Solar panels take advantage of nature. They take sunlight as a major source to generate electricity. Sunlight is free of cost and it is very helpful to utilize sunlight and create power backup for your homes and buildings. Installation of solar panels can help in the reduction of usage of other resources which consume fuel and carbon. Solar panels are considered to be very environmentally friendly as well.
If you are a homeowner, then there must be many things in your mind that you want to improve about your house to increase its value. For example, if electricity bills of your house are high, then you must think about installing solar panels in your house. This would be a decision that you will never regret in your life. A solar panel is indeed a great investment that will pay back you very well in the long run. That is why it is now considered to install solar panels at your home to increase your property value. Let’s discuss some types of solar panels and systems to get insight knowledge about this useful technology.
Types of Solar Panels and Solar Systems
Types of Solar Panels
There are two types of solar panels more widely available in the market right now. One is known as monocrystalline and the other is known as polycrystalline. According to research and surveys, both types work nearly the same. Monocrystalline panels come first in the market and polycrystalline panels are in more use today. Silicon solar panels are another form. They’re the most efficient. 18-22% is their efficiency.
Thin-film solar panels are another form. They’re cheaper than others, but less effective.. Their efficiency ranges from 11% to 13%.
Types of Solar Systems
When you decide to install solar systems at your place, then you will have two options. One is known as an on grid system, while the other is known as an off grid system.
On-grid System: In this type of solar system, you sell back extra energy that your solar system produces than you need. For example, the consumption of your house is 300 units but your solar system produces 400 units, and then the extra 100 units can be sold back to the grid. This saves money. This system has no batteries, decreasing its cost.
Off-grid System: In an off-grid system, you need batteries to store the energy. In the day time you can take energy from the sun directly, but what will you do at night time? Therefore, to save you money at night as well, you need to connect batteries with your off-grid solar system.
Cost of a Solar System
In the recent past when solar systems were a whole new concept for many people, they were a bit expensive. However, with the growth in its popularity and more people accepting the solar systems with every passing day, the prices are gradually decreasing.
With the prices even dropping or going down, the cost of a solar system you want to install at your place is dependent on the size and capacity of a system that you require, and your location as well. Some regions and countries give special discounts and tax reduction options on the purchase of solar systems, thus reducing the overall cost.
In general, a 2-kilowatt system will be enough for the energy requirements of an average sized house. This system will cost around $16000-$20000.
Maintenance of a Solar System
A very beneficial feature of a solar system is that it requires very less maintenance. If you take care of your system, do general cleaning after every few weeks and do a proper service once every year, then a solar system will easily run as long as 15 to 20 years without having any major failure or damage. The servicing cost ranges from $150-$300.
Impact of Solar Systems on Property Value
According to a research survey, the value of a house increases by $20 every year for every $1 reduction in your utility bills. For example, if a solar system can save $400 annually on utility bills, the value of a house will be increased by $8000.
In another study however, we see a negative impact as well. Many people who are going to buy a house, think of the solar system as an extra burden and not a utility. Still there are many people who do not understand the benefits of solar systems completely. This is however a matter of everyone’s perspective.
The increase in popularity and demand of solar panels with every passing day will however make it an attractive object for home buyers. Ultimately there will be a positive impact on the value of property having a solar system installed.
With the ever-increasing demand of electricity, it has now become a more sensible option for everyone to go solar. This system comes with 2 pros, one’s that its environment friendly and the other includes the budget friendliness.