Are solar panels worth it? | Year Of The Ox
Posted: 11 Feb 2021
Tagged: solar lifespan | Solar Panel | solar panel maintenance | Solar Power | solar return on investment |
Celebrated by many, the festivities of the Chinese New Year is renowned for their spectacular performances, elaborate fireworks and ritualised dragon dances.
With each new year, the Chinese zodiac follows a twelve-year rotation- each represented by one of twelve animals.
This year, the chosen zodiac is the Year Of The Ox. Proclaimed second on the calendar, the oxen is hardworking, dependable and industrious– similar to that of a solar panel.
Solar System Return On Investment
Solar panels are a dependable asset with a quick return on investment (ROI).
If your energy bills are around $350 per quarter and you install a 6kw solar system, it only takes 2.6 years for the solar system to generate you enough savings that it covers the cost of its purchase.
As solar panels can last up to 25 years, you have the ability to pocket over 22.4 years’ worth of savings.
In the business world, a 10% annual ROI is considered successful. By this logic, achieving a 100% ROI can take up to 10 years!
When it comes to solar, you can achieve full capital 90% faster!
Solar panels are hardworking and never take a day off from generating you free electricity!
Their longevity is one of their defining assets as they can last up to 25 years.
Although solar degradation is inevitable, a good quality solar panel will have degradation rates that will barely affect the performance of your system. On average, solar panels will still carry up to 80% output efficiency even after the 25-year estimate!
Solar Panel & Low Maintenance
Solar panels are industrious and are relatively easy to maintain.
Due to their average 10% pitch, rain will naturally keep your solar panels clean, however, an annual wash with cool water and a brush will help to remove built up leaves, grime, sap and bird excrement.
Yearly checks are also recommended to aid the longevity of your system. Check out our solar panel maintenance checklist to keep your system providing well into the future.
Three Solar Quotes
Ready to celebrate this Chinese New Year in the true spirit of the Ox?
Solar Market connects you with 3 free solar quotes from local CEC accredited installers in your area so that you are confident your receiving a product that is as tough as an Ox!
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