Solar energy has become the most talked about and popular source of electricity these days. The companies manufacturing solar panels as well as the consumers purchasing them have increased dramatically over the past few years. NGLE is one such company working to provide the best solar panels in Pakistan.
However, before investing in such a hyped product, you must be thinking is it actually worth it, and would solar systems actually save you money or not. Well, the simple answer would be Yes! It does save money but under certain circumstances which are discussed in detail below.
Money Saving through Solar Energy:
The energy consumption and electricity bill of your house fluctuate and are likely to increase every year. This is because, with the rise in inflation, the cost of fuel and local electricity supply is also increasing. Through solar panels, you would be able to manage that cost by producing your electricity through the same source i.e., the sun without any fear of increased price every year as sunlight is free for everyone. That means with a one-time investment, you can save money for many coming years.
However, to know whether you’ll be actually able to save money through solar energy, you need to first determine the energy needs of your house, the expected cost of a solar system to meet it, the expected time for ROI, and other factors that impact the performance of the solar panel system.
How Solar System works and saves energy:
Let’s say you want to install a domestic solar system for your house. You would first determine the energy need and the average electricity bill of your house over the past few months. Based on that, you’ll have an idea about your average energy requirement and the average yearly price your local electricity costs you to meet it. Next, you have to determine the total investment cost for your solar energy system. Then, by dividing the total price of your solar system by your average yearly electricity bill, you’ll have an idea of how many years the solar system would pay back to you.
For example, if your average electricity bill per year is $1300 and the cost of a solar system is $15000. The answer by diving them is 11.5 which mean your investment will be fulfilled in 11.5 years and after that, you would be able to enjoy free electricity from your solar system. A typical solar system lasts for 25 years so it provides a great opportunity to save money in the long run.
Other factors to consider:
However, it is possible only when your solar system remains functional through these years. Moreover, things such as the size of your solar set-up, its efficiency, and sunlight energy in your area also impact the electricity generated and hence the money saved through it.
Thus, the high installation and maintenance cost often make the money-saving questionable but if taken care of properly, these actually can save you a lot of money ultimately. Moreover, installing solar panels has other benefits like increased property value, reduced reliance on your local electricity, incentives from the government and environmental conservation, etc.
The overall prices for the domestic solar system have also become more affordable now due to their cost-effective production technology. If you want to have the best solar panels in Pakistan at an economical price and high efficiency, NGLE is the perfect choice for you. We make sure your solar system is installed and maintained properly and continues to save money for your household.