Solar power is the cheapest source of free energy that we can use. In terms of growth and popularity, it has surpassed all other renewable resources including hydroelectric and wind which had dominated the energy sector previously.
The cost of solar power installation has thus reduced remarkably over the last decade allowing more and more people to have access to solar panels.
As many as 25 million homes already have a solar PV system and the number is expected to grow to 100 million by 2030 as reported by the International Energy Agency.
The demand for solar power is, therefore, at an all-time high, and for all the good reasons, thanks to technology!
Benefits of solar power
Solar power is the most abundant resource of energy on earth as you might well be aware of.
At present, we can extract and store its energy in two ways- electricity through photovoltaics and heat through thermal panels.
Out of the total sunlight absorbed by a typical PV module working at its maximum capacity, 20% of sunlight gets converted into electricity and the rest of the 80% into heat.
Solar panels, therefore, do not waste any sunlight they absorb and boast zero energy loss in the process.
Moreover, solar power can be used in a wide array of systems and applications such as water distillation, water heating, solar-powered vehicles, space exploration, and solar ventilation.
They do not emit any harmful radiations or carbon emissions either unlike the burning of non-renewable and rapidly depleting fossil fuels.
As far as the financial implications are concerned, installing a solar panel at your home can reduce your electricity bills by up to 90% with a guaranteed return on investment of about 18% well within the first 3 years.
Plus, there is little to no maintenance needed and zero noise pollution occurs when they operate and generate power.
All they need is some cleaning once in a while. And the repair/ replacement of the inverter after 5-10 years which may not even be required since most of the standard solar systems come with a lifelong warranty of 30 years or so.
Even after completing their supposed life cycle, most of the parts and materials used in making those parts such as aluminum, copper, glass, and 90%–97% of solar panel materials can be used for other purposes which makes them almost 100% recyclable.
And finally, installing solar PV at your home can also increase the resale value of your property by as much as about $15,000 or more. So it’s a long-term investment on any given day.
How much does it cost to install solar power?
Solar power is getting more and more efficient and affordable as we speak. The initial cost of solar equipment and installation, which is the only cost associated with it, has dropped significantly in the last decade with a massive reduction of about 80% in its net cost.
As a result, you can install a rooftop solar PV system for just $1 per watt, or $20,000 or less which is pretty competitive given the skyrocketing prices of gas, and coal, and the challenges associated with other renewable resources such as wind and water.
The cost of solar panels is further expected to decrease as the technologies involved in manufacturing them are constantly developed and getting smarter than ever. For instance, the machines involved in the extraction of rare earth metals that are used in the making of solar cells.
The good news is that the global net-zero carbon emission goal by 2050 has successfully pushed the agenda of solar technologies into the mainstream as a clean and green source of renewable energy.
Governments across the world are promoting new innovators and entrepreneurs to come up with sustainable and effective solutions for harnessing, storing, and using solar power in all kinds of spaces.
Speaking of it, two of the major challenges associated with the adoption of solar technology are space and the cost of storage.
While lack of space is a major hurdle for the utilization of solar power in commercial spaces and households, storage batteries itself can cost upwards of $5000 to begin with.
Then there is the cost of panels, wiring, inverter, and the installation itself which depends on the type of roof, space, and the number of panels. That is, the more the panels, the higher the cost.
All in all, the total cost of a standard residential solar system which was $50,000 or more just a decade ago rarely ever exceeds $20,000 nowadays, and the prices are further expected to decrease.
How to install solar power panels?
Solar panels can be installed by contacting a professional installer or you can DIY should you have the necessary tools and skills.
Regardless, before installing a rooftop solar, there are certain things you need to remember.
1. Foremost, an estimate of the total solar energy required to power your home.
To do that, start by checking your electricity consumption by carrying out an audit. A simple home energy audit will give you a clear picture of the total energy usage of all the appliances, and electronics, and the processes involved in keeping your home hot or cold under extreme weather conditions.
Reviewing your electricity bills is yet another way of determining your annual electricity needs.
Once you have that figured out, you might want to consider switching or replacing those old appliances that cause most of the tariff. By replacing them with newer energy-efficient appliances, you can reduce the total amount of solar energy you may have to produce to solarize your home.
Thus, keeping the number of solar panels needed to a bare minimum which is pretty essential should you have a lack of space.
It is also important to optimize the solar panels for those devices and appliances that consume more units at the highest tariff rate because installing them for only low tariff rates won’t make much of a financial difference.
