Cut Your Bills and Boost Your Finances with Home Solar Installation

Posted by Lumina Solar on Feb 16, 2021 11:16:33 AM
Lumina Solar

EAE4909392DBE368834FEC003A974961If you're thinking about taking a plunge into solar energy, it's never been a better time. Prices of solar panels have dropped by more than half in the past decade and installation times are down nearly 90 percent.

And with the latest advances in solar technology, homeowners now have access to an income-generating asset that will pay for itself in short order.

Shortly, you’ll discover how all these adds up to the benefit of the average homeowner.

But first, here is...


How Solar Energy Works

Solar power is the conversion of sunlight into electricity using photovoltaics (PV),
Photovoltaic cells convert light into an electric current using the photovoltaic effect.


So, what happens if the sun isn’t out?

Even if the sky is overcast, PV still produces electricity. This is because PV cells in addition to sunlight can generate electricity using diffuse solar radiation i.e., light that has been scattered by dust and water particles in the atmosphere.

With that in mind, it is strongly recommended that homeowners determine the PV electricity generation potential for a particular site to get the best result. This is not a big deal: a reliable solar installer can help you assess the average annual total solar energy received without fuss.


The Benefits of Using Solar Energy

Many homeowners are looking for ways to save money. There are a lot of ways to do this, but one of the most effective and sustainable is by investing in solar energy.

With the latest advances in solar technology, homeowners have access to an income-generating asset that will pay for itself in short order.

Here are some ways solar panels can help your finances:


Save heating costs with solar thermal energy.

Around 90 percent of household energy consumption is used for hot water and heating.

With photovoltaic systems, the sun's rays are converted into electricity, or through thermal solar systems, which are used to generate hot water for bathing, showering or cleaning, or to support heating.

 

Saves you money on your electric bill.

The solar energy generated from the panels is first used by the house's electricity consumers and thus displaces the electricity that would otherwise have been purchased from the electricity trading company.

The homeowner thus becomes a micro-producer and sells surplus electricity to the electricity trading company with a profit.

The feeling of becoming less dependent on the electricity companies is nice. Knowing that you actually produce your own electricity and that you use 100 percent locally produced and environmentally friendly energy is fantastic.


Provides Tax Credits and Rebates for Using Alternative Energy Sources

With recent government policies to encourage the use of alternative energy sources, homeowners can now claim tax credits and rebates. Example, the federal residential solar energy credit is a tax credit that can be claimed on federal income taxes for a percentage of the cost of a solar photovoltaic (PV) system.

 

Takeaway:

The sun provides a free, clean, renewable source of energy so every time you use solar, you're doing something good for the planet. While generating your own energy from the sun, you are doing something good for today and the future - helping to provide the foundation for a healthier planet and people.

Solar panels are a great way to not only save money, but also help the environment. The investment can pay off in just a few short years, so it's definitely worth looking into.

Topics: Solar Panels, Lumina Solar, Saving Money, Solar Power, Home Solar