rec Solar Panel for Homes Can Help Save Money

Solar Panel for Homes Can Help Save Money

The rise in electrical prices is incredibly frustrating, causing many people to cut their electrical consumption. Solar power can help cut your electric bills for you and save you money.

High electrical hikes

Due to the high demand of electricity, it is estimated that the price of electricity will have a 37 percent increase by the year 2014. Another reason for the price hike is the cost of maintenance and upgrades to the system and power distribution equipment. Even with the abundance of natural gas and coal as well as the use of current technology to build highly efficient power generators, there is a lack of government policy and regulation to keep the electrical prices from rising.

High electrical bills will affect everyone as they will need to deduct their monthly income to cover the charges. The money used to pay for the additional charges can purchase different kinds of items or services. It can be used to purchase recreational appliances including a LED TV or household appliances like a new dishwasher. For businesses, the money can be used to upgrade the office equipment or pay for their employees’ performance training seminars.

Solar Panels

The use of solar panels is a rising trend for homes and even for business owners, with the promise of becoming the main electrical source of the house or office. Solar power comes from the sunlight which is captured by solar panels. These solar panels are installed onto a certain area where sunlight is abundant like the roof of a house. Solar panels are made of photovoltaic cells or PV cells, which are the same material found in most electronic device and gadgets today including mobile phones. The sunlight enters the panel through the top layer of PV cells where the light’s electrons are separated. This action creates a charge within the metal of the cell base. The electrical power is sent and stored within a battery.

How can solar power save money?

Basically, sunlight is an abundant power source unlike fuel consuming generators. Using this as an alternative power source than electrical companies or gas generators will cost nothing. Realistically though, solar panels are only able to capture about 33 per cent of the sun’s rays and can generate a small amount of electricity. Therefore, to be able to fully replace the electrical company as the main source of electricity, you require a large number of solar panel and batteries. Usage of the solar panels however can minimise the need for electricity from power plant factories which can lower the monthly electrical bills.

Purchasing and installing solar panels as well as its batteries can be expensive as it can cost thousands of dollars but it is well worth it due to the amount of savings that you can get. You can avail of a government incentive to receive a discount in solar power installation prices.