May 15, 2012. Samuel Valero
Public transit and carpooling has become more popular, even among the white collar working class. The driving habits of many individuals have been altered, in some cases, permanently. But gasoline is not the only market affected by the rise in the price of oil. Home heating and energy costs have risen also because many power plants burn oil-related products to generate electricity. As oil increases in price, power companies are forced to pass that cost onto the consumers. Because of these issues, many homeowners are now looking at ways to make their homes more energy efficient.
Everything from high efficiency appliances to light bulbs can be installed to limit the electricity consumption of a household. Many homeowners are contemplating installing a solar energy for homes system to reduce their dependence on power plants and save money. But is such an investment cost-effective? Lets look the pros and cons below. Solar power utilizes the light from the sun to generate electricity. The energy source is free and unlimited, as long as you live somewhere where you get a lot of sunshine. A solar power for homes system can be installed on your roof, giving you independence from power companies. These are advantages of installing a system.
The drawbacks include the high install cost and the long break even point. For most homes, the initial cost ranges between $12,000 and $20,000, depending on energy consumption. That is a large initial investment for many homeowners who are underwater on their mortgages. It can also take upwards of 20 years to break even with this investment with energy savings. The choice is yours as to whether installing a solar power system is cost-effective. Look at all the costs and potential savings to see if installing one is right for your circumstances.
Published May 15, 2012. Samuel Valero