Future of Solar Power Essay
When you begin to generate your own solar power you can lock your electric rate, because your usage will depend on the size of your solar system. If your power plant isn't producing enough power you can use some from the utility grid, this will reduce your electric bill by a significant amount, like for example if 60% of your power is produced by your solar system than you bill will be 60% lower than usual.
Second, solar power has financial benefits. It is a great time to invest in solar power because the cost of the equipment is declining and the system paybacks are shorter than ever. The cost of a solar power system depends on many factors, the system size have the largest role in determining the cost, the equipment brand and the installation will also influence the cost. For example, a net cost after rebate and tax credits of a typical system of 5,760 watts is $6,992. Although this is a significant investment , don't let the price scare you away because the annual production of this system is 6,651 kwh, his annual saving around $1.397 and his payback period would be approximately 4.6 years. A general way to evaluate a potential investment is to look at the payback period. "Payback period" or "break-even point" is defined to be the amount of time it will take to recover your cash outlay. The solar power system has an efficient use of solar energy but to determine them there are new approaches.