Does It Make Sense To Invest In Solar?
Solar power has only been a viable option for residential and small business purposes since around the turn of the Millenium. Since then the prices of solar panels and secondary equipment have dramatically lowered – while they have also substantially improved in regards to performance, durability, and longevity. A modern solar energy system is very different from one that may have led the market just a decade or so ago and the vast majority of people are surprised at how efficient professionally installed equipment can be.
As we shall discuss in this article the underlying principle of effectively using solar energy is to maximize the return on the initial startup investment. The best solar companies will be able to roughly and realistically estimate this on a case by case basis.
Basic Costs & Appraisal
How much you choose to invest in your solar power system is going to play a substantial role towards its overall long term efficiency. Generally speaking, independent/private contractors offer superior quality components and panels and charge substantially less for labor than corporate interests. You could quite realistically slash your startup costs by 20-30% by simply choosing one of these ahead of a national company.
The equipment will be the most substantial outlay – and remember that you’ll need panels, transformers, and perhaps batteries if they are suitable for your project and budget. A good quality solar installation company will sit down and discuss these costs in detail and be able to draw on practical, hands-on experience to help establish where the best value lies for each project. Remember that Federal incentives are still in place that can substantially reduce one-off, first-time solar energy installation costs!
The good news is that once installed solar energy systems very rarely require any expensive maintenance or upkeep. Modern panels are incredibly reliable (less than 1% failure rate) and should last for at least 20-25 years or longer. Most of the time a simple occasional wash/light hose down is all that is needed to keep them running at optimal capacity. Batteries may need replacing after 7-10 years but again that depends on the system.
Arguably the best aspect of determining whether solar energy is suitable for your home/business is the fact that the costs are very transparent and upfront. Solar energy systems don’t tend to be supplied with hidden costs or break down in a manner that requires expensive replacement or repair.
Solar Power Does Pay Back
Once you have selected a suitable solar power system then you’ll want to make sure that it is running at maximum capacity and total efficiency. As stated previously, a good company will survey your land and make sure that your panels are positioned in optimal places to generate the highest possible yield. If remedial action (roof repairs/strengthening/
A well designed solar power system should hit that ROI level – and we’re talking very generally here – somewhere around 50-60% into the system’s lifespan. It is difficult to estimate this precisely as there are many factors that influence how long panels will remain effective – but with most manufacturers offering 20-year end-user guarantees you can probably figure that out for yourself! Depending on the type and size of the system you have chosen, that means that you’ll enjoy very substantial savings on your grid electricity costs for many years. Remember that solar power provides a degree of protection against rising grid costs (and they will eventually rise in Idaho) and almost always adds serious dollar value to your property should you sell.
Going solar is an ideal option for the overwhelming majority of residential, commercial, and agricultural users. Sure – the start-up costs do present some degree of a hurdle. There are various ways of financing these, and those Federal incentives are due to expire in the relatively near future, so if you are interested in saving money with solar power then now is the time to act. Do not underestimate the significant benefit that choosing the right company can offer. High-quality private contractors are not tied to sell/install specific brands and will look for the ideal solutions that match your needs and startup budget. The best will provide not just an extensive property survey but draw up a series of options that sho