All around the world people are being hit by the rapidly rising cost of living. For some, this makes it harder to make ends meet and how to cut down on monthly and yearly expenses welcomed with open arms.
There are a number of factors you need to consider when buying solar panels for your home to find out whether they will prove to be a solid investment. If you are looking for residential solar panel system then you can explore https://solarmyhomewa.com.au/services/residential-solar-power/.
Type of solar energy
There are a number of types of panels; the most common is the solar PV and solar heating. The difference is that solar heating is used to directly heat the water supply of the property using the heat from the sun and solar PV uses solar energy to generate electricity for the residence. We will concentrate on two types of solar power in the assessment of costs and savings.
PV stands for photovoltaic, which means that when sunlight falls on the photovoltaic solar modules, a specific voltage is generated.
One major disadvantage of solar power comes from pure natural source of electricity – since the sun only shines during the day, this is the only time that electricity will be produced.
In addition, electricity cannot be stored it should be used when it is generated, which means that if there is no demand for electricity, it will be in vain.
How much do you need to invest?
Obviously, the cost of installation depends on the size of your installation, which itself is dependent on several things:
- The surface area of the roof suitable for solar panels.
- Your energy usage needs.
- Your Budget
You benefit from a greater value for money in larger systems due to economies of scale, but a large system can become very expensive very quickly. Be sure to get quotes from various installers though, because prices can vary quite widely.