While solar energy looks like the answer that solves every problem, there are a few deficiencies that must be considered before you commit to the investment needed to power your home. The least of these issues is the upfront cost of the equipment that you will need to begin tapping into the sun’s potential.
While only few people have the cash laying around for such an investment, it may be difficult to get a loan from a bank for solar energy investment purposes.
The other factor that you must consider has to do with the fact that the costs of the initial investments change from year to year. This happens because manufacturing costs change and so do government tax breaks and subsidies. A careful eye for impending legislation is helpful but it can be difficult to predict what type of tax incentives may be put into effect next year, as opposed to this year. However, you still want to analyze the costs during various years to see if you can save money by waiting or by acting quickly.
Solar power is dependent on the sun shining. If it rains all day or you wish to have electricity at night, alternative power may be necessary together with the batteries that can store the excess energy for when you need it.
Solar energy is also out of sync with the daily demand that is placed on it. When the human demand is at its peak, solar power has already passed its prime for the day, and vice versa. Water heaters are not affected by this since they store the product of their peak production (warm water) until it is needed.
One solution to the above problem is to install batteries that will store the electric power until it is needed for use. You can also tie the solar system back into the electric company’s grid.