Since you desire to build your own solar panel, you are most likely an environmentally responsible person who also wants to reduce your energy bills significantly. You can easily have what you want — to reduce the total cost of owning solar energy panels and preserve the environment.
Many homeowners like yourself have made cheap solar power generators for their home and eliminated their energy bills for good. This method is one of the most cost-effective ways to cut cost. Let’s take a peek at how much money these families saved with DIY photovoltaic panels and more importantly how they did it.
The average electricity bill for a typical household works out to be about $3,600 a year — roughly $300 is spent every month on energy. For many people, that is almost 10% of their disposable income after paying for tax. This is a huge amount to pay your local power company. Naturally, this money can be better spent if it wasn’t used to pay your bills.
In ten years time, you’d have spent $36,000 on electricity. If you take inflation into consideration, you’ll have spent much more. A conservative inflation of 3% per annum will bring your total energy bills to more than $41,000.
When you build your own solar energy panel, you are likely to own it for at least 25 years. Your energy bills (taking inflation into consideration) will cost you more than $131,000 over that same period.
Therefore even if you make very expensive mistakes and explode your cost of solar energy panels to $30,000, you will still save about $100,000 (in energy bills) over the lifespan of your solar power generator. But homemade solar energy panels rarely cost that much. Retail panels do. When you roll up your sleeves to make your own panels, you can pocket the difference. The quality and lifespan of DIY solar energy panels will not be very different. The cost of owning them will. Thus you’ll actually be saving much more than just $100,000.
Initially, it seems like solar energy panels are going to cost you money. Yet in reality, they help you save quite a bit, enough to be a major contributor to your retirement fund if you want it to. Therefore you can consider it as an investment. An initial investment of $10,000 (it won’t cost that much, really) gives you back $100,000 in savings, which is 10 times return on investment over 25 years. Can you really find anything comparable to this on Wall Street?
The best action you can take for yourself this year is to build your own solar panel. The sooner you build it, the earlier you reap the rewards of your labor.
John Greenspan is an expert in DIY solar panels and has build several solar power generators in his spare time. Are you interested in building DIY Solar panels? Pick up your FREE “How To Build Solar Panels” eBook at => http://www.diysolarpanelsworld.com
Article Source: Build Your Own Solar Panel – Does It Really Lower Our Electricity Bills?