Solar Panels – An Investment you Should Consider

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If you are looking for savings in your monthly electrical bill then you can always consider investing in solar panels.
Cost of Installation
Many people think solar power is expensive. It actually isn’t. A lot of solar companies have come up with affordable offers that will suit your budget like Solar Panels Melbourne Vic. If your electric bill is greater than $150 a month you can save money next month, with no money down, by buying your electricity from solar panels rather than the electric company.

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For large households, electricity usage can become a burden. Huge monthly consumptions that can go as high as 150 to 200 dollars will surely slice a huge portion of the monthly budget. A yearly electricity bill will then be at around 1800 to 2400 dollars and that is just the average. Now that’s expensive.

Start of Saving
Installing solar panels is a great way to save money, however, it’s important to understand just when you can expect to see those savings. Some options allow savings the day the system is live, whereas others come with an upfront investment and provide greater returns over time. If you borrow money with a loan or qualify for a lease, you can often reduce your monthly electric bill immediately. If you decide to do a pre-paid power purchase agreement, or buy the system outright, you will have an upfront expense, but save more in the long run.

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Considering the installation of solar panels is a tough choice. The initial investment may be costly, but the 30% Solar Tax refunds and incentives can save a homeowner around 5000 to 7500 dollars. The usual return of investment will then be at around 5 to 8 years for the usual 3-kilowatt solar panel system. The savings will then start afterwards, at around 50 dollars up to 100 dollars per month.

Expected Solar Power
The same system on different homes will produce different results. Production depends on a number of factors; trees, angle of roof, size of roof, temperature, latitude, degradation of panels and orientation. It is important to find a solutions provider who takes all factors into account and guarantees the system’s production.

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An typical estimate of solar powered produced in a household with a 3-kilowatt solar panel system is around 90 to 100 kilowatts per month. If the average price per kilowatt is at around .12 dollars, then that can amount to 50 dollars to 100 dollars of savings per month.

Panel Types to Use
Not all solar panels are created equal. There are numerous manufacturers and a one-size-fits-all panel system may not work for every situation. An example is limited roof space. You may not be able to fit as many larger size panels on a small roof, but can use the space more effectively with smaller panel to optimize your savings.

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For limited roof space problems, the smaller solar panels are recommended. If the power produced cannot suffice, then the one-size-fits-all solar panel systems can be used. It can be installed on the field if there is limited roof space. It can also be installed on the lawn and other areas of the property.

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