Economics of residential solar panel installations

Are you considering buying a solar panel for your home? Solar energy is changing the way we live. With depleting fossil fuels and rising energy costs, the shift towards solar energy is now faster than ever.

Solar energy entails the use of sunlight and advanced technology. It involves converting the sun’s rays into electricity for residential and commercial areas.

Apart from being a clean, sustainable energy source, solar energy is cost-effective in the long term.

Here is how solar panels contribute to household savings:

Electricity bills

If you’re looking to reduce your energy bills, you should switch to solar energy. Solar energy can dramatically reduce your energy bills. In fact, installing solar panels leads to consistent electricity costs throughout the year.

Solar energy is constant and free. You don’t need to pay anything to produce it. But, you will have to pay for the initial panel installation cost. Although the initial installation cost is high, it is much more economical than using conventional energy sources – coal and gas.

Due to overconsumption, conventional energy sources have been shrinking. Limited availability can cause a hike in energy prices. With solar panels, energy production depends on sunlight. It is not affected by the market dynamics (demand and supply). Therefore, solar energy can help you reduce or eliminate energy costs.

Employment generation

With the rise in solar panel installations, the domestic industry has witnessed a substantial job growth. The number of solar jobs has doubled in the country in the past 5 years. On the other hand, oil and gas firms slashed nearly 17,000 extraction jobs in 2015, as energy prices declined. More solar jobs have a positive impact on the economy.

Real Value

Solar panels can affect the value of your home. Several studies show that solar panels boost sale prices of homes.


Solar energy reduces carbon footprint and greenhouse gas emissions. They can protect the environment and individuals from global warming. Thus, solar energy is a healthier energy source.

For reliable solar panel installation in San Diego, contact us. With over 9 years of experience, SunWalk has been installing an array of solar systems, including solar panels and solar water heaters for our clients. We also offer complete service at great prices. In addition, we provide maintenance and support services.

We cater to residential, commercial and industrial clients. Call (888) 466-8972 for a free consultation.