Each solar panel manufacturer in town will tell you the benefits. Nothing tells you as much about a solar panel investment as a self-assessment. We will put the “go green” idea aside for this post and look at solar energy investment.
Solar Energy: Is it worth the investment?
This is a very simple thing to do. Remember that electricity costs will continue to rise. Solar panels can help you to reduce or even eliminate your electricity bill.
We would say that it is worth the effort.
Solar Energy is a financial investment that you will not regret.
Here’s why solar power is an excellent investment for both the short and long term.
Electricity bills can be reduced in the short term.
Solar energy systems will immediately reduce your electricity bill. Rooftop systems can help homeowners save up to 70% on their monthly electricity bills. As an example, If your monthly statement comes to Rs. 7,900 and you save Rs. 4,900, then what else can you ask?
Even if the savings percentage is reversed to 30%, you will still save a lot on your monthly energy costs. Even small savings can add up to a lot of money in the end.
You can save money over the long term by paying off your solar loan
You probably took out a loan or a subsidy to buy solar panels. You may be wondering how you can save money if you have to pay monthly installments on your loan.
You saved Rs 4,900 on your monthly bill. You would have paid this amount anyway, even if you didn’t buy solar panels. Why not subtract that amount from your EMI? It seems that you will be able to repay the solar loans very easily.
It looks like everyone is going to win.
Solar panels: a little help when buying them
Here are a few things you should consider before buying solar panels.
First, determine your energy requirements so you don’t end up purchasing too many or too few solar panels. You can use this free tool – Solarizer, to calculate the solar energy needs for your home.
Buy quality solar panels. It will cost more to buy a high-quality solar panel, but you will get more power. A high-quality solar panel will also last longer, meaning it is more durable. Up to 25 years of use!