Today, Australia has a capacity of more than 7.8 gigawatts of solar energy, which is set to increase in the future. That gives people the opportunity to take advantage of the benefits solar power offers!
However, the hefty upfront payment may be a bit daunting to some. That’s why it’s important to learn more about what solar power has to give to you and your household and why it’s worth the investment.
Why Use Solar Power?
Solar power works through the sun releasing energy (light and heat), which is called radiation. Radiation can then be harnessed using solar panels containing photovoltaics, absorbing radiation then converting it to electricity. Here are the main reasons why you should save up and invest in solar panel installation now:
- It’s Actually Affordable
Prices for solar power systems have actually lowered in the past years, costing around 40% less to install today compared to 10 years ago. And while prices went down the average size of solar power systems increased, so you get even better value for money getting bigger panels compared to smaller systems.
- Short Payback Periods
With the right-sized solar panel system to use at least 30% of energy produces, you have an expected payback time of 6 years or less, on average. You can also experience up to an 18% internal rate of return for the first year.
One can reduce the payback period and maximize returns by increasing the rate of direct solar energy consumption, reducing energy usage, ad investing in energy-efficient appliances.
- Increase Home Value
The more solar panels installed, the higher your house’s value is. You can experience an increase of about $6,000 per kW of solar power the house has.
And because everyone requires electricity, the cost of using electricity being reduced thanks to solar panels is quite attractive. Because of this, people will favor your home even more, so you can sell your home even quicker.
- Reduce Energy Bills
This is probably the main reason why people want to invest in solar power systems, besides the fact that it uses natural power. You can enjoy future energy bill savings, saving up to thousands of dollars from energy bills. This can recoup the entire cost of installing and maintaining the solar power system!
Speaking of environment-friendliness, solar panels will produce NO carbon emissions after manufacturing. You receive all-natural power from the sunlight!
- Go Off-the-Grid
Traditional power and electricity would usually rely on limited sources such as coal or natural gas, which makes energy prices higher. But with a solar power system and solar electricity, you can make your home off-the-grid.
Meaning, you protect yourself from ever-rising energy prices, enjoying natural and cost-effective electricity daily. Energy price hikes won’t matter!
- Reduce Electricity Transmission Loss
Solar panels can increase your electricity efficiency when it comes to the distance it takes for transmitting electricity to the house when the electricity is generated and used in a similar area.
Besides this, solar power systems are more durable, so you have less risk of experiencing any service or power interruption.
- Improve Your Power Grid Security
Houses that have solar panels installed are self-sustaining. The more houses using solar power, the better your power grid security becomes, reducing the electricity reliance on fossil fuels.
This means that whether a human-caused or natural disaster happens, you will less likely experience a complete blackout. Your family will remain safe and comfortable in your house with better energy-independence, which is great for remote homes and communities as well.
With all this in mind, you should also be aware of the disadvantages it may have. Just like other modern power sources, solar power also has its pros and cons.
While solar technology has been around and gaining popularity throughout the years, it might not be as efficient compared to other power sources, depending on how you use it. For instance, modern solar panels would convert 20% of the energy received into power, though today’s technology is improving on this.
Furthermore, the manufacturing of solar panels may have an environmental impact, as some panels are made with chemicals like hydrofluoric acid and sodium hydroxide, which is harmful to the environment and produces greenhouse gas emissions. Because of that, be sure to invest in solar panels from companies that perform best from environmental perspectives.
But as long as the panels are installed correctly and that you use them properly, you can reap the amazing benefits it offers in the long run and keeps your power running for as long as you desire.
Wrapping It Up
As more and more people turn to solar energy, it’s time that you do so as well! The benefits of solar energy outweigh its disadvantages, and if you have the budget for it now, make sure that you have your home inspected to see if solar energy can power it effectively.
I hope that this list of the benefits of solar power gave you an idea of the wonders of this renewable energy source. If you are considering using solar power for your home, make sure that you hire the right professionals and use the right solar panels built for your home and household.
Do you have questions or want to share your insights on solar power and how it’s fared for your home? Share it in the comments section below, I appreciate all of your thoughts and knowledge!