, and the more money you save.

E-Green Electrical

E-Green Electrical are the pioneers in energy efficiency. We specialise in helping our customers reduce their carbon footprint and impact on the environment while saving money.

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