The Common Misconceptions about Solar Energy
The use of solar modules for household power needs or OFF-GRID is not entertained much across the world. It is due to many misconceptions people have on solar module installation, their ROI time and it’s potential. The decades of research and development in the field of solar has gradually increased the efficiency and have decreased the amount of solar equipment. But many people lack the information on these developments. Therefore people who are capable of installing solar modules with a potential of reducing carbon usage and also who have a lot of power requirements opt not to go for solar methods.
People have a different opinion about solar energy, and the following list includes some of the most common misbeliefs about the process of generating solar energy.
Solar Panels are very costly to install.
One of the most common misconceptions people have is about the cost of solar panels and their installation. The cost depends upon the number of factors like total quantity of system required, the quantity and quality of modules, inverters and the mounting structure. Today the overall cost of solar equipment and installation costs around 49 to 60 INR per Watt. But if you are willing to install it yourself, you can save even more. Therefore the best way to reduce cost on solar installations is to know the tax credits, incentives, and subsidies given by the local government, before installation
The ROI period is too long.
The factor that bothers people the most about investment in solar rooftops is the return on investment (ROI) time. It has been known that most people believe that the ROI time is about 25 years or at least more than 10 years, which is not true when compared to actual stats. This depends upon factors like the current consumption of electricity, capacity of the system, and power tariff in your state/country. One of the main contributors to ROI is the installation of the net metering system. Here you will be allowed to return some of the power you have generated back to the grid after excluding your consumption of electricity. The government will provide a subsidy amount for the number of units that are generated and returned.
Waiting for the price of solar panels to come down.
There are consumers who prefer to wait for prices of solar panels to come down. They don’t realize that their price of solar panels is lower than they have ever before. To be exact, the cost per Watt in 1975 was $101.05 as compared to ¢61 in 2015, all the way down to ¢37 in late 2017. This trend is reversed in case of the price of electricity or non-renewable fuels. The installation of solar modules has also been seen to skyrocket in very small timespan ever since.
Maintenance is very high.
Solar Panels probably require the least maintenance, since it does include any moving parts. Usually, it needs simple periodic cleaning of the panel top, but most owners won’t bother much and rely on rain to wash the panels off dust. Most PV modules last longer than their 25-year warranty given by their manufacturer.
Other than solar modules, the inverters might require a change once in a while, but this very rare as there isn’t many fluctuations and the monitoring software will take care of this. The mounting structure does not need any maintenance since it comes as rust free and lasts longer than the solar modules.
Fossil Fuel Energy is cheaper compared.
It is easy to compare the current prices of both solar installation cost and the cost of continuing with non-renewable sources of energy for the time being. But it is evident that the prices of fuels are costlier than they have ever been and it is known and predicted to rise even further in the near future. Installing solar also means that your returns increase gradually as the price of non-renewables increases.
When the ROI period is over, solar panels become a way of returns. It is expected that the solar have a return value of around 12% to 15% annually, again this number may vary depending on your requirement and the total capacity of your installed system.
You Need to Live in a Warm Climate
This misconception is more of a flaw in the basic understanding of solar panels by most people. This is because solar panel harnesses the sun’s radiation and does not depend upon the temperature created by that radiation. If the area where you plan on installing is lesser warm than other places but have an equal amount of sun’s radiation, the power output will be identical in both places, if not better. Moreover, the lesser warm places require more power for heating and lighting, which translates to more expenses, making solar a better option.