Do Solar Panels Save Money?

May 18, 2013   //   by Russell   //   Solar Panel Questions  //  No Comments

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The facts about solar panels; do solar panels save money and how much do they save?

do solar panels save moneyOne of the best types of technologies to buy is the type that turns into an investment for you; anything you buy that can cut your expenses regularly is extremely helpful and can pay off in the long run. Solar panels are a good example as panels are able to provide electrical energy for your home, cutting costs and saving up to half of your utility bill.

However, there are expenses with solar panels, as the set-up can be quite costly. Solar panels are also not a perfect technology, as they have had their share of issues that have been overcome.

The question is, with the expenses compared to the electrical input, do solar panels save money? And how exactly do they save money?


Solar Panels and How They Work

A solar panel is made up of photovoltaic cells, which have the ability to convert sunlight into electricity and are linked together to make up the modules, panels, and arrays. Solar panels can be developed in different ways to improve both efficiency and durability, but can cost more.

A good example is the silicon mono-crystalline solar panels, which are some of the better-running panels but are the most costly. The poly-crystalline, however, is not as efficient or durable, but is far less expensive.

There are also thin-film solar shingles that are the least costly, and Dow Powerhouse’s solar shingles are rated at the same efficiency and permeability levels as the poly-crystalline and even the mono-crystalline.


How do Solar Panels Save Money?

The tough part about getting a solar panel is the choices; when you get a panel, you have to get the entire solar panel system hookup that you need with it, you can add different parts to the system, and you need an installer. Overall, even if you get an inexpensive panel, it will still cost a good amount.

However, many states, Massachusetts included, are heavily supporting homeowners who want solar, allowing various benefits, rebates, etc., such as SREC’s that give you your money back for any solar energy you produce. As long as you get a good system set up, it can also last up to a few decades, giving you plenty of time to earn your money back, but considering the rebates and such offered, the final price of a solar panel, system, and installer is quite low.

Solar panel systems generally save a fair chunk of your utility bill; most are guaranteed at least a quarter, which is a pretty good amount of money saved. Overall, as long as you get the right panel, system, and installer, solar panels easily save money.


What are the Best Solar Panels to Buy?

Now, the question is what panel should you get? Normally, it’s highly recommended you take a look at award-winning panels from big solar companies such as SunPower, Kyocera, Westinghouse Solar, and SolarCity.

However, there are solar calculators available to tell you exactly how much a panel costs versus what it will produce for you. Many are recommended Dow’s solar roof shingles, as they have the best of both worlds in the way of being both inexpensive and having the high efficiency ratings homeowners are looking for.


Do Solar Panels Save Money, and how do They?

It’s understandable to want to save money; when those bills pile on, there’s nothing better than knowing they can easily be taken care of. That’s the real benefit in getting solar panels, as they can save you money in the greenest and fastest way possible.
The cuts solar provides you on your bill easily makes buying a panel worthwhile, especially if the company you go to is high-rated and makes good panels. Overall, when asking do solar panels save money, the answer is yes as long as you go through the process of buying the panel properly; solar panels easily become an investment for any homeowner.


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