One of the ways to save on the electricity bill and reduce consumption is to bet on solar panels. They are becoming more common and more and more families, homes and companies are using this type of renewable and free energy in order to reduce the payment of electricity bills month by month and reduce the consumption of other energies. Although it is free, it requires an installation and maintenance cost … Therefore, to know if it is worth it or not, there is something that we always ask ourselves: how many years does a solar panel last and what is its useful life if we want to install one?
To know whether or not it is worth installing this type of plates to save on electricity, we must know if the investment is going to last us many years or not, but also how long it will take to amortize what we have paid for them.
How much does a solar panel cost and how long does it last?
The installation of a solar panel will depend on the ones you want to add. It depends on the size of the installation or the peak power, the quality of the components or the difficulty to do the installation. It depends, of course, on the energy you need because you will have to put more or less plates with more or less consumption.
It will depend on the quality of the panel that we use that has a useful life or another. In addition, there are also other factors that influence whether or not they break down over time, and one of these factors is the weather, which will influence whether or not there are storms, for example, or if you live in an area where hail or snow. As is logical, these factors and inclement weather will cause it to be damaged sooner than in a city where the weather is always good. But generally everyone is prepared for this and we won’t have a problem because the average duration of a solar panel is 25 or 30 years …
How long will it take to pay it off?
It depends. It depends on many factors that it takes us one time or another to amortize a solar panel. The main one is the weather and the conditions of the place where you live because you will not save the same in a place where it is always sunny than in one where it is always rainy, stormy or always cloudy. It is one of the factors that we must take into account and that will affect the time it takes to amortize it.
The amortization or Internal Rate of Return of a solar panel takes into account the price of the installation and the annual energy savings. This will depend on each house, the consumption we make, the city, each routine, each family . And we must take into account the price of light, the changes, the evolution, the consumption we make and the production that the panel we have installed is capable of having.
But if we consult with specialized companies, it is estimated that the amortization of the installation can be between the first five or ten years approximately and in most cases. Considering that the plates can last several decades, it would be worth the installation to save month to month on the bill.
