One thing I always seem to question is are Solar Panels worth it. You can spend tens of thousands covering your home in them, but bills seem very low in comparison. But now electricity has shot up in price, solar looks to be worth it’s weight in gold, so we will explore the considerations around solar below.
Whether or not solar panels are worth it depends on a variety of factors, including your location, electricity usage, and the cost of electricity in your area. Here are some key considerations to keep in mind when deciding whether or not to invest in solar panels:
Location – Solar panels are most effective in areas with a lot of sunlight, such as sunny states like California, Arizona, and Florida. If you live in an area with less sunshine, solar panels may still be a viable option, but they may be less efficient and take longer to pay off.
Electricity usage – The more electricity you use, the more money you can potentially save by installing solar panels. If you have a high electricity bill, solar panels may be a worthwhile investment.
Cost of electricity – If electricity is expensive in your area, you may be able to save more money with solar panels. Look into the cost of electricity in your area and compare it to the cost of solar panels to see if it makes financial sense for you.
Upfront cost – Solar panels can be expensive to install upfront, but the cost has been decreasing over the years. You’ll need to factor in the cost of installation, as well as any permits or other fees associated with the installation.
Incentives – Many states and local governments offer incentives and tax credits for installing solar panels, which can help offset the cost. Look into what incentives are available in your area.
Overall, solar panels can be a worthwhile investment if you live in a sunny area with high electricity costs and use a lot of electricity. They can help you save money on your electricity bill over the long term, and may even increase the value of your home. However, it’s important to do your research and calculate the costs and potential savings before making a decision.
Other Ways to Generate Electricity At Home
There are many other ways to generate electricity at home if you can’t source solar panels, these include wind turbines (if you are in a wind-heavy area), hydro systems if you are by a river, biomass systems to use organic matter, or exercise bikes to power generators up.
It’s important to note that those systems do require upfront costs for installation and maintenance, and some might not be feasible for your home if you live in a wind pocket without a river nearby etc.
If you are after generating electricity from home, seek out your local supplier and ask them about their recommendations for you.
Personally I love the bike idea, if you and your kids cycled for an hour each morning, not only would you see huge health benefits but you would probably save 1/4 of your daily electricity expense too.