Is A Residential Solar System Feasible in The Long Run?

As the world becomes more aware of the gross burden on the environment, the need to shift to sustainable sources of energy from traditional biofuels has gained speed, with Australia leading the world in this endeavour.

One of Australia’s main advantages in harnessing sunlight for solar power is its geographical location, which allows the country to enjoy sunshine almost all year. The adaptation is gaining ground both through the government’s efforts and the supportive stance of the citizens. The result is a substantial increase in the installation of residential solar systems in all the major cities and provinces in the country.

Admittedly, the cost of installing a residential solar power system is significantly high, despite the federal tax credit and many incentives and rebates. But the investment is worthwhile due to the long life of the panels, which makes up for the high cost, and the following benefits:

The benefits of installing a residential solar system

1. Long lasting: As per the prevalent industry standards, the lifespan of solar panels is anywhere between 25 and 30 years. The point of break even for solar power energy savings is, on average, after 6 to 7 years post installation, and with regular maintenance and servicing, the panels can end up saving thousands of dollars if they continue to produce at a high level for another 15 years. Following this, the panels will continue to convert sunlight into solar energy, albeit at a lower efficiency.

2. Economical: The cost of electricity is rising in conjunction with the economic slowdown and inflation, leading to high electricity bills that have multiplied since the pandemic hit the world in 2020. Because of lockdowns and restricted movement outside the home, all work was moved from office spaces to homes. People were and continue to spend more time at home working on their laptops throughout the day and into the late hours of the night, as well as watching television in their spare time, resulting in increased energy consumption and inflated electricity bills. Shifting to solar power will not only drastically reduce electricity costs, but it will also be profitable after a few years, with the residential solar system paying for itself, including maintenance costs.

3. Free electricity: The electricity produced by the conversion of sunlight into solar energy does not cost anything, thereby putting an end to the monthly electricity bills and tariffs charged by the government authorities. Sunshine is free, and its renewability is not dependent on humans, which makes harnessed solar energy free. The Australian residents recognise this advantage and are opting for solar power installations on the rooftops of their homes for optimum productivity of the system. The money you save on utility bills can now be used for home improvement, shopping, and so on.

4. Healthier Planet: Traditional sources for power like coal, natural gas, and oil are majorly responsible for greenhouse gases, water and air pollution, and toxic waste, which have and still are adversely affecting our environment and our health. The biofuel sources are also not renewable and sustainable, which is also resulting in a rapid increase in their cost along with destroying our planet. Solar energy, on the other hand, is not only renewable, sustainable, and free, but it also contributes to a cleaner environment without producing any harmful gases or pollution. Becoming eco-friendly is the need of the hour, and shifting to solar power as an energy source is the duty of all aware and concerned citizens of the world.

5. Source of earning: One of the many incentives offered by the government is the opportunity to earn by sending the excess energy produced by your system back to the centralised power grid and earning compensation for the same. The rates vary from country to country and province to province based on the policies set by the authorities in that area.
6. Low maintenance: Contrary to the general perception, residential solar systems are very easy to maintain and very cheap. Solar panels are very durable and can last for years without requiring maintenance if they do not get damaged due to extreme weather conditions. All they need is basic cleaning a few times a year, which requires you to wash the dust and dirt off the panels. Alternatively, you can also hire professionals to do the needful. Make sure that there are no low hanging tree branches or structures that can snap and fall on the panels during thunderstorms.