It’s common knowledge that our world is becoming increasingly polluted and that energy costs are increasing every year. However, you can do something to keep these things in check – go solar.
As the years go on, investing in solar power is becoming increasingly popular for financial and environmental reasons. That said, is going solar worth it?
It’s a fair question; after all, the initial investment in solar energy is not cheap. Yet, the fact is that it usually always pays off in the long run. So, let’s discuss whether solar is worth it, and if so, why.
There are two factors to consider – environmental and financial aspects.
It’s pretty evident that solar is environmentally friendly, but the finances aren’t quite as clear. So let’s look at both to see what you’re getting into with solar energy.
Solar Power and The Environment
First, where does your electricity come from? Chances are it is produced by natural gas, coal, or something equally as dirty; the electricity produced by local power plants is just not clean.
Likely, you don’t yet get your electricity from renewable sources. The extraction of raw materials used to create electricity is very costly, energy-consuming, and pollutes the world. Then, the processing of these materials into electricity uses additional resources.
Then, more resources are required to get that electricity to your home. This is a never-ending cycle of wasting energy, money and polluting the world.
So, from an environmental standpoint, solar energy is worth it. Of course, you can argue that producing solar panels and disposing of them is also not environmentally friendly. However, it’s simply nothing compared to the amount of pollution created and resources wasted by burning fossil fuels.
You don’t have to burn anything that creates greenhouse gases when solar power is involved. So if you want to preserve this world for future generations, going solar is worth it.
Solar Power and Your Finances
The financial aspect of solar energy is a bit more complicated. First, you must determine whether investing in a solar system is financially feasible for you.
Generally speaking, investing in solar energy is always financially worth it. However, after a certain number of years, your investment in solar power will pay for itself. The question is how long those solar panels will take to pay for themselves.
Whether 5 years or 15 years, you will break even on your investment. Investing a few thousand dollars now will help you save money on energy bills in the future. The trick is figuring out exactly how long it will take for your solar system to pay for itself.
Therefore, let’s look at the process to determine if it’s worth it. If you follow the steps, you can determine whether or not investing in a solar system is worth it for you.
The first step is to figure out how much electricity you use monthly and yearly. To do this, refer to your monthly utility bills. This will help you decide what size solar panel system will meet your energy requirements.
Then, determine how much you spend monthly or yearly on electricity. Knowing this will help you determine the payback period for your solar panels. Next, figure out how much a solar panel setup will cost you where you live.
Keep in mind that federal and some state governments often incentives for solar panel installations. The upfront cost may seem huge but will be much lower once these incentives have been applied.
Finally, determine how much energy the solar panel system will produce for you. You want to totally eliminate your monthly electricity bill; therefore, your solar system must meet your monthly and yearly energy requirements.
Once you have these numbers, you can determine how long it will take for a solar system to pay for itself. You can then figure out how much money you will save on a monthly or yearly basis based on the energy a system produces. You can then determine how long it will take for the solar panels to pay for themselves by dividing the original cost of the solar panels by your yearly utility bill savings.
Increased Home Value
There is one more thing to consider besides saving money on your energy bill – installing a solar system on your home can increase its value by up to 4%. That is no small number.
Is Going Solar Worth It?
Going solar is worth it in terms of environmental factors and your finances. Depending on where you live, it can take 3 to 15 years for the solar panels to pay for themselves. No matter how long it takes, rest assured that you will break even on your investment.
Going Solar in Today’s World – Final Thoughts
As you can see, investing in solar energy is always worth it. You’ll save money, and you will help protect the environment too. It’s as simple as that.