Though it’s up to every individual to decide how to invest hard-earned funds, residential solar systems afford individuals access to abundant energy from the sun’s rays. With a residential solar payback time of fewer than four years, this converts into an easy, on-paper investment return of nearly 10 per cent per year. That much money adds up, even when spread out over several decades. But residential solar systems sizing isn’t just about figuring out how much it will cost.
When it comes to residential solar systems sizing, three primary factors should be considered. These factors are the purchase price of the equipment, the installation price of the equipment, and the set up fee or labour costs. The upfront costs of these components can often be a significant deterrent to purchasing a system. For instance, buying a one-watt-per-day panel for your entire home can cost in the neighbourhood of ten thousand dollars or more.
Fortunately, new developments in residential solar technology have made it possible to shrink this price tag. Now, new residential solar systems can deliver big savings that approach the cost of a comparable non-solar energy system. One popular method called “photovoltaics” or PV makes use of a collection of photo-cathode cells (or PV cells) to generate electricity. Another method called “pico-systems” or “solar PV systems” make use of individual photovoltaic panels to generate smaller amounts of electricity. Either method has the potential to scale back the cost of a residential solar installation by as much as 90 per cent!
Today’s residential solar systems make use of multiple, tightly-knit components to take advantage of each part of the solar cell. By marrying the efficiencies of several parts, the combined output from PV cells can greatly amplify the overall efficiency of a solar cell. This output is then amplified many times over by careful design and wiring. Together, the PV cells produce the electric charge needed by a homeowner or business owner to power their electrical appliances, lighting systems, security lighting, air conditioning, and even computers and cell phones.
The PV cells are connected either together in a single solar array or connected in series. In a single array, panels are placed on just one side of a roof. By mounting the panels on just one side of the roof, the amount of sunlight available for conversion into usable electricity is maximized. Connecting the panels in series allows several smaller PV cells to be installed in the “loops” on different sides of the roof. Each loop can switch sources of electricity when necessary and handle a higher demand during peak evening hours. This ability to “pre-load” means there will never be a moment when the electricity needed from the local utility company is lower than the amount the solar system can supply.
Residential solar systems come with a controller that monitors the amount of electricity being used and adjusts the amount of electricity required by the system. As more energy is needed by the system, the controller adjusts the amount of energy needed until the desired daytime electricity level is achieved. The number of kilowatts the system can handle will vary depending on the size of the solar system and the location it is located in. It is best to visit your local utility company and get an estimated number of kilowatts that your residential system can handle before considering any additional equipment to increase the system’s ability to store energy for future use.
Although residential solar panel systems can cost up to several thousand dollars, they are well worth the investment, as they will allow the user to significantly save money on their electric bills. The cost of a residential solar system is significantly less than paying the electrical company a monthly fee every month. Residential solar panel systems can often pay for themselves within the first year of ownership.
As residential solar panel systems continue to improve and become more affordable to the general public, more people can take advantage of them. With the cost of kilowatt charged by the electrical company steadily rising, the addition of a solar panel system can be very beneficial to anyone who wants to help reduce their cost of living. Although residential solar panel systems will not eliminate the cost of electricity, they will greatly reduce it, especially if solar panels are placed on the home’s roof.