Are Solar Panels Worth It?

By: Maha Kamal

Solar Panels:

A Solar Panel is basically a device which covert sunlight into electricity by using Photovoltaics cells. Its is best alternative source of producing electricity not in Pakistan but also used world wide specially in those areas where they have plenty of sunlight. Solar Panels is less costly if it is properly maintained as compared to huge installation of electric utility poles and cabling from the nearest main grid access point whether solar panels investment is worth able depend upon several factors like financial, environmental or personal consideration. Let discus it briefly 

Financial Consideration:

Solar panel installation can be expensive but it give big financial break through by saving electricity bills, from solar panels we are able to produce own electricity. it is a renewable source of energy. it also give you Tax incentive by federal government allow you to deduct 30 % of the installation cost from your federal taxes. it eventually decrease the cost of electricity bills depending upon the consumption and installed system size. its increased the property value is you have solar panel system, well it also give advantage through pay back period, ranges from 5 to 15 years after that you will you electricity free for life time

Environmental Factor:

Exposure of sunlight is very important it increase the effectiveness of solar system depend upon on your location. Areas where sunlight is more will generate more electricity with more cost effectiveness. solar system is generate a clean and renewable energy by reducing carbon foot print. Over their lifetime, a typical residential solar system can offset several tons of carbon dioxide emissions 

Personal consideration: 

If reducing your environmental impact is a priority, the non-financial benefits of solar panels might be a compelling reason to invest. Solar panels are a long-term investment. If you plan to stay in your home for many years, the financial and environmental benefits can be significant.

Maintenance and Upkeep:

Majority of solar panel systems don't need a lot of ongoing care. For example, if there is debris covering the panels, you might choose to wipe them off. Should you want to hire an expert for that kind of service, budget several hundred bucks for each visit. Perhaps more essential, you should check your panels' generating capacity on a regular basis as a homeowner. If the capacity starts to decline and it isn't the result of bad weather, you could need to hire a professional. By making sure that no one walks or treads on your panels, that they stay clean and clear of dirt and debris, and that any branches or other heavier objects that fall off don't cause damage, you may extend the life of your panels.

Pros and Cons of Solar Panels:

Once you’ve worked through all of these calculations, you’ll likely end up with a single number—the number of years it will take for a solar system to pay for itself in savings from your energy bills. If you live in a sunny part of the country and have high utility bills, you could be looking at a system that will reach this point in five years. Other homeowners may have to wait 10 or 15 years.

Like other things, solar energy has advantages and disadvantages. However, the social advantages to the environment and reducing your carbon footprint may outweigh certain economic expenses, which may mean more to you than a strictly financial assessment.

Pros:  

• Benefits of green energy that reduces carbon emissions
• With net metering, you may resell any extra energy you generate.
• It's possible that you qualify for certain subsidies and tax benefits.
• Lower power bills

Cons:

• The cost of installation and upkeep is still very expensive.
• Solar power is only effective on specific kinds of roofs and during the day.
• It could be necessary to do maintenance.
• Tax benefits are not certain to last.

How Much Can You Save With Solar Panels?

It is theoretically possible to estimate the annual savings on energy bills once you are aware of the initial cost and energy output of a solar power system. In other words, the amount you save by installing a solar panel system is equal to the difference between what you would have spent for utility power and the cost of system installation and upkeep.

In reality, though, this is a difficult estimate to do because it relies a lot on your current power payment method and because the system is usually paid for in full at the time of installation. Residential customers are frequently subject to a fixed payment from utilities for power, regardless of when it is used. This implies that homes' solar power systems only offset the price they pay for energy, which is significantly closer to the average cost of power generation, rather than the costly cost of peak electricity production.

However, in order to reflect the true cost of producing power at various times of the day, a number of utility providers have implemented pricing plans that enable homes to be billed at various rates throughout the day. This may imply lower rates at night and greater rates in the afternoon. In locations where this time-variable rate is employed, a PV solar array would be helpful since the solar power generated would balance the most expensive electricity.

How advantageous this is for a particular homeowner will vary depending on when and how much the rates change under such a plan. Similar to this, periodic variations in demand lead to distinct price structures for utilities at different parts of the year. Solar power gains value in those with higher summertime rates. Solar cost calculators are available in many states and can help you estimate how much you'll save depending on your specific circumstances.

Conclusion:

While choosing whether or not to build a PV solar system may seem overwhelming, it's crucial to keep in mind that this is an investment that will take time to pay off. From a financial standpoint, solar electricity makes sense in many places.

For some households, the initial expenditures associated with installing solar electricity might be exorbitant. Even if you're not sure whether you can afford to buy and install a system entirely, it's still worthwhile to investigate your choices because there are several incentives, tax credits, and financing alternatives available. Installing solar power can help homeowners prevent future energy cost swings. Alternatively, homeowners may choose to adopt solar for green living, putting aside their financial interests. Solar panels can be a worthwhile investment, especially if you 

• live in an area with good sunlight exposure. 
• Benefit from federal, state, or local tax incentives. 
• Plan to stay in your home long enough to realize energy savings and recover your investment. 
• Want to reduce your carbon footprint and contribute to sustainability. 

However, if you have high upfront costs, a short-term horizon for living in your current home, or limited sunlight, you may want to weigh the benefits against the costs more carefully. Consulting with a solar energy provider and a financial advisor can provide personalized insights based on your specific situation.