The popularity of residential solar panels is growing fast with the rise in energy prices. Coupled with the economic slide down, home owners are hard pressed to meet their expenses and pay the bills and high power costs are breaking their backs.

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Did you knew that Global revenues for solar photovoltaics, wind power, and biofuels expanded from $76 billion in 2007 to $115 billion in 2008.

New global investments in clean energy technologies — including venture capital, project finance, public markets, and research and development — expanded by 4.7 percent from $148 billion in 2007 to $155 billion in 2008.

Clean Edge suggests that the commercialization of clean energy will help countries around the world pull out of the current economic malaise.

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Residential solar panels promise uninterrupted supply of power as solar energy is renewable. Even with wind power, you need a backup solar system in the event of the wind speed going down below 10 miles an hour. As fossil fuel prices are shooting up, tapping into the rays of the sun has become an obsession for many persons all around the world. People who live in countries where the weather conditions are harsh, solar energy helps them get power when traditional sources for electricity fail. If you live in places where power outages are common, then you know how bad it is.

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According to the Department of Energy the average household in America consumes 10,656 kilowatt-hours (kWh) per year. At an average retail price of 11.35 per kWh this means the average annual electric bill across the US is $938.85.

If you can save, let’s be conservative and say it only helps you reduce your bill by 80% per year. This would be a yearly savings of $751.08 for you.

So you can understand how important an beneficial will be to install residential solar panels in your home or business, all you need is a clear space and you are done.

Types of solar panels

Primarily, there are two types of residential solar panels, a stand alone system and the grid-tie system. You connect the power grids to the electric grids, but in the stand alone type, it is not connected to the electric grid. Between the two, the grid tie system is more costly than the stand alone system. It has been reported by residential solar panels users that by implementing the solar energy system they can effectively save up to 80% in electricity bills.

Residential Solar Panels with a DIY System

With time, many have been able to go off grid. Once your home is powered by solar energy, you immediately lower the demand on fossil fuels even though the amount may be peanuts compared to what others are using up. But you can set a trend as others would soon begin to emulate you in saving the environment and go in for cleaner energy.

And if your residential solar panel is the grid tie type, you can sell all the excess electricity to the providers. Most of the solar panels are made by companies that are available all over the internet.

As they are expensive, very few make and install. But many people are going in for DIY with simple materials available at a hardware store near them to make residential solar panels. Before reading the other pages in this Renewable Sources of Energy website, make sure that you sign up to my free 6 part Renewable Sources of Energy mini course, including How to Become Energy Independent Secrets.

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