Solar energy: impact on your life and your finances

Shifting to solar energy comes its costs.   Although the energy that comes from the sun is free of charge, but when it comes to technology and its installation you have to pay for it. There are some people who doubt for the impact of solar power technology in our environment. Yes, there are financial costs when you turn to solar energy, and yes it does have an impact on our environment and on our life, but this are all outweighed by the potential benefits that come from using it instead of conventional energy sources. Just try to ponder this question: “What will it cost me if I don’t switch to solar energy?” With the present environmental, health, and economic problems we have that are related to using conventional power sources, perhaps the costs we may spend on making the switch doesn’t seem so bad after all.

Well, what are some of the costs in making the switch to solar energy? Here are some of them, but see how the benefits balance them out:

  • Financial Costs- Buying and installing solar panels and inverters has price of about $10 to $12 a watt installed and $ 700- $20,000 in market price. Buying and installing solar water heaters is about $50,000. Luckily, that is all you need to pay for. You can minimize 50% to 100% of your power bills and save money if your system works well. To help you recover the expenses you made in using solar energy, you can sell to power companies the excess of your voltage if your solar panels are highly efficient and can generate more than enough electricity for your needs. The market price and installment fees can be minimized if you apply for grants and incentives from the government. The price, by the way, decreases year after year because solar power technology constantly improves over time.
  • Environmental Impact – Waste or pollution is generated very minimal in manufacturing and transporting solar panels, thus, some minerals have to be mined first to make them. In the process electricity is consumed as well. That is for the short term. For the long term, once everyone has made the shift to solar energy and renewable power sources, we can eliminate many environmental problems that already exist at present. For one, solar power generation emits no pollution and is free, unlike fossil fuels which produce toxins or greenhouse gases and whose market price is rapidly rising. Solar energy is also readily available and has no need for mining or refining as in the case of oil or nuclear fuel.
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