Shedding Some Light on Home Solar

Consumers shopping around for home improvement projects may be leaning toward overhauls that can reduce energy consumption and save them money in the long run. This is often a driving factor behind a growing number of homeowners investigating solar energy for their residences.

How does solar power work?

Solar power harnesses the sun’s energy and converts it into electricity that can be used in homes. Many people are familiar with photovoltaics (PV), which are the panels that absorb sunlight and create an electric field across their layers. Another solar technology, known as concentrating solar power, is primarily used in large power plants and is not appropriate for residential use, according to Energy.gov. According to the Office of Energy Efficiency & Renewable Energy, hundreds of thousands of solar panels have been put in use across the United States since 2008.

Costs associated with solar

The upfront expense of solar panels is significant, costing anywhere from $10,000 to $14,000 for initial installation. However, comparatively speaking, homeowners can spend $1,500 or more per year on electricity, so solar panels will pay for themselves over time. Keep in mind that costs may vary depending on energy needs and how many panels will be required to service the system.