IS SOLAR POWER WORTH THE INVESTMENT?
With at least another 4 to 5 billion years of solar energy bombarding the planet daily, harnessing the power of the sun for electricity can be one of the best options for those seeking cleaner energy sources.While the prospect of cutting down on your monthly energy expenses through the latest developments in solar technologies may seem like a great idea, the initial investment may have you questioning if solar power is really worth it.To better understand how you, and many others, can directly benefit from an installation of solar energy systems, the efficiency of the panel you choose should be considered, but that does not mean a more efficient panel will translate into better economic benefits for you personally.
A variety of factors including panel placement, geographic location, the architectural design of your roof, temperature, and the amount of shading on your building will determine if upgrading to a solar energy system is right for your business, or home.Efficiency in solar panels is simply the measurement of energy output in a given surface area. The more efficient a panel is, the less space it will take up on your roof. However, choosing a more efficient solar panel may not always be the most cost-effective decision available.
EFFICIENCY OF SOLAR PANELS
Today, most solar panels provide an energy efficiency rating between 11 and 15 percent, which is the percentage of solar energy that is being converted into useable electricity.While it may seem like a low percentage, advancements in solar energy technologies are continually being made, and modern panels can more than cover the energy requirements of most commercial and residential needs.Today, researchers are continually trying to improve the efficiency of photovoltaic technology. Scientists have now achieved a record of 40 percent efficiency by utilizing multi junction cells that are tuned to capture different frequencies of light on the electromagnetic spectrum. While these are currently the most efficient solar cells that have been created, they are not yet available to the general public.
If you have a smaller roof and limited space, a more efficient solar panel may be the right choice for you. Because of their higher efficiency, these panels may be slightly more expensive, but they will still meet the energy requirements you need.However, if you have a larger amount of space, you may be able to achieve your energy needs with less efficient and less expensive panels to help save on your installation costs. Considering the overall cost of the panels and the kilowatt production can help you pick which is best for your installation.
