Designing your solar energy system to maximize savings and return on investment
1. Drastically reduce or even eliminate your electric cost
Whether you’re a homeowner or a commercial business, electricity costs is often a significant portion of your monthly expenses. A solar panel system can help you generate free power. A single installation can last upto 25 years. Even if you don’t generate all of the energy you consume, you will reduce your utility bills and you’ll still save a lot of money. If you generate more than you consume, you may be able to make money by selling it to your local utility company.
2. Earn a great return on your investment
Solar installations are an investment into your future power needs. While there is an initial investment into the panels, according to various studies done by independent surveyors, the payback period is typically about 7 to 10 years, and the savings generated thereafter from free power typically translate to a ROI of 20% or more.
The federal govt. also gives you tax incentive to install solar power, upto 30% of your installation cost.
3. Protect the environment and your health
Healthcare cost keeps rising as our planet and we get sicker due to pollution. Our planet is in grave danger, and we need to act immediately to help save the planet and ourselves. Continued use of fossil-based energy means we are polluting our environment. Our planet’s temperature is rising, which means we will have more horrid weather. Unless we reverse our dependence on fossil fuel and move to renewable energy, we are placing ourselves at risk. Tapping solar energy is the easiest way to reduce your carbon footprint. A typical residential solar panel system will eliminate four to five tons of carbon emissions each year—the equivalent of planting over 100 trees annually.
4. Increase your property value
Multiple studies have found that homes equipped with solar energy systems have higher property values and sell more quickly than non-solar homes. As homebuyers become more educated about solar, demand for properties equipped with solar panel systems will continue to grow. This is increasing so as more millennials enter the property ownership market.
5. Protect against rising energy costs
Global warming is going to cause extreme weather conditions, i.e. higher highs and lower lows, which means your air-conditioning and heating bills will go up. The cost of conventional energy will go up with demand for electricity. The best way to protect yourself from rising utility bill is to generate your own power.
Installing a solar energy system is relatively straightforward.
it is the design that makes the difference.
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Installing a solar energy system is relatively straightforward. However, it is the design that makes the difference. Having the right system configuration and using the right components to best serve your needs will help maximize the value you derive. Experts can help you with the detailed analysis of your needs and constraints, design the right system for you, and help you realize more value faster.
How does one decide on what kind of solar system do they go for?
There are several things to consider:
What are you installing the solar system for? Is the objective to reduce your electric bill or is it to generate as much power as possible?
Is the goal to go completely off the power grid?
How much power are you consuming today? Is it expected to go up or down in the future?
How much direct sunlight space do you have for installation? How many hours of unobstructed sunlight do you get?
If you plan to install it on the roof, is your roof structurally sound?
There are several different configurations, each with its own advantage and short-comings. Smaller systems can be built using a single central inverter, however larger systems need to use string-based or micro-inverters.