Solar cells as a retirement plan

Using solar energy as a green source of energy in your home may still represent an high initial cost for the solar cells. Currently, prices of highly efficient solar cells can be above $1000, and some households may need more than one. This makes the initial installation of solar panels very costly.

However, the benefits of using this green source can be greater than expected as many jurisdictions force hydro utilities to re-purchase the excess you produce and don't use for your own home. Some homeowners have even taken up the idea as a retirement plan and erected a mini-farms of high efficiency solar cells. A few are claiming that the financial yield after a few years is greater than "banking" for their retirement would have been. Maybe "banking" the sun, is really a good idea.

Of course, years with record rains and record cloud cover like this one in the north east, may put a damper on all this given the dependence on hours of sunlight. If you own a home, their are a number of things to consider. Obviously, a heavily shaded house with lots of foliage casting shadows is not the place to erect solar panels. You'll want to consider all the factors before choosing to go solar, and should be even more prudent if your counting on it for your retirement.