Is Using Solar Power Cheaper?

If you’ve noticed that your utility bills are getting higher every year, then you may be considering the benefits of solar power.

Yes, there’s a healthy dose of innovation in the field of solar panels for your roof and walls and slick marketing to observe and guilt you into making the switch, however, is it the any cheaper?

If you’re an innovator or early adopter on the technology adoption curve then there are some spectacular solar systems in the market that will turn your ‘want’ into a ‘need’ including solar paint and solar wallpaper.

Innovation

The panels also come in all shapes and sizes, so there’s plenty of variety to choose from, now the market is more mature. NASA used solar power for the Vanguard satellite in 1958, and its first use was in the late 1800s. For use in homes, the use of solar power popularised in 2005 with the advent of DIY panels, and we know how prevalent it is today. If you’re interested, Wikipedia has a solar cells timeline that’s interesting viewing.

Sunshine As A Source Of Power

Sunshine is free, abundant, and it’s going to be the most environmentally friendly way for you to power your home. The question, though, is whether solar power is cheaper in the long run?

Of course, it makes sense that you should access power directly from the source rather than paying for it via a power plant. Solar is arguably the only renewable source that provides enough energy direct from the source. Advancement in the panels to absorb it and then the batteries like the Telsa to store for later have made it viable for comparison.

Other Energy Sources

There are other sources of renewable power like wind and water, but they need a power plant, so they are more expensive. Using water to create power, requires a lake and dams. Wind on the otherhand needs wind farms and they’re popping up on the landscape both in the sea and on land.

Solar power is also a cost-effective option when compared to other energy fuel like oil, gas or coal. Plus these sources are a finite supply.

The installation cost of solar panels and battery for your house may seem like rather a significant investment, that is made up-front and when you consider the total price you have to think long-term to find a healthy return on investment.

The sun – for now – isn’t going anywhere. Gas and coal, on the other hand? As mentioned, they have a shelf-life. The good news is technology is improving, which is moving the odds in favour of solar. However many households know they’ve jumped in too soon and they’re not likely to see solar as cost savings for decades.

However, investing in a system today may see your property harnessing enough power so you can pay off it off within five to ten years. If you do the math, the money you would spend on utility bills over a decade would be significantly more than on solar panels.

Comparing apples with apples is the only way to know if solar will work out cheaper than other energy sources to power your home. Do the research and calculation on ROI at the time you’re likely to move ahead.

Summary

It’s fair to say, we have the innovators and early adopters to thank for getting in first and testing new inventions in solar irrespective of cost and value for money.

Generating your energy at home is fun and empowering. Solar power will be the game-changer we’ve all be looking for, and energy will be easier to produce and thus cheaper too.