Photovoltaic panels energy vs traditional energy

Fossil fuels have been the backbone of our economy and our primary energy source for many years, and they continue to be so today. As photovoltaic panels continue to grow in popularity, more and more families around the country are gaining access to clean, inexpensive electricity. Because fossil fuels are a nonrenewable energy source, there is little doubt that they will be depleted at some point in the future. The advantages of photovoltaic panels’ energy outweigh the disadvantages of traditional energy by a wide margin.

Why Can Photovoltaic Panels Be Expensive to Install?

When it comes to photovoltaic panel technology, one of the most significant roadblocks is the cost, which can be prohibitively expensive in some instances. Traditional energy sources from fossil fuels – which are substantially more expensive – can be replaced by expensive photovoltaic panels and wind turbines. At the moment, many photovoltaic panel energy sources have a significant upfront capital cost connected with them.

Difference between photovoltaic panels energy vs traditional energy

Photovoltaic panels energy	Traditional energy
Photovoltaic panel energy is renewable, which means that no matter what happens, we will never run out of it as long as the sun continues to shine.	Before fossil fuels can be used, they must first be discovered, mined, and transported. Furthermore, not only are these processes intrusive, but they also degrade the soil at the site of the excavation.
Photovoltaic panel energy is abundant and free to be used. Its potential is far greater than anything we can comprehend.	For fossil fuels to be used to generate electricity, they must first go through a process called combustion. Unwanted byproducts of this combustion are released into the environment as pollution as a result, which is harmful to human health.
The utilization of photovoltaic panel energy has the potential to significantly reduce expenses. Currently, the majority of households choose to finance their solar panels through leases.	The cost reductions you could potentially realize by choosing solar over traditional energy sources are as follows: When it comes to direct costs, traditional energy is not prohibitively expensive.
As you might expect, it is available everywhere and in every place, you could think, particularly in countries that are close to the equator.	Fossil fuels are depleting and becoming increasingly difficult to get.

Let’s do the math

Residential electric utility rates are, on average approximately 12 cents per kilowatt-hour in the US. In 2014 the US average residential household used 911 kWh per month and the average monthly electricity bill was $114 before taxes and fees.

Electricity costs over the years have fluctuated a great deal — annually, seasonally and monthly — but overall they’ve gone up significantly. Retail residential electricity rates (the amount you pay per kilowatt-hour, or ¢/kWh) have risen across the nation at a rate of about 4% on average over the last 10 years. Some areas, like the Northwest, have seen increases of up to 40%.

A solar energy system can absolutely help you insulate yourself against these fluctuations and increases. Incredibly, over an eight year span (from 2006 to 2014), worldwide average solar panel module prices have dropped over 75% from $3.25 per watt to about $.72 per watt.

Of course, it’s all about location. Your property structure and home’s location, local weather patterns, and availability of our solar resource (that’s how often and how strong the sun shines) can greatly affect the cost-effectiveness your installed solar system.

The total price of a complete residential solar panel system has dropped roughly 45% since 2010, mostly because of new, widely available financing and leasing options.

When you purchase and install a solar energy system for your home all of the harnessed solar electricity that it produces will be free once the system pays itself off, which usually takes 5-10 years, depending on where you live. If you finance your system, you can start saving money from the  first day your system generates power.

Final Words

Although photovoltaic panels’ energy still has a long way to go, their future is looking brighter than it has in the past. It is more efficient, it is better for the environment, and it is less expensive for you. Why should you pay more to power your home when there is finally a better option available?