With the steady growth in the price of light and power rates, many people consider the option of employing solar panels to produce their own green energy while also reducing their usage.
If you are considering investing in photovoltaic energy, Cloverenergy would like to clarify whether it is truly worthwhile to carry out such an installation and what you can expect. Because of it. We must be aware of a number of conditions that our home must meet, which we shall go over in detail below.
Why should you invest in solar energy?
In many ways, a solar panel installation is a financial product, capable of delivering yearly returns ranging from 10% to more than 30%. A Cloverenergy user that pays cash amortizes the investment in 5 to 7 years on average. From that point forward, you will receive free electricity for the remainder of your solar panels‘ 25-year useful life.
You may easily determine your annual yield by dividing the annual benefits by the initial investment in your solar panel installation. The following things may have an impact on your benefits:
- Electricity rates: How much do you pay for electricity? This enables you to calculate your savings over the course of the installation. The bigger your savings, the higher the price of electricity.
- Financial incentives: Are there any state or local incentives or subsidies available in your area to stimulate the installation of solar panels? Is your firm eligible to receive tax breaks? The more the incentives, the smaller your starting costs will be, resulting in a shorter payback period.
- Costs: Have you evaluated your financial choices to discover the best one for you? How much does it cost to install solar panels? Do you have access to tax breaks and subsidies that minimize the cost of installing solar panels? A shorter payback period is synonymous with lower costs.
- Technology: How efficient is your solar panel? Is it producing energy at a high enough level? A bigger percentage of your monthly payment will be covered by the installation of high-efficiency solar panels.
- Characteristics of the house or business: Do you have a lot of sunny days? What is the pitch of your roof? And how steep is the ascent? These elements also have an impact on your output levels.
- Increase in property value: How much does the value of your house rise when you add solar panels? If you own the facility, the value of your property rises, however if it belongs to a third party (for example, leasing), it falls.
- Earnings in business: How much do your profits increase when your expenses decrease? What is the monetary worth of the goodwill created by your installation? All of these elements can help your company’s return on investment.
Compare your choices to identify the most suitable value
Getting a fair deal on your solar panel installation is critical to maximize your financial returns. The easiest method to accomplish this is to evaluate multiple choices from various solar panel installers in order to get the best solution.
Get high returns on your solar energy investment
Investing in PV yields very different returns than investing in bonds or stocks. They are not only distinct, but also superior in terms of investment approach.
- Long-term returns: With the installation of solar panels in a home, you can produce green energy for free for more than 25 years with minimal, if any, maintenance. Throughout this time, you will produce returns in the form of savings that you would otherwise have to pay to the utility companies. We can confirm that the electricity cost will continue to rise, implying that the savings and returns from your photovoltaic installation are very low risk, implying that investing in photovoltaics is a wise use of your money. There are very few opportunities in the market that offer returns of more than 10% with such low risk and over such a long time frame.
- Increase in yearly profitability: If we look at the history of energy prices, we can predict that the price of the electricity bill will continue to rise by about 3.5 percent per year. As a result, if you opt to invest in photovoltaic panels, the savings will grow over time, because the investment is the same and the cost of light is rising.
- Tax-free returns: Another significant advantage of PV is that the vast majority of the returns from your solar panel installation are savings rather than income. The major benefit is that you do not have to pay any form of tax on the savings, which would limit your profitability.
- Tax breaks: You can also take advantage of state, regional, and regional tax breaks that are available in your area to encourage growth. On our website, we will tell you about the various incentives that various public agencies are implementing to make the shift to self-consumption more enticing.
- Property resale price increase: A great number of studies have been conducted to determine what improves the value of a home if photovoltaic solar panels are installed. As a result, if we want to improve the sale price of the house, we must be the facility’s owners; cash payment or loan are thus the best possibilities. In the examples analyzed, it was discovered that a house outfitted with renewable energies had a much higher worth than another house in comparable conditions. Buyers want self-sufficient dwellings with low environmental effect and are willing to pay a premium for them.
- Goodwill: Investing in a solar panel installation helps not only you, but the entire community around you will benefit from the associated environmental benefits as well. Furthermore, if your organization is connected with “green credentials,” you will notice a rise in your benefits because many clients will bet on you in appreciation of your commitment to sustainability.
Where should the solar panels be placed?
It is obvious that the optimal location for solar panels is one with the greatest exposure to sunshine. That is why, as long as they are free of obstructions and shadows, roofs, terraces, or roofs, whether flat or sloping, are usually the appropriate site.
If the roof is unsuitable for solar panel installation, the land on the property could always be utilised.
The best results are obtained when the solar panels are directed to the south with an inclination of around 30 °.
Is my house (or its roof) suitable for solar panels?
To answer this issue, we must consider a number of factors that the home must meet in order to install photovoltaic panels that work efficiently.
- Roof orientation: For best results, the roof should face south. If it faced east or west, there would be orientation losses ranging from 5% to 15%, which is insignificant enough not to warrant installation. If you can only install solar panels facing north, the case must be investigated in depth based on your location, in order to achieve the greatest performance for your installation of self-consumption solar panels.
