Installing residential solar panels will help you to do two good deeds at the same time – saving money while doing something good for the environment.
While 2 million Aussies have already made the switch to this renewable source of energy, there are some who still think that it is not a worthwhile investment.
Let us help you make the correct choice. However, depending on where you live, what your utility provider charges for electricity, and how much power your particular home needs, the economics of solar can greatly vary.
Different types of residential solar panels for your rooftop
Solar panels are generally installed on your rooftops. They capture the energy coming from the sun and convert it into the alternative current from the direct current.
They are strategically placed in a way that they are able to capture maximum rays coming out from the sun.
There are three different types of residential solar panels based on their ways of generating electricity:
The electrical grid is connected to an on-grid or grid-tied solar system. Net metering enables any power surplus or shortfall to be fed into the grid.
The majority of home users prefer an on-grid solar system since it enables them to save money on their electricity bills and get credit for the surplus power generated by their system.
You will always be able to save money, whether it comes from the grid or your solar system. Batteries are not used to power an on-grid system.
The rooftop solar system is not connected to the grid and functions with the help of batteries. The battery is charged by the electricity produced by the solar panels that are mounted on the rooftop.
Which then powers a number of electrical equipment. When there is no grid and there aren’t many breakdowns, this approach is well-liked.
The hybrid system combines the greatest elements of both worlds. To produce enough power for home and industrial uses, the grid and the battery both cooperate.
This kind of rooftop solar system fully charges the associated battery before feeding the additional power into the grid. Consequently, the owner of the solar rooftop will receive additional cash by using a hybrid solar system.
Are residential solar panels a good investment?
78% of those who don’t have solar panels in their homes claim that doing so would be simply too expensive. However, 81% of those who had them installed said that doing so was primarily done to lower their electricity expenditure.
Are solar panels worthwhile if one party claims they are too expensive to install and another claim they save expenses and provide value?
Including any solar rebates, the upfront cost of rooftop solar is typically between $4,000 and $6,000 per system. The panels would be paid off in ten years even if they only generated savings of $400 to $500 a year.
However, solar panels typically help to save a lot more than that. Therefore, your upfront cost gets covered a lot faster than 10 years.
To determine if solar is worthwhile, you should instead compare the upfront purchase price to the savings you would see on your electricity bill.
Although it may initially appear to be an expensive purchase, there are numerous possibilities for interest-free repayment programmes, so part of the agony can be spared.
You’re normally going to pay back that investment over a relatively short period of three, four, or five years when you consider the savings as well as the initial fees. So, is solar energy worthwhile? Typically, it most certainly is.
How to begin the installation process?
Contrary to popular belief, harnessing the power of the sun is a straightforward process if done with the appropriate instruction and with proper guidance.
You should most definitely avoid the DIY process of installation and should follow the steps mentioned below:
- Evaluate the space available on your roof.
- Calculate how much energy you need in your everyday life.
- Select the type of system you want to install on your roof.
- Calculate how much you can invest in your system.
- Choose a reliable and authentic solar installer.
- Call them for the survey of your site
- Finalize your proposal and make a sustainable choice for the earth.
Installing solar panels not only allows you to significantly reduce your electricity costs, but it also increases your independence and reduces your carbon impact, especially when combined with battery storage.