With a small investment, a single solar panel can be built in order to supplement utility company electricity.
Although the cost for a photovoltaic PV system will depend on the size of the system you intend to install, your electricity rate, the amount of kilowatt hours you expect to generate, and the state/local rebates/tax credits that may be available, the formulas for calculating the returns are pretty much the same.
You cannot store conventional power but you can store solar power for future use. The sun’s energy comes to rescue even in the times of darkness! Storing it also ensures a 24x7 supply of power, thus saving you from any power outage.
Solar power is a modern form of energy production that’s renewable, clean and highly efficient.
Generators require fuel – a cost that is constantly increasing. Moving generator parts must be replaced from time to time due to wear and tear.
Given that efficiency of solar cells should increase and the costs will come down, it makes a lot of sense to get a solar panel for your home.
A common misconception about solar power is that it is only useful during the day, but because this power can be stored, this solar energy can be used in homes even on cloudy days or at night.
Many states and local jurisdictions offer rebates, tax credits and other types of incentives to homeowners for installing residential photovoltaic and solar domestic water systems.
These days the use of solar power panels to generate electricity is gaining in popularity. This is especially so for businesses. However, the residential market is also warming up to solar.
Solar panels are often warranted to maintain 80% of their efficiency for up to 25 years. Other parts will need to be replaced sooner, but if all goes well there should be no maintenance costs at all for the first five years.