- Roof slope or roof inclination: In order to insert the solar panels, the inclination must be between 15o and 45o degrees; otherwise, a structure must be installed to provide the suitable inclination.
- Size and shape of the cover: In terms of shape, it can be stated that the more regular and square the cover, the better for the installation of solar panels. In terms of size, this will be determined by the amount of electricity you require and the type of installation you intend to construct. When calculating the size of the roof, consider obstructions such as elevator shafts, dormers, chimneys, and air conditioners. Although the plates can adjust to certain obstructions, having too many or being too thick, which casts shade, can be a concern. In general, you need at least 10 m2 for a minimum installation of 5 solar panels, because each panel requires around 1.9 m2.
- Roof condition: Because photovoltaic solar panels have an average functional life of 25 years, it is reasonable to expect that the roof will remain in good condition throughout the duration of the installation. If the cover is in poor condition, it is best to repair it before proceeding with the installation. This ensures that the plates are mounted on a strong and dependable surface. However, if you need to renew the coverage in a few years. This will necessitate disassembling and reassembling the system, requiring both technical and economic effort.
- Tile types: Solar photovoltaic panels work with practically every type of shingle, including wood, concrete, composite, tar, gravel, slate, and metal shingles. Clay, wood, and slate tiles are less robust and thus more likely to break.
- Shadows: Whenever possible, place the solar panels in areas free of shadows; this is an important requirement when installing in your home, because prolonged exposure to shadows can affect the performance of the plates; however, there are elements that help point shadows so that they do not affect the entire system.
There are other solar panels designed to reduce performance loss in difficult settings such as shadows or overcast days.
In other countries, there may be geographical places where installing solar panels at home is unattractive, but this is not the case in Ireland. Because our country has almost the highest radiation in Europe, the potential for solar energy is huge. Installing solar panels at home is a very smart idea, even in the north.
Why is it a bad idea to be a handyman when installing solar panels?
Solar panel installation is becoming increasingly popular with businesses and private users looking for a solution to the continual rise in light in their own energy usage.
If you have decided to go the self-consumption route, you may be wondering whether it is best to undertake the installation yourself or to hire professionals.
Going to a professional is without a doubt the finest solution. Without the required qualifications, a person can take needless risks and go from modest savings by doing it himself to a significant loss of money. In this post, we will discuss the most common mistakes that can be made if you do not seek professional counsel.
Do not experiment: instead of seeking professional advice
“What better way to get started with self-sufficiency than to install my solar panels myself and save money?” This notion may appear appealing; you may believe that installing solar panels is “simple,” that it does not require massive assemblies, and that you will save money by not relying on an expert; nevertheless, this is not the case. We guarantee that you will be leaving a huge investment in the hands of luck, and luck is not always on your side; remember that the best way to save money is not to lose it.
Mistakes to avoid if you install your solar panels yourself
It is critical that solar panels are installed securely and correctly. They are electrical systems, and a minor inaccuracy could cause a major disaster, such as a fire. As a result, it is important to have experts who know what they are doing at all times and who will be in charge of the subsequent maintenance of the solar panel installation.
If you’re still sure that you can do it yourself, here are some mistakes you can make that can wreak havoc on your installation and result in poor results:
- Mistakes in technical calculations: It is vital to conduct a preliminary research to determine how many panels are required, what size or kind of batteries are suitable based on the amount of energy to be generated, and so on
- Photovoltaic installations are complex, and mistakes can occur: They are made up of numerous pieces that are difficult to put together, and the relationships between them necessitate specialized knowledge in the field.
- Trying to save too much money can be very costly: Hiring a professional business may be more expensive, but it may cost us more to have done a poor installation and the system is inadequate or presents problems that result in big charges.
- Incorrect solar panel orientation: The panels must be properly oriented because their performance is dependent on it. It doesn’t mean they won’t function if they’re not adequately positioned, but you’ll get far less out of them and it will take longer to recoup your investment.
- Wrong product and material selection: Specialized firms deal with materials that are of higher quality than those we can obtain on our own in the market, and their costs are much more competitive. We will have far more problems in the future if we sacrifice quality to save money.
- In the event that the installation fails, you have no recourse: We will have insurance for the entire structure, materials, and future maintenance if we leave the installation to professionals. However, if we do it ourselves, we risk voiding the product guarantee owing to improper installation or handling.
- The self-consumption installation must be registered with the appropriate administration: To accomplish this, an authorized installer must present the installation certificate that has been properly completed and signed. They may require it if you make the installation yourself and do not legalize it. Furthermore, you would not be able to receive compensation for the solar surplus generated (that portion that the panels generate but do not consume), because the marketing firm will only be allowed to compensate you for that surplus if the installation is legally legalized.
Switching to self-consumption is a critical step that necessitates a significant financial investment that will be repaid over time. Why ruin a wonderful investment for your home, your wallet, and the environment with a poor choice?
Cloverenergy is here to help you with whatever you need without having to worry about anything, because we are specialists who work with the best installers to provide you with the best with all the amenities. Please do not hesitate to contact us, we will gladly advise you.