Solar Panels

Definition: Devices that convert sunlight into electricity using photovoltaic cells.

Relevance to home energy efficiency: Solar panels allow homeowners to generate their own clean electricity, reducing reliance on grid power and potentially lowering energy bills.

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Benefits:

• Reduces electricity costs
• Environmentally friendly
• Can increase home value

Drawbacks:

• High initial installation cost
• Efficiency can be affected by weather and location
• May require regular maintenance

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Statistics: As of 2023, the average cost of solar panel installation in the U.S. ranges from $11,000 to $15,000 after tax credits, with potential energy savings of $10,000 to $30,000 over the lifetime of the system.