Solar Energy...Is It For You?

 We all know that solar power is an incredibly versatile form of energy; it can provide heating, hot water and electricity. All you need is the space (and money!) to put up the solar panels. Simple, right?  Not so much.

Should you invest in Solar Power

Let's consider a few things: How much space do you have?  Where do you live?  Are you overshadowed by trees or other buildings?  Which way would the panels be facing? Do you have the financing available now?  Take a look at your energy options first:

There are a few different types solar heating and energy harnessing.  Solar photovoltaic panels to generate electricity, solar thermal panels to heat water (mostly used abroad), and passive solar heating.

Solar photovoltaic panels

These are the most popular and recognized type of solar energy harness.

How It Works

The science behind Photovoltaics is the direct conversion of light into electricity at the atomic level. Some materials exhibit a property known as the photoelectric effect that causes them to absorb photons of light and release electrons. When these free electrons are captured, an electric current result that can be used as electricity.  You can find out more about this here.

Solar Water Heaters

Solar water heaters—also called solar domestic hot water systems—can be a cost-effective way to generate hot water for your home. They can be used in any climate, and the fuel they use—sunshine—is free.

How It Works

Solar water heating systems include storage tanks and solar collectors. There are two types of solar water heating systems: active, which have circulating pumps and controls, and passive, which don't.

 

Most solar water heaters require a well-insulated storage tank.

Solar storage tanks have an additional outlet and inlet connected to and from the collector. In two-tank systems, the solar water heater preheats water before it enters the conventional water heater. In one-tank systems, the back-up heater is combined with the solar storage in one tank.

Solar water heating systems almost always require a backup system for cloudy days and times of increased demand. Conventional storage water heaters usually provide backup and may already be part of the solar system package. A backup system may also be part of the solar collector, such as rooftop tanks with thermosyphon systems. Since an integral-collector storage system already stores hot water in addition to collecting solar heat, it may be packaged with a demand (tankless or instantaneous) water heater for backup.  You can find more detailed information about the different types of tank systems here.

Passive Solar Heating  

If you are in the process of a new home construction, you can design it is such a way that the sun heats it entirely. This is known as passive solar heating. 

How It Works

Your home's windows, walls, and floors can be designed to collect, store, and distribute solar energy in the form of heat in the winter and reject solar heat in the summer. This is called passive solar design or climatic design. Unlike active solar heating systems, passive solar design doesn't involve the use of mechanical and electrical devices, such as pumps, fans, or electrical controls to move the solar heat.  Passive solar homes range from those heated almost entirely by the sun to those with south-facing windows that provide some fraction of the heating load. The difference between a passive solar home and a conventional home is design. The key is designing a passive solar home to best take advantage of your local climate.

The cost factor

Residential solar energy is not cheap. That said, it would be considered a very wise investment for your home.  Depending on where you live and how large your system is, it may take upwards of ten years for your panels to pay for themselves, but consider after that your energy is free.  This will only improve as solar technology becomes more efficient, cheaper, and more widely available.  Also consider the current state of your roof.  Might it need replacing? If so, you might be interested in solar roof tiles. Rather than replacing your existing roof tiles, you can get tiles that are themselves small solar panels.

Increasing the value of your home

Which house would you rather buy - the one with high fuel bills or the one which generates its own power?   Solar panels would increase the value of your home, as once they are installed they will be generating electricity.  A buyer would then expect much lower fuel costs, and that would be reflected in your home price.  The promise of low utility bills is an attractive one these days, and a residential solar power system would certainly make your home more attractive to buyers!

Why Solar?

When you choose solar energy, you:

• Secure your energy independence and own your power! Lock in your electricity rates for 30 years — utility company rates have been steadily increasing by about 6.7% a year, with a 30% jump in the last three years alone.
• Make a sound investment. The pre-tax IRR over 25 years in most cases averages around 15-25% — far better and far safer than the stock market, bond market, money markets, and long-term CDs.
• Increase your home's value by $20 for every $1 reduction in annual utility bills, according to the National Appraisal Institute. And, your property tax won’t increase even one cent.
• Become part of the renewable energy solution — the sun provides enough energy in one day to power the entire world for a whole year! It’s free, clean and renewable.

Many of the benefits of solar energy are obvious — it provides clean power without burning fossil fuels, electricity-generating costs are pegged to a low, fixed rate (or potentially eliminated) and power from solar panels is generated most efficiently at peak times (when electricity is needed most). But there are other benefits, too. A photovoltaic system is also a sound financial investment with very low risk, and increases the value of your home dramatically. It all adds up to good news for your electricity rates, your home equity and a greener economy.

It’s a win-win, no matter what moves you!