Should you spend money on solar panels?

In the past few years, there has been a lot of focus on green and long-term energy. The government is putting a lot of effort into promoting clean energy sources like solar, wind, and geothermal energy.

A lot of people are switching to solar energy and putting solar panels on their homes. Putting solar panels on your home will lower your electricity bills and be a great investment for your future. The government wants to put up almost 100 GW of solar panel on rooftops by the end of 2022.

The main question about solar panels is whether or not they are worth the money. Yes is the right answer. Solar panels are good for more than just saving you money on your electricity bill. Solar panels are not only cheap, but they also work well and are a good investment if you buy them from a reliable installer.

Should you put solar panels on your house?

We've talked about the different benefits of installing solar panels in your home. Now, let's talk about whether or not you should instal solar panels in your home.

Investing in solar panels is a good idea if your home meets the following conditions:

• Receives a lot of sunlight: A solar panel will be a great investment for you if your house is in an area that gets a lot of sunlight. Karnataka is the best Indian state for solar power. If there are a lot of trees and shade around your house, solar energy won't work as well for you.
• Space on your roof: If you want to put solar panels on your roof, you need a roof with a lot of room and no chimneys or other fixtures in the way. If you don't have a lot of space, you can instal a smaller system. However, smaller systems are usually more expensive than normal ones. Solar panels would be hard to instal on roofs with steeper slopes because it would be hard, expensive, and take a lot of work.
• High electricity bills: Probably one of the most important reasons to switch to solar energy is high electricity bills. The money you spend on solar panels will be less than half of what you pay for your electricity. If your electricity bill is one of your biggest worries every month, you should instal solar panels. A recent study found that putting solar panels on the roof can cut the electricity bill by 80–90% every month. An A5kW system can produce around 600 units and save Rs. 4,200 per month.

Is it worth it to buy a solar panel?

Good for the Indian climate: Solar panels not only need a lot of space to be set up, but also a lot of sunlight to turn into electricity. India is lucky to be in a place where it gets enough sunlight.

Low maintenance and no extra costs: Installing a solar system is a one-time cost, and there are no other costs besides the cost of regular maintenance. Solar panels cost very little to keep up and don't need much care.

They usually have a service life of 20 years or more with proper care, which makes them a great investment in solar power. Solar energy has a higher return on investment (ROI) than other forms of green energy. Solar promises a 20–30% ROI. It is one of the safest ways to invest because the return on investment is good and it takes longer to get your money back.

Financial benefits in the long run: Solar systems are a modern, long-term investment that is good for the environment. Most solar systems can be used for more than 20 years if they are taken care of. They are a clean, long-lasting source of energy that will help you save money on your electric bills in the long run.

Solar promises a 25–30% ROI. Rooftop solar is one of the safest investments because it offers good returns, which can be earned back in 3–5 years.

SEE ALSO : 7 Steps How to Install Solar Panel: Step-by-Step Guide with Images & Video

When is it worth it to get solar panels?

There are times when solar panels are a good investment. But it does depend on a few things.

Location

Location is important. The sun will be stronger and the solar system will be able to create more energy the closer a home is to the equator. When it comes to energy production, these homes will benefit more than homes in the north.

Think about the utility company as well. Solar panels will help homes more in states where electricity costs more, like California, Connecticut, Massachusetts, and New York, than in states where electricity costs less (Louisiana, Washington, Oregon and North Carolina).

Tax breaks at the federal, local, and state levels

With the right incentives, installing solar panels could be worth the money. For example, people who instal solar panels between 2022 and 2032 may be able to get a tax credit equal to up to 30% of the total cost of the system. Depending on how much the system costs and how much money the taxpayer has, this could be reason enough to think about it.

Second, many states and counties offer similar tax credits, rebates, or exemptions. For example, New York, which is one of the most expensive places to buy electricity, offers dollar-per-watt rebates, tax breaks of up to $5,000, no sales tax, and credits back on utility bills if more wattage is produced than is used.

Bills for energy and how much we use

The main goals of a solar system are to lessen the homeowner's reliance on electricity that doesn't come from renewable sources and to lower the homeowner's energy bills. Most of the time, a solar panel system can help a person use less electricity, which can lower their energy bill.

But in perfect conditions, the best solar panel system could actually make the homeowner money. Since the system makes more electricity than the home needs, the owners may be able to sell the extra wattage to the utility company for a few dollars each month. Even though it probably won't pay for the bill and installation in full, it's money coming into the house that wasn't there before.

Conclusion:

Solar panel systems offer many of the benefits listed above, but you can only get them if you work with a reliable solar expert. A 5 kW solar system is the same as cutting carbon dioxide emissions by 7.3 tonnes per year.

If your home meets the above requirements, installing a solar system will be the right choice for you. Installing solar systems is a step toward a future that is clean, long-lasting, and profitable.