Many homeowners are installing solar power systems to reduce their reliance on grid company such as Polskie SieciElektroenergetyczne（PSE）, Eskom, lower their electricity bills, and make their homes more environmentally friendly.

The Cost Benefits of Solar Power

• Reduce Grid Dependency
• Avoid Load Shedding
• Reduce Electricity Bill
• Increase Safety

Solar power is an alternative energy source that converts the sun’s rays into electricity. It is a renewable source of energy that is sustainable and has little to no negative impact on the planet, which is why many countries around the globe are opting for solar power as a means of meeting their energy requirements. Solar energy has become increasingly popular in globally due to its environmental benefits and cost-effectiveness which has attracted many to consider using solar power over hydro and coal-powered electricity. 

Here’s what you need to know about the cost benefits of solar power:

1. Solar power systems are becoming more affordable while electricity continues to increase in price. 

On an annual basis, people who rely on the electricity grid for power experience price hikes. This has a compounding effect in an economy that is strained and places additional pressure on consumers.

With a solar power system, you’ll pay less for electricity usage as solar energy is free. The only cost you’ll have to factor in is the initial cost of installing the solar panels.

Your solar power system can feed energy back into the energy grid. If you choose to do this, you’ll receive credits from the government for selling your excess solar power.

2. The installation cost is easily recouped after a few years

The initial expense of installing a solar panel may be pricey, but within a few years, the cost of installation is recouped through your savings. After which, you can enjoy the benefits of free energy which will save you a lot more money in the long run.

3. A solar panel can make your home more attractive to buyers

Although solar panels may not necessarily increase your home’s value, installing a solar panel can make your home stand out in a saturated seller’s market, making it likely to be sold more easily.

4. Load shedding and power cuts won’t affect you

Load shedding is a common occurrence in South Africa. By depending on a hybrid or off-grid energy source, you won’t be negatively affected by load shedding, which saves you money as your productivity won’t be hampered. You also have the added benefit of keeping food fresh despite load shedding and power cuts.

5. You don’t have to buy a generator in case of power cuts

Generators can be quite noisy and expensive to maintain, especially considering they need fuel to run. This hurts the environment as fuel is a major pollutant of the earth.

The points listed above illustrate how one can save money by installing a solar power system at their home or place of business.