What ROI Can You Expect From Your Residential Solar System?

putting on solar panels

Many people would agree that it is a throwaway world today. Mobile phones, electronic gadgets, laptops are all high-tech, well-designed expensive and sophisticated. Electronic devices usually last for a few years before you want to replace them. Solar panels can be regarded as an exception to this rule.

There are also people who love to change their cars after a few years and go for better ones. Tech companies come out with the latest and greatest gadgets well before you need a new one. With many electronic devices, you do not see a return on your investment. However, this is not the case with solar. Many people invest in solar because of the guaranteed return on investment (ROI).

DURABILITY MAKES THEM COST-EFFECTIVE

25 year warrantyOnce installed, they last for a long time, over 25 years. Unlike the electronic gadgets, they do not have fans, pumps, flywheels, intricate motherboards or digital processors. So, there is hardly any moving component that can wear out or break. As such, solar panels need very little maintenance. The panel’s components are durable and have a solar cell, usually made of silicon and a glass-protected, which can trap sunlight. A panel sits in a single place while absorbing the sun’s rays.

Though after three decades of installations, your solar panels won’t be as efficient as they were on the first day. Their output is still amazing as compared to any other product. The performance of the solar panels declines about only 0.5 percent. This negligible loss occurs due to its exposure to the water vapor over time as well as fluctuations in temperatures that affect the materials and the coatings. But even so, solar panels are as high as 86 percent efficient even after being used for three decades. So, it is understood that the return on investment from the installation of solar panels is quite high. Plus, companies like SunPower guarantees their solar panels will produce a certain amount of energy for 25 years and will replace your panels if they don’t produce the expected amount of energy.

THE INVERTER’S LIFETIME

The solar panels constitute a special component, which is called an inverter. The role of the inverter is to extract the electricity a solar panel uses and convert the same to power thereafter so that it can be consumed in the households. Even though inverters have airings and some parts inside them, even they are quite durable and there are some that can function well for over 14 years.

Solar panels may last longer than the time you want to spend at your homes. But it is easy to transfer the agreement terms and warranty to the next owner who will own your solar house in case you make up your mind to sell the house.

chart of 9 year solar

BENEFITS OF INSTALLING SOLAR PANELS

  • Investing in installing a solar panel for your residential property can be an extremely lucrative and safe one. When you install solar panels in your home, you can enjoy the following benefits.
    You can enjoy low electricity bills for several decades. You get your ROI pretty fast as within just few years; the cumulative savings you make on a monthly basis will be more than what you had to pay for the installation.
  • Another big benefit is that the carbon footprint becomes much smaller. After all, it is really priceless to live in a cleaner and greener planet.

The return on investment is high since the solar panels are designed simply and are manufactured from high-quality materials. If the solar panels are manufactured using crystalline silicon and are covered by durable glass, they will definitely last you for several years to come. Not only are they feasible because they produce electricity using non-fossil fuel but also because they can withstand tough conditions.

Interested to see exactly what your home or business’s ROI would be? Learn more by signing up here for an energy evaluation.

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