Installing rooftop solar at your home, therefore, depends on the available space, the number of units consumed, and the highest tariff rate in your state that you are trying to replace by generating your free electricity.
2. The next step to consider before installing a solar system is assessing the potential solar energy that you can produce at your location.
Being a weather-dependent resource, the amount of solar energy a panel can produce is equally proportional to the amount of sunlight it can absorb.
Although solar power can still be generated on a rainy or cloudy day, as most PV systems can use both direct as well as scattered sunlight to create electricity, a lack of sunlight may still reduce the amount of solar energy that can be produced in a single day.
To find out your home’s solar energy potential, there are plenty of mapping services and tools that you can use. If not anything, these tools can show you whether your home is suitable for a solar plant or not.
For a more accurate picture though, you might want to get in touch with a professional solar provider or expert as they will check all the factors involved in installing a rooftop solar.
Some of the variables that play a rather crucial role in identifying your property for a solar set-up include:
- The regional climate.
- Any nearby trees and other barriers that could prevent the system from getting enough sunlight.
- Age, shape, position, and the condition of your roof.
- Local laws and community restrictions (if any).
Gathering all this information prior to getting on with the installation is pretty important if you want to choose the best option for using solar.
3. Choose your solar PV system
Once you have an estimate of your solar electricity needs and the potential solar energy that you can produce, comes the time to choose the type and size of the PV system that meets your solar demand.
To find the best possible solar system for your roof, start by searching for a licensed and qualified professional online. You might want to take help or recommendations from your friends or family too.
Although consulting with an expert would most probably tell you the exact size, you may still want to compare the price with multiple installers before finalizing a bid.
And don’t forget to run a thorough check on all the companies that you have picked.
Here are a few things worth checking:
- Company’s familiarity with local laws and permits.
- Registration, license, or certification.
- Any referrals or past clients that they can provide.
- Type and duration of the warranty.
- Any pending lawsuits or liens against the company.
Making sure that the installation firm is as legit as they come is something you cannot miss.
Additionally, your final quotation should consist of the following:
- Max capacity of the solar system measured in watts (W) or kilowatts (kW).
- The average amount of energy the system will produce monthly/ annually.
- Total cost of getting the system installed including the hardware, connection, tax, warranty, and so on.
Tip: Getting an estimate of the cost/W or cost/kW is the most important factor for comparing prices across different installers.
4. Options and alternatives to a rooftop solar
For someone who cannot afford to buy a complete solar system on their own, there are plenty of other ways and programs that you can use.
For instance,
- Purchasing a solar energy system.
- Investing in a shared or community solar.
- Leasing or renting a solar energy system.
- Hosting a solar system or plant owned by private companies and getting free electricity in return via a PPA or Power Purchase Agreement.
- Solarize programs allow a group of people and homeowners to buy solar equipment in bulk at a negotiated price or discount.
All these initiatives and more are perfect for those who don’t own a property but would like to purchase or rent a rooftop solar PV system anyway.
5. Look at all the available financing and incentive options
To be able to replace the conventional resources of energy with a cleaner and greener alternative, and reach the Net-zero carbon emission goal by 2050, several countries are offering high incentives in the form of tax rebates and return on investment.
In case you have opted for a solar lease or power-purchase agreement, I’m afraid you won’t be eligible for the same.
Nevertheless, you should explore all the available finance options and reward programs before getting on with the installation.
Most governments and states have special credit programs for new solar owners. For instance, in the US, many states provide Solar Renewable Energy Certificates (SREC) to homeowners who have installed rooftop solar which they can sell off to electricity suppliers and make extra bucks.
6. Day of installation
While most of the prerequisites for a solar installation would have been dealt with already before the day of the installation, a professional installer will make sure that everything is at the right spot and condition for a seamless procedure.
FYI, here are the steps to installing rooftop solar:
Step 1- Setting up a scaffolding
Step 2- Installing the solar panel mounting system
Step 3- Installing the solar panels
Step 4- Electrical wiring and grid connection
Step 5- Installing the solar inverter in a cool place
Step 6- Attaching the solar inverter with the solar battery
Step 7- Connecting the inverter to the consumer unit
Step 8- Powering and testing the solar system
Once the system is up and running, it is your job to carry out the occasional cleaning and maintenance of the panels at least once a year.
Conclusion
Installing a solar power plant at your home can sound a bit expensive but considering all the benefits, it is no less than free.
Just a one-time installation charge and it could save you from paying for electricity bills every month all the while making your home self-sufficient by generating its own electricity.
Ravi Ranjan