Most US citizens have the misconception that the cost of installing solar panels can reach up to $40,000 initially and so this idea stops them from shifting into a more renewable source of energy. In the future, oil wells will dry up and there will be more drilling projects to obtain oil, which will increase oil prices therefore electric bills will also increase. If people will not look for other sources of renewable energy, there will be a time where the most expensive commodity will be energy.
Solar panel installation costs, contrary to popular belief can be cheap in the long run. Yes, there is a high initial investment but after five to ten years, profits can be realized immediately. Also the government; federal and local are imposing tax incentives as a way of minimizing solar panel installation cost. This tax incentive lessens the initial cost of installing solar panel up to $9,000 to $10,000. And if for example the cost of solar panel is 25,000, deduct the tax incentive, then the total cost of installing solar panel is just $14,000. With this, a house can generate 6,600 kilowatt of energy per year and after five years he can recover the costs already while having a sustainable source of energy.
Misconception about Solar panel installation costs affects not only the people but also the environment. Today, people have to make green decisions to have their part in taking care of the environment, and solar power installation is a great way to start. Nowadays, there are many options available for solar panel installation they can choose a cheaper yet efficient type of solar panels, and they can choose to install it themselves to lower the costs. Also there are companies that offer loan and even invest on the solar panels to be mounted on a person’s home. In return she just has to pay a fixed amount of money to the company for 20 years.
Solar panel installation costs can also include permit fees, insurance and maintenance costs. Solar panels come with a 25 year warranty most especially the mono-crystalline solar panels and the poly-silicon solar panels. Solar panels are created to withstand intense weather and temperature, but it is still better to insure them as part of the house since it is an expensive investment. Accidents happen and there is no saying when it will come. Solar panels also need regular maintenance like any other equipment so that it can function well and last longer.
Solar panels installation has a lot of benefits, first it reduces electricity bills. Second, government has a feed in tariff where in the government pays the amount of energy produced in a household whether it is used or not, though some restrictions may apply. Third benefit is when a household produces more energy than needed; the energy can be sold back to the grid which can be a source of extra income. Lastly, Solar energy is renewable and cuts carbon footprint, an average solar panel system can save a ton of carbon per year.