Solar energy is making a mark as a vital source of renewable energy. Although the initial investment cost is more, with the development of technology the cost factor is declining. The cost factor is going to decrease further than that of energy generated from coal or other fossil fuels. However, there is a myth prevailing in the world about the generation of solar energy and it is felt that electricity generation through fossil fuel is far cheaper and better than its solar counterpart.
The comparative figures indicate that summation of cost of raw material and overall expense of distribution is more or less equal to the solar system. Whether it is the cost of coal, generation through wind energy or combined gas power plants, the solar system is proving to be cost competitive in the coming days.
Why solar system is popular?
The trend to switch to solar power is gaining importance because of varied reasons. Here are few reasons why people whether it is at home or commercial premises are motivated for solar power.
The important reason is to benefit the overall environment. The solar power does not produce harmful emissions unlike conventional power thereby protecting the ozone layer and climatic conditions.
- Solid Investment:
You might purchase lot of expensive equipment for home improvement but amongst them the solar system is much more beneficial as it adds value to the home. It is considered as investment and increases the valuation of your home.
Since there are no moving parts in the solar panels, the system does not get damaged easily and this increases durability and life span of the system. The system works longer with frequent servicing or interruptions.
- Money Saver:
In most cases, the solar company will tie-up with the electricity company for credit transfer of electricity generated. The excess electricity can be transferred back to the grid and utilized during shortages. This can save you the electricity cost as well as generate extra income if the generation of solar power is in excess to your demand.
There is a myth prevailing that solar energy can be used only during daytime and not during nights or power shortages. However, you can generate solar energy during daytime when you have very less demand and use it during night-time by either storing using batteries or transferring back to the grid.
- Stay ahead:
The future trend of energy is renewable and going green. Solar system is the best alternative and keeps you ahead of the rest in technological implementation.
- Fixed energy cost:
The price of every utility increases over a period of time and has upward trend. However, with solar power your energy cost is fixed since the initial investment is already done. The returns are bound to come over a period of time. This helps you in your financial planning too. Investing in solar system is just like bowing the seeds to reap the benefits in future.
- Rebates and subsidies:
In order to encourage solar power and cut down the dependency on non-renewable sources, many states are providing rebates and subsidies. This helps you lowering your initial investment and contributing towards the economy of the state.
Thus, you will not only beautify your home, but give a value addition to the property by getting the solar system installed. It is seen as investment option, which might earn you an extra source of income if right system is selected and implemented.