Is Solar Energy Cheaper Than Electricity?

With the recent increase in oil prices and the constant fluctuation of the sun’s output, many people are rethinking their stance on solar power. The cost of electricity has increased so much that some believe that solar is now a viable alternative to traditional sources of energy.

In the past few years, solar power has taken the planet by storm. The industry grew by 28% in 2018 alone, and many major corporations see the future in renewables. In 2012, only 0.7% of the American energy market was made up of solar power. Now, it is estimated that around 3.9% of the country’s energy is generated by photovoltaic cells and modules.

For those wanting to make the switch, whether it be for environmental or cost-related reasons, this article will answer the question: Is solar energy cheaper than electricity?

The Cost Of Photovoltaic Equipment

To get started, let’s first take a quick look at the cost of photovoltaic equipment. Though the prices have come down in recent years, they are still rather high when compared to conventional sources of energy. In 2012, a typical 5 kW solar system with photovoltaic panels costed around $25,000. Nowadays, that same system would cost around $15,000. It’s still a significant investment. Furthermore, depending on where you live, the cost of solar equipment can vary significantly. In areas where the sun shines a lot, the cost is lower. However, if you are located in a cloudy area, the price can increase significantly.

The good news is that technology has made a significant advancement in the last few years, and newer models are proving to be much more affordable. If you want to learn more, here is a list of the most affordable solar powered vehicles you can get today.

Venting, Fixing, And Installing Solar Equipment

Even if you decide to purchase new equipment, you will still need to do some work to make sure it operates correctly. If you have never done any work with electrical appliances or devices, this can be rather tedious and frustrating. That is why many people shy away from solar energy and choose to stick with what they know.

That being said, it is still rather straightforward and can generally be done by anyone with some handyman skills. If you are tackling this project on your own, ensure that you have the proper tools and hire someone to help you. It can also be rather dangerous working with electricity so make sure that you are correctly protected.

Where Can I Buy Solar Equipment?

If you decide that solar energy is the right choice for you and would like to learn more, your next step is to determine where you can buy solar equipment. Though the cost is much lower than it was a couple of years ago, the demand is still rather high. So much so that many stores have reduced the prices to attract more customers.

As a general rule of thumb, it is always better to purchase from reputable brands and dealerships as it will ensure that you get the best possible quality at the lowest possible price. Though it can be rather difficult to find a trustworthy retailer, if you do manage to locate one it will pay off in the long run. Buying from a reputable brand also allows you to take advantage of their warranty should anything happen to your equipment.

The Savings On A Year Of Solar

Many people are completely unaware of how much money they can save by going solar. Though the initial investment is rather high, you will quickly recoup that money over time through reduced energy bills. In the long term, you can save thousands of dollars that would otherwise be spent on electricity each year. Not to mention the environmental benefits.

For those wanting to learn more, here is a quick overview of how much money they can save by going solar:

  • Reducing your electric bill by 75%
  • Keeping cool in the summer
  • Reducing your carbon footprint
  • Avoiding energy blackouts

Though there are many perks to solar power, it is still rather expensive when compared to traditional sources of energy. That being said, over time, the cost savings are clearly visible, and it is becoming a much more viable alternative.

Is Solar Energy Cheaper Than Electricity?

Overall, it is still rather expensive to purchase and run a solar system, regardless of whether you run it on your own or hire someone to do it for you. That being said, many people are seeing the light at the end of the tunnel, and more and more are choosing to go solar. Thanks to the falling costs and the widespread availability of quality models.

If you decide that renewable energy is the right choice for you, you can use the above information to help you decide whether or not to invest in solar power. In most cases, the savings will be well worth it. Though the initial investment is rather high, you will quickly recoup that money through reduced energy bills. Not to mention the environmental benefits.

For those wanting to learn more, here are some of the best solar powered cars you can buy today.

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