The Debate Over Implementing Solar Power In Your Home
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| (Photo by Jeremy Levine Design) |
Homeowners now have a myriad of options for switching some,
or all, of their power consumption to solar. Solar panel systems have
grown in popularity, but whether or not they are smart financially depends on
several factors including one’s location, average power consumption, and anticipated
time at one’s residence.
In this post, we delve into the details to help you make a
decision in the ever-growing world of solar power.
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There are many states in which you can go solar (full
purchase price) for around $10,000. This number depends on a number of factors
including state, local, and regional incentives. Looking into your state’s tax
breaks and rebates, is a good first step. According to 2011’s numbers, the national
average cost is at $17,000.
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What You Could Save Every Month
Your monthly savings with solar depends mainly on the cost
of power from your regional utility companies. Places like New York, where
electricity is expensive, will give you added monthly savings by switching to
solar.
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What You Could Save Over Time
A common worry is that solar panels won’t last long and when
investing thousands of dollars into such an energy solution, that is
understandable. Most solar panels will last you at least 25-30 years. Your long
term savings can be over $20k, after 20 years. In Hawaii, where electricity
prices are extreme, one can expect to save approximately $64,000 in 20
years time.
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How Long It’ll Take To Pay For Itself (State
by State)
The amount of time it takes for your investment in solar
panels to be returned depends on several factors. The biggest factor is how
much electricity costs in your state. The more you’re saving each month with
solar panels, the quicker your investment will pay for itself. For example, if
you live in a state where electricity is cheap, like Alabama, solar panels may
not be a good investment. It would be like buying an expensive hybrid car, when
gas was .99 cents a gallon. If you know you will be staying in your home longer
than the number of years it will take to pay for itself, then solar panels may
be an investment you should consider.
Note: These maps are based on averages. And don’t show detail about solar rebates in all the states.
SOURCE: US homeowner solar estimate
tool results, 2001. Energy analytics powered by Clean Power Research.
About the Author
Bahram Nasehi is a Vice President and partner at Dulles Glass and Mirror. He is instrumental in the developement and manufacturing of custom cut glass products including wall and bathroom mirrors, vanity mirrors and glass shower doors.
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Elena White is the founder and editor of Life The Green Way, corporate sustainability coordinator at her day job, and a "rurban" wife and mother. Learn more about her here and follow her on Twitter at @Lifethegreenway.
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