Solar Power

Everything You Need to Know About Solar Electricity

solar electricity
Written by Fritz

Did you know that solar system installer is the #1 fastest-growing job in America right now?

Solar installers are coming into sharp demand in the US as people turn to solar electricity in droves. 

Solar power is an exciting area at the moment. Not only can solar panels save you a lot of money over time, but they are also one of the sources of clean energy that might be able to help avert the climate crisis. 

Are you wondering whether solar electricity is the way to go for your home? Or whether it truly is a sustainable solution? 

If so, keep reading to find out everything you need to know about solar power. 

Solar Electricity Is One of the Cheapest Sources of Energy

Are you thinking of installing solar panels for your home? If so, you’ll be happy to hear that solar electricity is one of the cheapest sources of energy.

According to the International Energy Agency, solar energy was the cheapest source of energy in 2020. 

Although solar power systems do come with a large upfront cost, after this they generate free electricity for your home. For most homeowners, solar panels will start to pay for themselves within 6-10 years. After this, there will be replacement costs for batteries, your inverter, and the panels themselves.

However, modern solar panels have pretty long lifespans. Most solar panels come with performance warranties that guarantee energy production for 20 years or more.

Batteries and inverters typically need to be placed more frequently. However, if you go with new technology like lithium batteries, you shouldn’t have to deal with battery replacement for at least 10 years.

Solar Installations Are Becoming More Affordable Than Ever Before

As we said above, solar installations do require an upfront investment. However, the cost of solar panels and systems is dropping quickly. Reports show that solar power costs have decreased 99% in 40 years

One of the reasons for this is improved efficiency. Solar panels are now able to generate more power per cell than ever before. The increased capabilities of solar panels have made them a more viable source of clean energy. This has increased demand, investment, and solar energy research.

Taken all together, this has resulted in low panel prices. A decade or two ago solar electricity wasn’t something that made financial sense for the average homeowner. The high cost of solar electricity made solar solutions something people mostly used in locations where grid power wasn’t an option. 

Now, solar power is outstripping grid-supplied power in affordability. 

Solar Panels Are a Sure Investment

Like we said above, if you want to generate solar electricity for your home, the installation will require an upfront investment.

The key word here is investment. Because solar panels pay themselves off over time and then generate electricity at no cost, they will yield a return for your money over time. 

The exact return will depend on what you currently pay per unit of electricity. As well as your consumption and installation costs. 

However, most households should be able to see a return on their initial outlay that far outstrips a lot of traditional investments. The ROI of solar is substantial enough that some people even invest in solar farms, where they can enjoy average returns of between 10%-20%. 

Besides generating attractive returns, solar power systems are also a sure investment. Unless the price of grid-supplied electricity drops substantially (which is very unlikely), what you invest in solar electricity is pretty much guaranteed to generate a return. 

What’s more, most investments require you to place your money in someone else’s hands. `with a solar system, you can literally watch your investment produce returns right from your very own roof. 

Homes With Solar Power Sell for More

Besides generating an ROI in the form of free electricity, solar panels can also increase the value of your home. Stats reveal that homes with solar power might sell 20% faster and for 17% more than homes that are reliant on grid-fed energy. 

If you’re thinking of selling your home in the future, this a great news. Even though you might not utilize your system for its full lifespan, you can still expect a return on installation when you sell your home. Because solar increases home values, you should be able to recoup installation costs if you sell. 

Solar Power Could Play an Important Part in Saving the World From Climate Change

A lot of the benefits of solar electricity that we’ve outlined have to do with financial savings. However, one of the most important things to know about solar power is that it could play a vital role in the shift from fossil fuels to renewable energy. 

Although solar power is a source of clean energy, it still has a carbon footprint. Solar panels and components require finite resources such as silica, lithium, and other metals. These materials have to be extracted from the earth and manufactured into solar panels. There are also transport costs and emissions involved solar system supply chains. 

However, solar energy is still one of the cleanest and most accessible forms of renewable energy available today. Unlike things like hydropower and geothermal energy, solar electricity is something that private individuals all over the world can produce. 

As emission levels reach critical levels, we are starting to witness the effects of climate change right on our doorsteps. One of the biggest challenges humanity is facing is how to drop carbon emissions and switch over to clean energy before it’s too late. 

Solar electricity gives the average person a chance to make a difference and limit their carbon footprint.

Besides powering your home without creating emissions, solar electricity is also a perfect complement to electric cars. As EV and solar technology advances, it’s becoming increasingly feasible to charge EVs off residential solar systems. 

Looking for More Solar Electricity Info and Resources?

Solar electricity can not only save you money over time. It can also significantly reduce your carbon footprint and help in the fight to bring down emissions as it is a renewable resource. 

Are you looking for more info on solar energy? We have a wealth of information on our blog, as well as a collection of helpful case studies. 

If you want to install solar panels on your home, you can also head to our installations page for more guides and resources.

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