Can Solar Power be Cost Effective?

Solar Power (aka Solar Energy, Solar Electric) is poised as a rapidly growing home power solution in the near future. Have you ever asked, "Can solar power be cost effective?"

Well, the current advances in solar cell technology are driving down the costs of residential systems plus the continuing pressure on non-renewable resources for power such as fossil fuels, coal, and nuclear are driving up every day home energy costs. There are also an increasing number of rebate and incentive programs provided by government agencies for residential solar power conversions. With the conventional costs increasing, incentives and decreasing costs associated with solar powered home systems, using the sun's solar energy has never looked brighter.

Solar power generation has advanced to the point that you can buy small solar panels from your local hardware supply. The solar panels that can be used to run small appliances, charge flat batteries, maintain a charge on your boat, car, motorcycle or other stored treasure. Home kits are available in the stores but tend to be a bit costly for larger scale power solutions.

Can solar power be cost effective? With the decrease in the cost of a solar panel, it is still a major investment to the average homeowner. Two things you need to consider are "how much solar power do I need" and "How".

A solar electric retrofit has two formats: OFF-GRID or GRID-TIED.

OFF-GRID: your home generates all of your power needs without being attached to the public utility system (grid). Popular with rural homes or cottages that might be outside the normal grid service area. Most OFF-GRID homes are a hybrid power system that don't solely run off solar energy but include a wind turbine, fuel driven backup generator or even micro-hydro systems. Even with the advantages of being off the grid, this power format is very expensive to implement and maintain. Payback on one of these systems takes longer than the next format.

GRID-TIED: the home power needs are provided with solar energy and the grid. The system feeds the solar electric power directly into the electric panel (via an inverter) thus reducing grid provided electricity. Excess power from solar panels can be stored in a battery bank (optional) to be used for power needs at night. A bonus occurs when your solar system produces more electricity than you use, feeding the excess solar electric power back to the grid. The big deal here is most public utilities now offer metering that allows your electric meter to spin backwards (net metering), reducing your monthly electric bill. If you generate more power into the grid then you used, some public utilities pay you!

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To answer the question 'Can solar power be cost effective?'

Yes, IF you start with a good idea of what you need, what solar powered home solution you will use and if you are willing to do a little DIY (Do It Yourself). Doing a little or all of the work yourself can save you thousands off your solar powered home system. There are products available on the internet to assist you on your road to either power independence, saving money or even getting paid as a power provider.

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