Are solar savings worth it?
In India an average household bears a monthly expense of approximately 3000 - 4000 INR.
High electricity bills will cause you to start double-checking light switches, using more candles to light a room, and opening up the windows instead of using AC /Fans. But what is important to consider is ultimately the savings that you can make with these simple, easy-to-use hacks. And no we are not against these quick saving tricks, neither we are here to discourage you from deploying them to help yourself manage your finances. But very honestly they are not sufficient and neither satisfying!
Utilities are expensive!
And it’s time to take a step in order to bring your energy costs down for good. Your family is thinking about installing solar panels, but you’re not sure if solar is worth it in the end.
Below we’ve provided a quick guide on solar savings. Make sure to keep reading if you really want to know if you can save money.
Do you actually save money going solar?
The straightforward answer to the question "Does solar actually save you money?" is yes, but the amount of money you will save is based upon various factors. The number of direct hours of daily sunshine, as well as the size and angle of your roof are some of the crucial factors in deciding how much solar can help you save.
With so many different investment opportunities available today, it’s easy to be skeptical about new products and promises to save you tons of money. Solar panels are no exception – saving money by lowering your electric bill is one of the many reasons to make solar lucrative as a product and home upgrade.
Using solar energy isn’t free
Many solar companies will advertise to you that solar energy is free, but that is factually incorrect. While the sun does provide sunlight absolutely free of cost, there’s still a solar installation cost to take into account.
Make yourself aware about your energy requirements, contact multiple companies in your area about solar installation costs, and then sit down to compare the estimates. The installation price will depend on several factors, including how many panels you’re putting on your home, your specific energy needs, etc.
It’s tricky because you’ll have better solar energy savings if you capture more sunlight, but it’s more expensive to install a greater number of panels, especially if you are looking for an economical solution to your energy expenses.
For the best return on your investments it is advisable to aim for 80-90% savings and not more.
The good news is with a correct design - you can really cut down on the unnecessary costs besides also saving on your utility bills.
Solar panels do value a considerable amount to start with, however compared to the price that you are going to be paying for electricity over the years, solar panels are a much better investment and worth every penny. It not only reduces the cost of your electricity however additionally provides you with clean emission-free energy right from your roof with very little maintenance.
Decide how you’re paying
To put it straight and simple, installation costs for a typical home range anywhere between 2 to 4 lacs. Still it may not be true for you, as the cost varies based on the size of your house and your energy consumption pattern.
Yet, those are big numbers, so you might want to do all the calculations and thinking before moving ahead. Because most people don’t have that sort of money to drop on any given day, you’ll need to decide if you’re going to lease the panels, take a loan or planning of a more affordable strategy through your savings. Managing finances can be complex, so don’t rush this decision.
If you want to go for a loan, check with your bank. Some banks offer loans specifically for solar panels. As you decide how you’re paying or whether or not you even want to own the panels, think about how long you plan on staying in your home. If you plan on moving soon, it’s probably not worth it.
Solar savings: Are solar panels worth it?
We hate to put this on you, but we have to put it on you.
Solar panels are worth it, if your house gets plenty of sunshine and of course if your house is a long-term investment for you, because solar is a long-term investment and it will continue to supply you with clean energy even when you grow old.
It may not be worth if you’re moving soon or you live somewhere where it’s often cloudy and dreary. There are a lot of factors to consider when making the decision.
While using solar energy isn’t free. But installing solar panels in your home will surely lower your electricity bills and be a great investment for your future. So, "Are solar panels worth your investment?" deciding on this is a personal choice.
If you’ve been thinking of whether or not to switch to solar energy, or still need more clarity about it, book your free consultation.