Is Solar Power Really Worth the Price?
Thanks to advancements in technology, more and more people can access free and clean solar power. With a solar panel system, you can generate huge monthly savings. However, solar power is also an expensive investment. Before you get your system, you’ll need to determine if it’s the investment is worth the price.
How Much Do Solar Panels Cost? The cost of a solar panel system is calculated by watt. Solar power systems come in different sizes and types, but most have approximately 6 kilowatts or 6000 watts. A Mauzy Solar expert can help determine the needs for your home and figure out the total costs for your system.
Many factors go into how much a solar panel system will cost you, but you can expect to pay a minimum of $10,000. Not to worry, a Mauzy solar professional will go over options with you for buying or leasing your system.
How Much Does it Cost to Run the System?
Solar energy is free, so once you have the panels installed, you don’t need to pay a monthly energy bill (as with electricity). In fact, solar panels save you money each month by removing part of your energy costs. In California, the average cost of a 6 kilowatt system is $12,432, and the electricity rate is about $0.1805, which leads to a 20-year savings of $31,307.
Thanks to these savings, you’ll recoup most of your investment before 10 years, and panels last about 25 to 30 years, which gives you 10 to 15 years of absolutely free power after recouping the initial investment. You can use these savings to help pay for repairs and maintenance. Just make sure the system is originally installed correctly by a reputable provider.
Any energy system requires maintenance, and your solar panels system is no exception. Without regular attention, the panels can degrade faster than normal, become damaged/inefficient, etc., which ruins your return on investment. You can remove any debris yourself, but don’t try to fix panels on your own because you may void the warranty.
What About Free Solar Panels?
Some companies offer free solar panels, which you may think sounds too good to be true. In most cases, you’re right. True, you can get solar panels installed on your roof for free, and then you can access that power for clean green energy. However, in this case, the solar power isn’t free because the solar company owns the panels and any power they absorb.
In other words, the solar company is just using your house as a small energy-generator. They can then sell this energy to others, including you. The perk is you get to use green energy and reduce your carbon footprint, but that energy is not free. You may see some savings because solar energy is cheaper than electricity, but it’s not the same investment as buying your own solar panel system.
For many homeowners, this may seem like the only affordable option, but you have another option: a solar loan. While you pay off the loan, you don’t technically own the solar panels, but the energy is still free. And once the loan is repaid, the system and savings are all yours.
Solar power will provide you with free energy for your home, but the panels are expensive to purchase. The savings they provide, however, will allow you to recoup the initial investment fast. If you would like to know more about solar energy, contact us at Mauzy Heating, Air and Solar today.