Investing in solar energy is rewarding and funding has made it more profitable than traditional investment methods. While these fundings have been restricted in many countries, solar remains an excellent investment solution, if you do it right.
Traditional fossil energy sources, such as carbon or fossil oil, are undeniably harmful for the environment. As a result, more and more consumers are considering green energy for their households, but obviously prefer an easy and affordable path. By installing their very own solar panels, they can self-sufficiently produce their own energy and maybe even earn a little extra income by feeding surplus energy into the grid (however, this is subject to feed-in tariffs).
The basics: How is solar power generated?
The method behind the generation of solar power is rather simple: it is produced by a photovoltaic (PV) installation, which has various components. The solar panel produces the energy from the sunlight it is exposed to. Multiple solar cells form a solar module, and multiple modules form a solar generator. The inverter makes the power usable and allows it to be fed into the grid.
Maximizing results by choosing the right factors
Solar energy is free and accessible for everyone, however, there a limitations. The major and most obvious one is, of course, the size of the rooftop, which also limits the size of the solar installation. Apart from that, the direction and angle of the rooftop determine the length of time that the installation will be exposed to the sunlight – and thus the generated energy. Lastly, the geographical location plays a role as well, as more Southern areas have longer daylight hours.
How to finance a solar installation
During the acquisition and setup of a solar installation you might face some financial obstacles. Many banks offer credits to make this step possible for their clients. When hesitating, consider the fact that, even with the feed-in tariffs, a large energy production can generate some extra income.
Choosing the perfect inverter
The solar panels of the solar modules can only produce direct current (DC). For this to be fed into the grid, it must be transformed into alternating current (AC) by an inverter. This makes it a crucial element of the solar installation and is the reason for their costly price of up to 15% of the overall cost of the installation. Even though the inverter only lasts for about 10 years (remarkably less than the installation itself), make no mistake in choosing a cheap model, as these waste much energy during the transition and can thus cause a financial loss.
Factory warranties for inverters usually cover only the first 5 years after commissioning. Milk the Sun offers warranty extensions to reduce possible risks and losses.