who has solar panels on their home and are they worth it
There are different kinds of solar panels. The biggest division is between photovoltaic panels that produce electricity and thermal solar panels that produce heat for hot water and space heating. Commercial photovoltaic panels are from 8 to 24% efficient while solar thermal panels are from 60 to 80% efficient. Solar thermal panels especially for hot water have a much higher ROI (return on investment) than photovoltaic panels. A solar hot water system may have a payback period (when savings equal the investment) as short as 3 to 5 years while photovoltaic panels will typically have a payback period between 7 and 5 years. Solar panels especially in times of low interest rates may be a very worthwhile investment with a better return than you can find almost anywhere else. But they are also highly dependent upon your situation. Owning a home with a good southern exposure is a prerequisite.
Depends where you live. Solar hot water is good for anywhere that doesn't get hard freezes, and will also work (slightly different technology) in colder areas, but will take longer to pay back. Hawaii probably has the best payback for solar water heaters of any state.
Well I have some. I think it's a great investment. If you have the money it's totally worth it! If you notice on some street lamps there are solar panels. I am sure the town wouldn't waste there money it must be worth it. Schools are investing in it and lots of business. If I was you I would go for it. I was really happy with the company that did it for m- but they only service New York and New Jersey, not sure were you live. Enjoy saving money!
They're only worth it if: # - you are rich enough to afford them over the long term. Commercially installed solar panels will take you over 0 years to see any financial benefit. #2 - you get the parts and some instructions and get them built yourself. DIY or get a local electrician to put them together. If you don't fit into any of these 2 categories, then they're NOT worth it.
