Tuesday, July 27, 2009
Do The Energy Savings Outweigh The Costs?
If you are thinking about adding a solar electric system to your home, the costs and
the savings are big issues. First, there is the initial outlay of buying and installing the
solar panels. But there are also a lot of ways that you will be saving money, not only with
your immediate energy savings, but savings against rising fuel costs and the increase in your
home's value as well.
Since so many factors go into installing a solar electricity system, each house
needs to be considered on a case by case basis. The pitch of the roof, the direction it
faces, the location of shade trees or buildings that might block sun from reaching the panels must
all be evaluated. And an accurate evaluation is extremely important for each system to
function at maximum efficiency. Professional installers can provide accurate quotes for the
materials and installation for your individual site.
Your immediate energy savings will depend on whether or not your local electric company
participates in net metering. Net metering refers to the policy which some electric utility
companies have of buying back excess electricity that is produced by customers who have solar panel
installations. If your local electric company offers this, you will see a substantial
decrease in your electric bills. Some customers actually have a zero balance each month as
their solar panel system generates enough electricity for their own use as well as excess to send
back into the grid. But even if you electric utility does not allow net metering, your
electric bills will still be reduced. During the day when the sun is hitting your solar
panels, your appliances will be running off your own solar energy rather than electricity from the
grid.
And there is also the probability that solar electric systems will become valuable
assets to homes in the near future. As energy costs continue to rise, awareness of the value
of alternate energy systems is on the rise. If you have a history of energy savings that you
can show to a potential buyer, it can be a strong incentive for them to choose your home over one
that has higher energy operating costs. And since energy prices are predicted to be higher in
the future, your solar panel system represents a real hedge against inflation. A solar
electric system also means that your house won’t be affected by brown outs and power outages that
can occur due to bad weather or simply due to grid overload.
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