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Why Solar Panels Are So Expensive?

by kumarrahu
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A solar panel captures direct sunlight and then converts these direct sun rays into electric energy as direct current electricity. These panels are a great way to generate electricity for home and medium industrial use. However, installing solar panels is so expensive that many people don’t consider installing them.

However, compared to other electricity sources like generators, you may save more money in the future when using solar panels. Many factors contribute to the high cost of solar panel installation. Before looking at these factors, here are the advantages of using solar panels as a source of electricity.

Advantages of solar panels

Reduced electricity bill

Solar panels are a great way to reduce your monthly power bill. This is because the generated electricity will power most electrical components after installing solar panels in your home. Therefore, depending on the size of your solar panels and electricity usage, you may not pay any electricity bill.

Renewable energy

Solar panels utilize energy from the sun to generate electricity. As a result, you reduce your carbon footprint because there are no carbon emissions. Additionally, you create renewable energy when you export some of the electricity you generate using solar panels to the grid system.

Low maintenance cost

solar panels are very cheap to maintain. You only need to clean them regularly to clear any dust covering them. Solar panels require very little maintenance compared to other sources. 

Increases property value

If you are a homeowner and decide to sell, the value may greatly increase if you have solar panels. Therefore, installing solar panels can be a great investment.

Why solar panels are expensive

High cost of manufacturing and materials used.

The raw materials used to manufacture solar panels are expensive because they are rare. Some of these materials include high-grade silicon, used to make solar panels, and lithium, used to make solar batteries. In addition, the cost of manufacturing a single solar panel is very high because it requires advanced manufacturing methods.

Brand choice

Different solar system brands have different prices. Solar panels by big brands tend to be more expensive than those by small brands, although the quality might still be the same. Most solar companies in Peoria have affordable solar panels because most companies are not big brands.

Soft costs

Soft costs are another major reason why solar panels are expensive. If you want to install a solar panel in your home, you need to get it done by a professional. A professional will make sure that he installs the solar panels safely so that they can pass the necessary inspections. As a result, the cost of installing a solar panel goes up because hiring a professional is not cheap.  

Installing solar panels for your home has many advantages such as reducing the cost of your electricity bill. However, solar panels are costly and can look like a bad investment. Although installation costs are expensive, you will save more money by using solar panels. At cool blew solar, we have affordable solar panels that are of great quality. We also have great warranty options for solar systems.

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