You shouldn’t be reluctant to spend money to buy solar energy equipments for your home. The money you spend in installing solar panels at your home is a better investment than investing the money elsewhere.
You are benefited from your investment in solar power in two ways:
- It helps you to lower your monthly electricity bill.
- It raises the resale value of your house.
Now let us compare investment in solar energy with other common ways of investing money. To make the comparison easy, first we have to calculate the rate of return on the investment in solar energy.
If there is a reduction of $50 in your monthly electricity bill after installing solar panels at your home at a cost of $4000, your annual return rate is 15%. It means that you are gaining $600 yearly on an investment of $4,000.
At this rate, whatever amount is invested in solar energy will be collected back within a period of 80 months. This is the payback period. The payback period for other forms of investment is longer than that of solar energy.
On the other hand, if you spend $4000 on repairing and installing new facilities in your kitchen, you are not going to get anything in return and your return rate on your investment is 0.
If you deposit the money into your bank account, you will be getting $20 at the most as interest. You will be getting $ 240 over the year and it is a mere 6% return on your investment. The payback period in this case is a little over 16 years or 200 months.
Another investment option is in stocks and shares where the return can be much higher than any other form of investment. But investing in stock market is quite risky. There are chances for both making and losing huge amounts of money within a short time. Even experts in stock market advice moderation and caution while trading in shares.
Compared to investing money in stock market, investing in solar energy is much safer. Your money will not be lost in any way. Furthermore, the value of your house increases once you install solar energy panels at your house.
Even if you sell your house after installing solar panels, the value of your house will be much higher than the amount you spent to install solar panels on your house roof.
For example, if your house is valued at $50,000 and you spend an additional $4000 to install solar panels, the value of your house now will not be just 54,000. You can expect to get much more for your house than this because solar energy is becoming the trend of the day and people are willing to pay more for a house that already has solar energy installations.
Solar energy, like wind and hydro electricity, is a clean and green energy. Its production doesn’t pollute the environment. In a way, changing over to solar energy helps to reduce the production of carbon dioxide and other pollutants because every unit of solar energy produced is equal to a corresponding reduction in the number of units of electricity produced by the power grid.
Home DIY Solar Panel Guide
Are you planning to make your own solar panel for your home solar power system? If you are, be sure to check out the Green DIY Energy program.
The program was specially created to teach you step by step how to construct a solar array on a shoestring budget. The instructions are in PDF files and also High Definition (HD) video recordings. Click on the link below and visit GreenDIYEnergy download page right now.