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In a very real sense, there is no definite figure on how much one can save from equips his or home with a solar panel system. There are a lot of factors that need to be considered before one can fully calculate the financial savings a person could make after the installation of a solar panel system.
The purpose of this article is to give you a rational approximation of the savings that you can make should you decide to equip your home with solar panels. To determine your potential savings, all you have to do is the following:
- Study the trend of the energy prices. Take note of the factors that affect its rise and fall.
- Keep a journal of your household and business power consumption. Once you’ve gathered enough data, analyze it. Determine the days or months when your power consumption surges and the months when it decreases.
- Examine the location of your household and its relative position to the sun’s radiation. Also, study the weather pattern of your area. If you find this difficult, head to your town’s hydrology and meteorological office and ask the in-charge to let you access their rainfall and sun radiation data.
- Determine whether you’re buying your own solar panel system or you’ll just lease them from a firm.
If you manage to accomplish all of the things above then you will not have a hard time calculating your savings. Just to give you an idea, household and business surveys have actually yielded promising results. A lot of house and business owners claimed that they were able to reduce their power consumption bills from fifty percent to ninety percent. Just for clarification purposes, suppose that your monthly energy bill is around 600 dollars and if you do the math conservatively (like reducing your costs by ~50%), then you’ll end up paying US$300 dollars only. This means that you will be saving around more than US$3000 a year. Imagine, you can already use that for other investments.
There are also many American states that offer SRECs or Solar Renewable Energy Credits for those home and business owners who were able to equip their homes with solar panels. The amount of Solar Renewable Energy Credits that you can get is directly proportional to the amount of solar energy that your system is producing. So what’s the use of these solar energy credits? Well, you can exchange these credits for real money in an open market. You can read how much solar panels cost for a residential home.
With a functional solar panel system, home and business owners will also have the opportunity to upgrade their houses or establishments without gaining additional taxes. Besides the monetary benefits, you will also set a good example to other people and most importantly, you will be able to help Mother Nature in winning her battles. Having solar panels at home is definitely a game changer. The primary costs may drain your pocket for a while, but once you continue using it, the return of investment is definitely overwhelming and fulfilling.Why continue depleting the world’s resources when you can use solar panels.