There are many factors to consider when calculating your return on investment with solar panels. A small solar panel could cost a few hundred dollars and significantly counterbalance the cost of heating a consumptive unit like a hot tub. On the other hand, it can take a while to recoup the costs of a full-home system. However, when you consider the rising costs of mainstream electrical power, it’s easy to see the benefits a solar-powered system can offer. Alex agrees, explaining, “Most people don't know that utility rates have increased 45% in three years here in Oregon, and those increases are expected to continue. Payback on solar is generally 5-10 years, and the investment on cash flow outperforms the stock market.” HOW MUCH MONEY WILL I SAVE?
HOW EFFICIENT IS SOLAR ENERGY?
A solar panel isn’t a funnel. In other words, everything that is collected isn’t funneled into energy. In reality, an average of 15-20% of the energy collected is converted into energy, but those efficiency numbers are climbing with each new technological advancement. Plus, remember every watt is collected using a clean method that doesn’t pollute the environment or show up on your electric bill.
DO SOLAR PANELS NEED FULL SUN?
Yes and no. While they will still operate in partly sunny conditions, you’ll want your solar panels to have optimal sun exposure. In addition to tilting or turning your solar panels towards sunlight, you’ll want to avoid shading your solar panels. That’s why it’s essential to evaluate the surrounding area before installing them. Watch for tall trees, surrounding buildings, rooftop dishes or AC units, chimneys, etc. that can unintentionally throw shade on your units. We asked Alex how much sunlight a house needs in order to maximize the use of solar and he said, “Not much. Technology has really taken this into consideration. Low light, clouds, and rain can still produce energy. We take solar production into account on an annual basis when evaluating the overall production to take advantage of net metering. Places located in extremely north or south locations can be problematic for payback, but can still produce.”
TYPES OF SOLAR PANELS
There are two primary types of solar panels and the difference comes from the quality of the crystalline silicon photovoltaic cells. The first is called monocrystalline. They are typically more expensive, yet also more efficient. The second is called polycrystalline. These solar panels are less expensive and, you guessed it, less efficient. Each type has its pros and cons, so it’s important to talk with an industry professional to understand the characteristics of each new generation of panels. Consider the difference in price, and also output potential, before making your choice. Alex highlighted this point saying, “Quality outweighs price. Much like a Toyota and a geo metro can get you to the same destination, but how many times? Electrical design, maximizing efficiency through voltage drop and equipment round trip effectively make a long term impact on solar’s payback.”
21 September 2024 October 2024
Powered by FlippingBook