Published On: Wed, Dec 9th, 2015
Uncategorized | By Desk of Editor

Studies Show Solar Panels Actually Make Money

Our world’s leaders are currently in the middle of climate talks in Paris, France. It’s the biggest congregation of decision makers of the 21st century, and they’re discussing one thing. Climate change. Global warming, climate change, and renewable energy has been on the agenda for over a decade. We’re all slowly coming to terms with the damage we’ve inflicted on the planet. Although there are plenty of alternative energy sources out there, the implementation has been slow.

solar panels

Whether it’s solar panels, wind turbines, or hydro-power, businesses and governments have been reluctant to use them. Why? Because until now, they simply weren’t efficient. These alternative energies couldn’t match the effectiveness of traditional fossil fuel techniques. However, we’re finally at a tipping point where this alternative energy is a viable, efficient alternative. In this report, we’re looking specifically at solar panels which have taken an important turn. No longer do they simply save us money, they’re making us money.

In the past solar power was nothing more than a good idea. Initial versions however, could only translate around 14% of their power into usable energy. They were expensive to install, and rarely converted enough energy to prove useful. As the years have gone on, significant improvements have been made behind the scenes. In most cases, we can thank the increased efficiency in the components. Materials like litz wire improve the efficiency of solar panels because they help capture energy. In essence, it reduces energy loss.

Solar panels are now being used up and down the country as an alternative energy source. Both major corporations and personal homeowners are turning to the technology. For homeowners, the cost of installation is roughly $10,000. Now, that may seem expensive. However, it’s little more than the cost of installing a traditional system. That’s why so many new homes are now being fitted with solar panels. As for retrospective installations, $10,000 admittedly is a big investment.

But that’s where the savings figures come in. Experts suggest that solar panels will save the average homeowner around $1000 a year. That’s because you will now pay no utility bills for electricity, gas, or heating. Not only that, but modern solar panels also store excess energy. That means you can sell the extra energy back to the grid. Take into account these figures, and experts suggest you’ll make a $5,000 profit after ten years. Solar panels are long-term investment, but they’re well worth their money.

The future looks very bright for solar power. As the world’s leaders make a conscious decision to take action, we will start to see a big shift. Big businesses and corporations will be forced to make cuts. That will make renewable energy and its entire industry more affordable. At the same time, technology will improve rapidly. Solar power will simply become more efficient, and cheaper at the same time.

It’s a good time to start investing in renewable energy. It won’t just save you money, it will actively make you money in the future. Could your home benefit from solar panel installation?