If you’ve been paying attention to even the slightest bit of news online or off these days, you already know solar power is gaining interest and popularity quickly. You’ve probably also heard that it’s quite expensive though, and you might be wondering whether it’s worth it.
The short answer is: absolutely. Let’s look at that in detail though.
Setting up solar power for your home can be very expensive in the beginning, but it doesn’t have to be. There are several approaches you can take, and each will be a solid investment in your future.
When I use the word “investment” here, I’m talking cold, hard cash.
Yes switching to solar power is an excellent investment in the Earth’s future, cleaning up the environment and so on, but most people are more interested in knowing how it helps them. Today. And how it helps their own personal wallets.
The easiest way to start investing in your future using solar power is to simply start buying small pieces to a system which can be expanded over time. Commercial solar panels can be purchased for just a few hundred dollars these days, and the addition of inverters and power controllers may add another $ 100-$ 200. Overall, most starter systems can usually be purchased for less than $ 500.
Now that cheap of a starter solar power system isn’t going to eliminate all of your electric bills right from the start of course. Instead it will contribute free energy from the sun which in turn starts reducing how much money you have to pay the electric company each month.
Over time as you invest small amounts of additional money into buying more solar panels, you’ll gradually reduce your electric bill to $ 0.
The true power of this investment is seen over time though. Solar panels last 20-30 years, and they require almost no maintenance that entire time. If the cost of electricity were to not rise at all over the next 20 years and you currently average $ 100 per month on your bill, you’ll pay $ 20,000. That’s $ 1,200 per year for twenty years.
We all know the cost of electricity is not going to stay the same for twenty years though. It will rise. And it will probably rise dramatically.
Most of us don’t even have the luxury of $ 100 electric bills each month either. The average American family pays closer to $ 300 per month for electricity. At that rate – assuming there are no increases of any kind in the next twenty years – that’s $ 72,000 paid for electricity!
So regardless of whether you choose to install solar panels a little at a time, or you go for the full solar power installation that costs $ 10,000, you will be making an excellent investment in you and your family’s future.