Are Solar Panels Worth it? Use this guide to find out!

Solar panels are becoming increasingly popular as a way to generate electricity, but are they worth the investment?

As more people become aware of the impact our growing consumption of energy has on the environment (and wallets!), solar panels are becoming an increasingly popular sustainable energy solution.

In this blog post, we'll take a closer look at why solar panels are on the rise and discuss all aspects, from installation to costs and benefits. Finally, we'll help you decide if investing in solar panels is worth it for your home or business.

Why are solar panels becoming more popular?

Solar panels are becoming more popular for a number of enticing reasons. Solar panels can be used to power both homes and businesses, and their popularity is growing as people become more aware of the benefits they offer.

In many cases, solar panels can provide all of the energy a home or business needs. So why are so many people making the jump to solar power?

Firstly, they are a clean source of energy that does not produce emissions. As we look towards sustainable ways to produce energy without contributing to climate change further, solar panels provide a much-needed solution.

Secondly, they are relatively easy to install and maintain, with the average solar panel setup lasting 25 – 30 years. Not bad, especially when you consider the fact that the average lifespan of a boiler is only 10 – 15 years!

Finally, and most relevantly in the middle of the current energy cost crisis, they can provide significant savings on energy costs. Depending on how many panels and how much sun your house gets daily, you may even be able to zero your energy bills with solar panels alone.

In fact, famous YouTuber and tech expert Marques Brownlee recently put out a tweet where he highlighted his journey installing his solar panels and went from high energy costs to having no costs and plenty of energy in reserves. And it only took two months to achieve a zero-dollar energy bill!

Solar panels are investments that pay for themselves over time, and they offer a number of environmental benefits. With solar panels becoming more affordable and efficient, there has never been a better time to switch to this clean energy source.

If you’re considering solar panels, don’t forget the sun of it all

With so many incredible and powerful benefits, it’s likely you’re feeling excited and empowered to go out and start your solar panel journey.

Not so fast.

There are a few things you have to consider which can impact whether solar panels will work for you – each of which we’ll go into in depth.

The first is probably the most obvious, but one that some people overlook – how much sun does your home get?

This has two meanings – firstly, is your home positioned in its location to maximize sunlight exposure? And secondly, does the country or city you live in get plenty of sunlight?

Think about it, if you live in Iceland, for example, in the winter there’s only one hour of sun a day, which would make having solar panels pointless in winter.

To determine if your area gets enough sunlight to consider installing solar panels, you’ll have to do some research into solar maps. This map by Global Solar Atlas is a good starting place.

You’ll also need to consider your immediate surroundings. Do you have tall buildings, trees, or chimneys surrounding your home, reducing your house’s access to direct sunlight? This can cause significant disruption to the amount of energy your solar panels can create.

Understanding the process and costs of solar panel installation

Sun exposure aside, the biggest barrier to accessing solar panels is cost and installation.

It’s no secret that solar panels and correct installation are expensive. It’s a significant upfront cost and not one that every family or individual can afford. According to Forbes, the average cost of solar panel installation in the US is $16,000 (or between $3,500 and $35,000 depending on the type and model).

It’s vital you make realistic predictions on how many solar panels you need as it will greatly affect your wallet.

Some people find it to be a tricky calculation to work out how much solar panels would cost them and how many they would need, so let’s break it down into easy chunks.

First things first, you need to work out how much energy you actually use. You can do this easily by checking your latest energy bill. Take the energy used and divide it by the number of days in the cycle – that’s your average daily energy needs.

You’ve already checked sun exposure in your area (if you haven’t, refer to the map linked in the section above).

The final piece of information you need to calculate how many panels you need is the kW output of the potential solar panels you’re looking to install. Most solar panels come in 250W – 500W variations, and how many you need will depend largely on this.

The calculation:

Ok, now that you know:

• How much your daily energy needs are
• How many hours of sun exposure your house typically gets
• The kW potential of the solar panels you want

The final thing you need to work out is how much of your energy you want to be covered by solar panels. Are you looking for 100% coverage? 50%? Remember, the more energy you want to derive from solar panels, the more panels you’ll need.

It’s time to work out how many panels you need.

The calculation is:

Number of solar panels = percentage of energy you want to cover x daily energy need / (hours of expected average sunlight x kW potential of solar panel)

Let’s put this into practice.

Imagine your research has found the following:

Energy coverage I want = 100% (represented as the number 1) Daily energy need: = 5kW Sunlight exposure = 6 hours Solar panel potential = 300W (represented as 0.300kW)

My calculation would be:

1 x 5 kW / (6 hours x 0.300 kW) = 2.78 panels (round up to 3)

You’ll want to add an extra panel or two as a contingency plan, too.

Are solar panels worth it?

The truth is, the answer will be different for everyone. The rising costs of energy make solar panels an attractive prospect, not to mention the environmental benefits.

But that alone isn’t enough to make solar panels a good option for everyone.

You’ll have to ask yourself some serious questions about whether solar panels will work in your home:

• Do you get enough sun exposure?
• Can you afford the significant upfront costs?
• Will solar panels be able to power your home in the way you want them to?
• Do you own your property? (If you don’t, you’ll need permission from the homeowner first)

Solar panels are great, and for those who can afford them, a brilliant option for saving money and the environment.

But make sure the solar panel life fits your own before making this big, life-changing decision.

Here at Yenex, we’re committed to helping individuals just like you explore their options when it comes to renewable energy. If you want to explore how solar energy will benefit you and your home, feel free to reach out.