Are Solar Panels Worth the Ongoing Hype?
What is solar energy, and is it worth incorporating into your own home? Solar energy uses light and heat from the sun to produce energy. Solar panels are the objects that directly absorb the sun’s rays as energy, which generates electricity and heating. The up-front cost of installing solar panels often raises the question if they are worth it in the long run.
There are several factors that contribute to the productivity of solar panels, including sun exposure and site conditions. These will affect the production of electricity. In regards to long-term savings, a residential electricity bill will average around $63 monthly, or over $750 per year.
Solar panels cost around $10,000 to $15,000 making it a hefty investment. This means it would require 13 to 23 years to break even with the initial cost. However, it’s common to be rewarded for producing clean energy with a Solar Renewable Energy Certificate from various states. Plus, solar panels can last twice as long or longer than the payback period.
To read more about solar panels and their effect on the environment, read this blog!