Any discussion about the best energy source ultimately boils down to its cost-effectiveness. As a homeowner, taking steps to ensure that you embrace a sustainable way of living is one thing, but you also need to consider the cost of following such a lifestyle because, in the end, we all have a budget that we need to follow. One common discussion homeowners have is “ Solar energy vs. fossil fuels: which option is more cost-effective?”
Of course, solar energy is better for the environment. But you have to look at which one is the cheaper alternative. Installing solar panels comes with an upfront cost, so carefully weighing the short-term and long-term costs is essential. The article below will discuss the best option for homeowners: fossil fuels or solar energy.
How is Electricity Generated From Solar Panels?
Electricity is generated from solar panels through the photovoltaic (PV) effect. Solar panels are made of many smaller units called solar cells. This is typically made from semiconductor materials like silicone. When light hits the solar panels, photons from the sun strike the surface of the solar cells. The energy from the photons excites the electrons present in the semiconductor material, which leads to an electric field that pushes these free electrons, creating a flow of electric charge.
The flow of electrons generates direct current, which is stored in an inverter that converts it into alternating current electricity. AC is then used in our homes as electricity.
Comparing the Cost of Solar Energy vs. Fossil Fuels
When comparing the cost of solar energy vs. fossil fuels, you must remember that here, you are comparing the technology that is used to capture and transform sunlight into electricity with the extraction and consumption of fossil fuels.
Environmental and financial costs are associated with acquiring and utilizing both energy resources. Let us compare them one by one:
- Environmental cost: The entire process of extracting fossil fuel and making it ready for utilization comes with high environmental costs. It leads to the emission of harmful greenhouse gases, such as carbon dioxide, which is the main contributor to global warming. Moreover, the process of extracting fossil fuels is also one of the major contributors to land degradation, environmental pollution, and habitat destruction. In fact, many organizations and leaders, including the UN, condemn the use of these nonrenewable sources of energy.
Compare this with the environmental cost of generating solar energy; you will realize that the latter has minimal to no impact on the environment. Solar energy doesn’t produce any harmful gases. In this process, the sun’s energy is harnessed with the help of solar panels to produce electricity. Hence, it doesn’t have any severe impact on the environment.
- Installation cost: You may think that the cost of installing solar panels is going to make your pockets empty. But this is not the case. With increasing awareness about using solar energy as a power supply source, the cost of solar panels is decreasing daily. Moreover, you may also be eligible for tax rebates and subsidies upon installation of solar panels. So, make sure to research it before you install the panels. In contrast, the prices of fossil fuels are always on the rise, and as the reserves for these non-renewable resources are depleted, we can expect the cost to rise further.
Which Option Should You Choose?
In the past, it was assumed that installing solar panels was really expensive. However, as innovations and technologies emerge, solar energy will definitely be more cost-effective. Solar energy is abundant everywhere and can be used for multiple purposes.
Solar energy can help you charge your electric vehicles and power supply to your home. It is a great replacement for fossil fuels and can really reduce your utility bills. Although installing solar panels does come with an upfront cost, in the long run, you will experience that it is more cost-effective.
Conclusion
The answer is loud and clear: Installing solar panels is much more cost-effective than using fossil fuels. It is also great for the environment and your pocket. So, if you are planning to install them in your home, rest assured that it is one of the best investments you will make.
Photo by American Public Power Association on Unsplash
