Are Solar Panels Cost Effective?

Are Solar Panels Cost Effective

A number of issues are involved in answering the question of whether solar panels are cost effective. Solaron wants our customers in the Sacramento and Bay Area to be aware of certain situations that determine just how beneficial solar panels will be to your bottom line. The cost of solar panels compared to the value of the electricity they produce continues to drop over time, but is that enough to make photovoltaic energy production worthwhile for your property?

It’s Partly About the Cost

Prices for a SunPower solar electricity system vary based on size and model. You will receive a full explanation of all costs when we provide you with an estimate. You can then take that information and compare it to the following facts.

Energy prices are currently going up faster than the rate of inflation. So the chunk that your electrical bill represents out of your household income is going to go up over time. Solar panels are a one-time purchase with a steady cost, and in effect they subsidize or eliminate the electrical part of your utility bill.

Factors that Contribute to Value

The size of your family is a direct indicator of how much electricity your house is likely to consume, both due to size of the home and each individual’s usage of electrical power. The larger your family, the more likely you are to benefit from solar panels.

Do you own an electric car? Battery-powered vehicles and solar panels are a match powered by the heavens! Your automobile acts as a depository of excess power you don’t use, storing it for transportation later. Installing solar panels significantly increases your “miles per gallon,” because it reduces the cost of charging your vehicle.

How much is your utility bill and who provides your electricity now? Obviously, some providers charge more than others. Also, solar incentives are sometimes available from the various power companies. Our technicians are aware of the value of these incentives and, based on your present and future costs, can determine at what point you would do better than “break even” on your investment in solar. Armed with this number, you can decide how much of an advantage your solar panels will produce for your budget.

The Environmental Factor

Solaron does have customers that are not concerned about the monetary benefits of photovoltaics. They receive satisfaction simply from knowing that their investment provides power using clean energy. This intrinsic value from installing solar panels should not be minimized and is often a factor in a household’s decision to proceed with a solar installation.

Of course, based on your individual circumstances, there are possibly other advantages that you can explore with one of our Solaron technicians. To sign up for a free home energy analysis and solar estimate, contact us online or on the phone at 916-631-9293. Find out for yourself about the cost effectiveness of solar panels made by SunPower and installed by Solaron.

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