Investing in Solar

Investing in Photovoltaic Technology
Solar Energy is an extremely useful power source with significant benefits and a few drawbacks. One possible drawback is that solar energy installations are long term investments, and can take up to 20 years to recoup the installation costs through solar electricity savings. Most photovoltaic array installations require a significant up front investment. The price is dependent on the size and type of installation an owner decides to purchase.

There are three primary types of installations the Off-Grid, Grid-Tied with Battery back-up, and Grid-Tied without back-up. One benefit of a solar energy installation is that the photovoltaic panels do not have any moving parts that require maintenance. Another benefit of having a Grid-Tied with back-up or Off-Grid home is that in case of a large outage the power for your home will not be out. The Grid-Tied system pays back the owner when more energy is created than is used, such as during a summer vacation when your home is empty and the sun is shining for 5 hours or more on your system any energy created by your system will be sold to the power company, so you may get a check from the power company when you return from vacation.

In the coming years it is a good bet that energy prices will continue to increase, as they do the value of the energy obtained through PV usage will increase as well. The greatest investment benefit is that photovoltaic systems do not depreciate over time, which means that once you install the array it is added value to your house and when your house is sold you will be able to recoup the complete invest cost. For more information on what it means for solar energy visit the Maine Solar Home website.