In 2023 the USA alone generated around 4,178 billion kilowatt-hours (kWh) of electricity with an average 21% coming from renewable energy sources. This means 876.18 billion kilowatt hours were generated by renewable sources.
Many people install solar panels from solar energy experts, but overlook the benefits of a solar generator. Whether you’re a commercial business wanting to have a reliable backup source or you’re a residential property in more remote areas, this guide will showcase the economic advantages of installing a portable solar generator on your property. Let’s take a closer look.
Initial Installation Cost vs Long Term Savings
Solar generators can cost anywhere from $1000 – $3000+ for the initial purchase and installation. The initial cost can sometimes be daunting for property owners, however the long term savings of a solar generator over its lifetime can offset the initial costs.
For example; let’s say the generator you chose costs $1500 and the warranty on it is five years. This would equate to $300 per year. On average, if the generator lasts only five years, you’ve only spent an equivalent of $300 a year for it.
On top of that, let’s say your energy bill per month is around $300. As an estimate, with all the government incentives and the power created from the generator, you save an average of 20% off your monthly power bill bringing it down to $240 per month. Over the five years you could save $60 per month with an average of $720 per year, or $3600 for five years.
This has essentially paid back the generator twice over during its five year lifespan (most generators last longer than this as well). As you can see the initial installation cost, vs the long term savings is well worth looking into when considering the economic impact of installing a solar generator on your property.
Savings Through Energy Dependance
Solar generators, like the Growatt solar generator and other branded generators, offer property owners a stable and independent source of energy. This can be seen in the following ways:
- It uses the sun to store energy ready to power a property during blackouts or other emergency situations.
- It reduces the need to rely on external power grids.
- It allows you to utilize energy without the risk of future price fluctuations.
- It promotes a long term power solution for remote locations.
Relying on solar power vs the main power grid is a great way to gain more independence over not only your power needs but also your power costs. Just remember like any solar power setup which has solar panels, it will need to be cleaned regularly to ensure maximum sunlight absorption.
Financial Stability
Solar generators can help improve your financial stability for both your home and/or your business. These generators can help promote financial stability in the following ways:
- Reduces energy bills: Because they generate renewable energy from the sun, solar generators have the ability to help lower your electricity bills. The money you save on power can help to go towards other living or business related expenses.
- Increases property value: Properties which have solar generators installed tend to have a higher resale value. Some buyers like the idea of properties which can save them money in the long term.
- Protection against energy increases: With the economy strained across many countries, going solar has the ability to help protect you against energy increases. Energy increases can be caused by things such as geopolitical events, market fluctuations, supply chain disruptions, and global crises. With a solar generator you have the ability to maintain stable and affordable power during these energy increases.
Government Incentives and Benefits
In some countries around the world, there are some governments which provide incentives and benefits for those who install solar products on their property. The solar initiative has been booming over the current years with more and more people looking to switch to renewable energy. Some of the incentives you may receive, depending on the country you reside in, could be:
- Tax credits when a solar system is installed within a tax year.
- Rebates for property owners who purchase and install solar setups.
- Feed-in tariffs which are paid when excess energy is fed back into the grid from your solar system.
These are just some of the many benefits and incentives which are setup by governments across the world.
Endnote
Portable solar generators have the ability to provide clean, safe, and stable power throughout the year. Whether you’re a business owner looking to have a reliable backup for your company, or you’re a homeowner wanting to be prepared for an emergency, solar is a great option to choose. Make sure you do your research to find a reputable solar product supplier.
Also Read: Johannes Peschel: The Kite Surfer of Renewable Energy
