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Build Your Own Solar Panel - Can You Really Save On Electricity Bills?

By John Greenspan

Republish: EasyPublish™ Published: 12Feb2010 Word count: 438 Viewed: 538 time(s) Get Free Content For Your Site

If you want to build your own solar panel, you are likely an environmentally responsible person who also wants to cut down your energy bills at the same time. The good news is you can get what you want and more -- you can reduce the total cost of owning solar energy panels.

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. We'll take a look at how much these families saved with DIY photovoltaic panels and 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.

At first, it feels like solar energy panels are supposed 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.

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