Going Solar, Part II: The Economics of Solar Energy

//Going Solar, Part II: The Economics of Solar Energy

Going Solar, Part II: The Economics of Solar Energy


In one second, the sun produces 173,000 terawatts of solar energy. That’s ten thousand times more than the electricity production on our planet, and it’s happening every second of every day.

Solar energy isn’t just powerful – it’s not going to run out, and these days, it’s relatively inexpensive to harness and use to power your home.

In part one of our Going Solar series, we went over the health and environmental benefits of switching to solar energy. Here in part two, we’ll be going over the economic and personal benefits that switching to solar can bring to you and your household.

Energy, Anywhere

There are still many places in the world where energy installation is a challenge. Remote areas with difficult access also have difficulty in obtaining a reliable energy supply. That is, until solar power became prevalent.

Solar panels don’t need much space, and require little maintenance, making them a great solution for remote properties, or even small buildings looking for a simple, sustainable energy source.

Even on a Cloudy Day

Contrary to popular belief, the sun doesn’t have to be shining for solar panels to work. Even on cloudy or rainy days, there is usually enough ambient light in the air to keep your solar system functioning.

Most solar systems have a storage system as well – be it via batteries or by using the public grid-  that allows you to tap into the electricity your solar system produced on a sunnier day and use it when there’s less light or even at night to continue powering your home.

Supply and Demand

As we touched upon above, solar power doesn’t have to be used right when it’s produced or produced right when you need it. Energy demands are often higher at night than during the day – when we’re using the lights, cooking dinner or heating our homes – yet solar systems produce more energy during the day and at night.

Smart solar systems store the energy produced and save it for use during your peak energy hours, ensuring that you’re never without power. Via solar metering, you can even get credits from the public power company for excess energy you produce during sunnier months for use in the winter. And of course, many solar systems have a backup – such as a generator or the public power grid – which you can turn to in need.

Improving the Grid

The Public power grid can be rife with problems. From voltage dips to full out blackouts, an overburdened energy supply can’t always support the public need. Switching to solar doesn’t only alleviate your worries by removing your dependency on the grid, it also helps to improve the health of the grid for other people, as less energy demand means the grid has fewer problems to deal with.

Money in your Pocket

While there is an upfront cost to solar installation, it’s an investment that’s guaranteed to pay off over time. Solar energy is harnessed from the sun’s rays – a free, renewable resource. That doesn’t only make it sustainable, it means that once you’ve paid off your installation, your energy costs will be significantly reduced.

Economic Output

Solar isn’t just a great idea for your personal finances – the solar industry is having a positive effect on the economy. Solar is a growing industry that’s creating jobs –  from production to sales to installation – that unlike jobs in the traditional energy sector, are helping to grow the energy economy in a healthy, sustainable manner.

Maintenance Free (almost)

Solar panels are very durable and generally require very little maintenance. They should last around 25-30 years. Some of the original solar owner’s report that their panels are still producing at 80% capacity nearly 50 years after their original installation.

Solar truly is a marvelous technology. It saves you money, saves the environment, creates jobs and lowers our unhealthy dependence on fossil fuels all at the same time. For the good of the planet, and your wallet, consult with a solar professional today at New York Power Solutions to see if solar energy is right for your home.

By |2020-02-20T11:42:40-05:00February 20th, 2020|Solar Energy|Comments Off on Going Solar, Part II: The Economics of Solar Energy