There are many reasons why to invest money in photovoltaics and many criteria for evaluation:
Return of investment (payback period)
If you're thinking of investing in PV and wondering whether solar system is a good investment, be aware that reasonable balance between amount of investment and optimal technical solution is key issue telling you how long it will take for your solar panels to pay for themselves. A higher initial cost to install the system will need to be balanced with how much money you are able to save by using the renewable electricity it generates, rather than buying electricity from your grid and provider. Hot water management isn't so costly like on-grid or hybrid system including energy storage, but doesn't allow you to make electricity for your home appliances and save additional money. There are many variables that could change the savings you could make by using the renewable electricity your system generates.
Nearly nobody considers, that electricity price increases and it will affect significantly how much you save on your electricity bills by using the electricity generated by your system. The higher electricity prices go, the greater your savings. On the other hand, cost of PV installation has fallen over the past few years. Now it's more or less stabilized, but expected to be even lower depending on development of high-efficient PV panels. The higher market share of electricity from renewable sources, the higher price of electricity from conventional energy sources due to the growing production costs.Nowadays, payback time is significantly reduced thanks to EU funds. You can draw donation in amount of 1.500 EUR per installation.
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Sustainable development and responsibility for future
Everyone is also responsible for their footprint. Planet Earth has been home to humans for hundreds of thousands of years, and it’s time to think about how to keep it for our children and next generations and how to contribute to climate stability. Effects of global warming are already being felt around the world and have significant impact on hundreds of species. The most dramatic effects may be felt in last decade.
Photovoltaic panels are a way how to reduce our footprint and they are one step forward in looking for progressive solutions for future generations.