How much for solar panels? Are they worth buying as home improvements? Solar panels can be expensive, but the money you save on your electricity bill will pay for the system in seven years or less, which is where buying solar is more expensive. A five-year payback period is not uncommon, but even if it takes seven years, you'll continue to save money after that.

Solar power generation systems are also known as solar photovoltaic (PV) systems. They work by collecting solar energy through solar panels, which are usually mounted on rooftops, but in reality they can be installed almost anywhere. The collected solar energy is converted into alternating current (AC) by an inverter. While the solar panels only work during the day, the battery storage unit can use excess power at night.

Solar power has gone through two stages. Until around 2011, solar panels were expensive and had a payback period longer than the actual life of the panels. After a slow decline since 2011, the price of solar panels has stabilized and is far more affordable than in the past.

Solar panels have also become more efficient and reliable. In the past, solar panels were expensive and most homeowners bought smaller systems of less than 2kW. Today, a 5kW system costs about the same as a pre-2011 2kW system, and is a better system because it meets most, if not all, of your energy needs.

How to get the right size solar system.

The solar panel system consists of several panels, and the size of the system depends on the number of panels and the efficiency of the panels. Estimates vary, as solar panels can be installed in areas with little or plenty of sunlight. Solar panels can also be installed on roofs that are partially shaded during the day but less efficient.

Solar power is measured in terms of "self-consumption," which is how much energy you use in a day. Below is an estimate of how much energy a 5kW to 10kW system in kilowatt-hours (KWh) would save at different levels of energy consumption:

5-10 KWH will save 30%.

11-15 KWH will save 48%.

21-25 KWH will save 66%.

31-40 KWH will save up to 82%.

Getting a solar system that's too big for your family isn't a problem, but you don't want to get a system that's too small for your family. Solar retailers and installers can help you find the perfect system for your needs.