Solar Power: Expensive, But Worth It


You may have noticed that over recent years, more and more companies are springing up and advertising solar panels. This, in turn, has lead to more people installing solar panels on their homes – so you may be wondering if this is the move for you.

Having solar panels fitted to your roof is expensive, no doubt about it. The installation varies from $4000 to $60,000. The difference depends on the size of your house, your requirements from the panels themselves and how much electricity you are hoping to generate. In basic terms, the larger the panels and the more you want – the bigger your bill, though even a basic system can be tough on the wallet.

Firstly, most solar panel installation companies will offer some form of credit – perhaps even ‘buy now pay later’ type deals, which allow you to suspend repayments for a year or more. Almost all will offer a traditional credit scheme, where you have the panels installed and then pay them off. This is one of the most expensive ways to get solar panels installed, as you will be charged for the credit, but nevertheless it is an option.

The best way option for most is to save a dedicated fund for their solar panels. Using the old school system of putting a little money by each week, many households can afford solar panels within a couple of years without having to pay credit purchase rates.

Whichever way you choose to do it, solar panels are expensive. There isn’t any way of getting around that, though as the technology improves prices should fall. It is always worth remember, however, that solar power is beneficial both to your wallet in the long run, and to the environment.

Comments

  1. This is a somewhat old fashioned view of how to pay for these systems. The tariff system that many states and countries offer can in large part offset the cost of procurement rendering the investment to virtually ZERO. But not everywhere. In addition there is a strong debate about the necessity for governments to invest heavily in solar and wind power due to the age old arguement of “does climate change really exist”. Those who deny that climate change is reality are outraged at some government investments into renewable energy. It is seen as a waste of money. What do you think?

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