Investing in Solar Panels

Solar panels are considered to be a wise investment today, because with the ever growing problems in energy and climate change, installing one at your home is not merely participating in the cumulative solution but also benefiting yourself.

Being a source of renewable energy solar panels will continuously produce electricity for you over their 20+ years of lifespan if conditions are right. The efficiency of solar systems has been improved to record highs and a well-designed mid-size one is sufficient to supply the energy needs of an average Australian household.

 Though some are claiming that the optimum achievable efficiency for solar panels is still some way off, the current technology is sufficient to keep your home self-sustaining, affordable enough to pay for itself within 4-7 years, and you may never again be at the mercy of skyrocketing power bills!

The solar manufacturers are aware though that while our energy consumption is constant, solar energy production can only occur during the day, andthe output varies depending on the time of the day and your location. That is the reason why many systems are designed to either store electricity, or to be able to export the excess that you generate back during the day back into the electricity grid & then buy some of it back at night. Storing power takes place in the form of batteries, while exporting it needs to be done in conjunction with your local electricity grid provider with the aid of a Smart Meter to keep track.

Most western nations, including Australia have legislated laws pertaining to the said exporting as it won’t be possible without one. The scheme allows you directly tap on the state grid to send whatever electricity produced in excess of what you need. Either way, it is beneficial on your side.

As proof to the said benefits of making the switch to solar, some of the largest corporate names are investing in solar panels to power their businesses…..Facebook, the largest social networking site today, has installed the system in its data center in an attempt to cut down electricity costs as well as to play their part in carbon reduction. Not to be outdone Google is also doing their part; it is said that Google will install a 1.6 megawatt system on its Googleplex building on Mountain View to offset the facilities massive energy consumption by about 30%.

Aside from these high profile wealthy companies, many government offices and institutions are also installing solar PV’s to power their offices. Statistics shows that the solar industry is booming, and that more and more large scale projects and installations are on their way. This proves that the system can work effectively and be economically viable, as it had been promised.

While we need to rely on Governments and industries to do their part, every one of us can make a real difference, and investing in a home solar system yourself is both practical and noble. Practical in the sense that you can reduce your electric bills significantly and noble since you are doing your social responsibility and helping to ensure that we can leave a better world for our children.