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Solar Panels for Home

Are Solar panels for home a good investment?

No matter where you live, there are 2 main factors that determine whether going solar is a worthwhile investment:

  1. The amount of available sunshine. The more sun your home receives, the more electricity your solar photovoltaic (PV) panels can create.
  2. The price of grid electricity. The more expensive utility power is in your city, the more money your solar PV panels will save you.

However, Dubai is in a unique situation. We have 365 days of pure sunshine. But our grid electricity is relatively cheap.

Against this backdrop, does it make sense to install solar panels?

For most homeowners in the region, the answer is “Yes.”

Why Dubai Is Quickly Becoming a Solar Hotspot

Going solar in Dubai might not offer the same savings you’d normally see in markets like California or Spain – both of which have abundant sunshine and expensive grid electricity.

But the savings are still very impressive.

This is especially true if you enroll in DEWA’s net metering program – an incentive that allows you to send surplus solar electricity into the grid in exchange for utility credits:

  • When you feed excess solar electricity into the grid, your bidirectional utility meter spins backwards.
  • When you take electricity from the grid (usually at night), the meter spins in the normal direction.

At the end of each billing cycle, you only pay for the “net” difference in electricity fed and used. And any credits generated can be applied to future bills, which helps to make your solar savings even larger.

Those savings become larger still if your home is frequently empty during the day – either because of work or travel. All the electricity from your PV system goes straight into the grid to generate utility credits.

DEWA’s net metering program partially explains why the payback period for residential solar installations in Dubai is around 7 years – which is on the “shorter” end of the global average of 7 to 15 years.

So if you plan on living in Dubai for 7+ years, going solar is a fantastic investment.

Are Solar panels for home a good investment?

What Happens If I Move before My Solar Panels Break Even?

Dubai is a very transient city, with people coming and going all the time. So does it still make sense to install solar panels if you don’t expect to be around long enough to reach the payback period?

Yes. And here’s why.

Solar-enabled homes sell and rent for more than non-solar ones do. And often, the difference is stark. According to the US National Renewable Energy Laboratory (NREL),

“Home value increases $20 for every $1 reduction in annual utility bills. So a solar energy system that saves $200 per year would also add $4,000 to the value of a home.”

These stats are specific to the US. But the basic concept still applies to Dubai. Future buyers and renters will gladly pay a premium to receive guaranteed utility bill savings. This benefit also explains why solar homes spend less time on the market.

In addition, installing PV panels can help dramatically reduce your carbon footprint. And as a result, the entire planet benefits from cleaner air and less pollution.

Ready to Go Solar in Dubai Today?

If you’re looking for a great investment that delivers property value increases – plus measurable financial and environmental savings, Al Shirawi Solar can help.

To get started, request a free home inspection from our solar experts today.

Read our blogs;

Why Dubai Homeowners are Going SOLAR

Shams Dubai

 

Get in touch for a free consultation!

There’s never been a better time to go solar.

Get in touch for a free consultation!

There’s never been a better time to go solar.