Are you planning to use solar power after hearing so much about the potential energy savings? Many homeowners feel the same way, but you shouldn’t buy into the hype without doing your research first. By now, you probably know that installing solar panels in your home or office requires a significant upfront investment. How can you tell whether this investment will generate an excellent return over the long term? There’s no easy way to answer this, so be sure to keep reading to determine whether it’s time for you go solar this 2018.

How Much is your Electricity Bill?

The first thing you need to keep in mind is that the savings you can enjoy by using solar power depend on your current electricity bill. When you make the switch to solar, you’re essentially installing a power plant on your roof, replacing the one used by your utility provider. This means that the people with high electricity rates can see the highest savings by using home solar power.

The leading solar panel installers in Australia, topvaluesolar.com.au, suggests using a solar calculator to estimate the potential savings you can enjoy. The electricity rates vary from one place to the next, so make sure you determine the rate in your particular area to get the most accurate results. Crunching numbers might not be the most exciting thing to do, but it gives you an idea of how much money you can save over the long term.

What is the Cost of a Solar Panel?

Here’s another big factor to consider. A solar panel costs a lot of money, and you also need to pay experts to install them on your roof. The upfront investment turns off many people, but as always, it’s worth looking at the long-term benefits. Over the years, many manufacturers have released cheap solar panels, but investing in high-quality equipment offers you the highest rewards. Do your research and review all your equipment options. Find the perfect balance between price and quality so you wouldn’t end up with a solar panel that doesn’t last as long as it’s advertised.

Take note that some places also offer solar incentives and rebates. In some cities, the net cost of switching to solar panels can go down by up to 50 percent. Also, some utilities offer cash rebates to customers with solar panels in their homes.

Are Solar Panels Only Worth It in Sunny Places?

Sure, solar loves sunlight, but this doesn’t mean you can’t use it in a place that isn’t sunny all year long. In fact, solar panels can even be used in places with cold, snowy winters. It’s worth noting that these places usually have the highest electricity rates, which means solar users can see the biggest energy savings.

You should also take your time to get multiple quotes from different providers. Doing so allows you to compare their rates and weed out those that offer unreasonable prices. While you’re at it, review their background and credentials to ensure you’re working with a reputable company that can give you your money’s worth.