What is the Lifespan of Solar Panels?
Solar power in New York can deliver impressive savings over the lifetime of the panels. As far as home improvements go, it’s one of the best that you can make, with an excellent return on investment. One of the key aspects of going solar is the fact that solar panels last so long. What is the lifespan of solar panels? Unlike some home improvements, it’s measured in decades, not years.
How Long Will Your Solar Panels Last?
It’s natural to want to ask: what is the lifespan of solar panels? Durability and longevity will influence your choice to get solar. The longer your investment could last, the more attractive it will be.
Solar panels last a surprisingly long time, and the figure has increased over the years. As it stands today, solar panels will last an average of 25 to 30 years. This is thanks to improvements in manufacturing technology as well as the underlying technology of solar cells.
Solar isn’t just more durable today. It’s also more efficient. That means you can generate more electricity for longer with your New York solar installation.
What Happens to Solar Panels Over Time?
Solar panels degrade at a very slow rate, but efficiency does decrease over time. Degradation is caused by exposure to sunlight and the elements, as well as chemical degradation of the solar cells. It’s important to consider this when asking: what is the lifespan of solar panels?
Generally, solar panels degrade at a rate of 0.5% to 0.8% each year. To put this into perspective, panels usually lose around 20% of their efficiency within the 25-Year Warranty period. After some time, the panels will cease to produce a meaningful amount of electricity, which is why they are typically replaced after the first 25 years.
In terms of the overall investment, this allows for a significant return. Most solar systems have a pay-off period between 8 and 10 years. This means that savings equal to the cost of installation can be generated in the first decade. After that time, the savings that solar generates can be considered a return on investment. They go straight back into your pocket.
Even though the savings decline as the panel efficiency declines, they are still significant. Most families can generate several tens of thousands of dollars’ worth of savings over the lifetime of a solar installation.
In New York, where electricity rates are high and ever-increasing, the savings could even improve or balance out with the loss in efficiency over time.
You will have peace of mind with a warranty and ongoing support under the SMART Solar Program.
Cost/Benefit Analysis for New York Solar Installation
It’s not enough to know that you will save money with solar power in New York. You can learn the details with a cost/benefit analysis. Using our predictive modeling and advanced understanding of solar technologies, we can predict solar output for your home, allowing us to determine the financial benefits relative to the cost of installation.
Our cost/benefit analysis is provided for free as part of our energy savings evaluation. At New York Power Solutions, we want our customers to be satisfied with their investments.
We provide the information. You make the choice.
Talk to the Experts for Solar Power in New York
What is the lifespan of solar panels? In general, solar panels will provide meaningful returns for at least 25 years. That’s plenty of time to enjoy the benefits of your investment. If you’re ready to learn more, you can get your free solar estimate from New York Power Solutions today.