When most home owners start looking into the idea of installing solar panels in their property, they very rarely have any reservations about using natural energy to power their home. The thing that usually stops them from going ahead and installing this type of system is the cost. Even with the knowledge that they will be doing their bit to help the environment and saving money on their annual energy bills, in the past this wasn't enough to outweigh the significant initial investment they would have to make. Has anything changed?
On the face of it, many home owners struggle to see the financial benefit of investing in solar panels, and when you look at the figures it's easy to see why. An average sized solar power system could cost around $15,000 to $20,000 to install. When you consider that this household is then likely to save around $200 a year on their energy bills, it seems like an awful lot of money to invest, for not a lot of return. However, these figures don't tell the full story and there are a couple of other things to consider.
The reality is that the cost to the individual homeowner is actually a lot less than the full cost of installation, and instead of having to pay $15,000 dollars, they might only need to pay a tenth of that depending on where they live in the country. The reason for this is that there are so many initiatives to get more homes using natural power sources, that the government and the power companies could actually end up paying 80-90% of the cost of installing the system for you. Which suddenly makes the math a bit more attractive.
Something else worth considering is that most of the energy savings are calculated using the current energy prices. With dwindling resources, energy is expected to get much more expensive over the coming years. So spending money on fitting a solar energy system now will mean that you're likely to make even more from your investment.
Even if you sell your home before you've recouped your investment you're still likely to get some of your money back. Properties that use natural energy sources to save on fuel bills are an attractive proposition for buyers, who will pay more for them. The government and other organizations are literally falling over themselves to give you the money you need to install solar panels. So whether it's purely for the environmental benefits, or because you like a good investment, there's never been a better time to switch to natural energy.
On the face of it, many home owners struggle to see the financial benefit of investing in solar panels, and when you look at the figures it's easy to see why. An average sized solar power system could cost around $15,000 to $20,000 to install. When you consider that this household is then likely to save around $200 a year on their energy bills, it seems like an awful lot of money to invest, for not a lot of return. However, these figures don't tell the full story and there are a couple of other things to consider.
The reality is that the cost to the individual homeowner is actually a lot less than the full cost of installation, and instead of having to pay $15,000 dollars, they might only need to pay a tenth of that depending on where they live in the country. The reason for this is that there are so many initiatives to get more homes using natural power sources, that the government and the power companies could actually end up paying 80-90% of the cost of installing the system for you. Which suddenly makes the math a bit more attractive.
Something else worth considering is that most of the energy savings are calculated using the current energy prices. With dwindling resources, energy is expected to get much more expensive over the coming years. So spending money on fitting a solar energy system now will mean that you're likely to make even more from your investment.
Even if you sell your home before you've recouped your investment you're still likely to get some of your money back. Properties that use natural energy sources to save on fuel bills are an attractive proposition for buyers, who will pay more for them. The government and other organizations are literally falling over themselves to give you the money you need to install solar panels. So whether it's purely for the environmental benefits, or because you like a good investment, there's never been a better time to switch to natural energy.
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