Solar panels for a home can prove costly. The costs of installing solar panels on a home are declining and the return is increasing with the advancements in PV technology. Federal rebates are available for solar power, making PV panels a great investment. Solar panels cost approximately $19,000 to install on a 1500-square feet house. You can check out the various kinds of solar panels to get started.
Solar panels are priced
First, calculate the total energy use of your home to figure out how much solar panel cost. A 1500-square-foot home consumes approximately 6 kW of electricity. To produce the same amount of energy, you will need 15-18 panels. Each watt of electricity produced by a solar system will cost you between $2.5-$3 per kilowatt. You will need more solar panels to generate the same amount if there is less sun than usual.
Different types of solar panels
In the United States, the average house is about 1500 square feet. An average monthly electric bill costs around $100. An average household will need between 15 to 18 solar panels to offset this expense. A typical refrigerator consumes around 250 watts of electricity and operates for four hours each day. To understand how many panels are needed for a 1500 square foot house, consider the energy usage of the typical family. A typical solar panel produces 37 watts of power. The amount of energy used and the location of your house will determine the number of panels you need.
Cost per Watt
While electricity prices are on the rise, solar panel systems have seen a dramatic drop in price. Recent technological developments and incentives offered by the federal and state energy department make it affordable and attractive to install a solar panel system. Solar panels can reduce your monthly expenses, and provide a quick return on your investment. For a 1500-square-foot house, the cost per watt of solar panel can be between $7200 and $20160 depending on its size and the size the panels.
Solar panels for the roof
The price of solar panels for a 1500-square feet home will vary depending on its size. It can range between $7500 and $21,000. For a solar panel installation to be effective, a house in direct sunlight will need a greater number of panels than one that is located in a sunny spot. You may also have to purchase more panels than you need if there are trees or buildings in the area that prevent your solar panels from getting full sunlight.
Tax incentives
Using solar energy for powering your home can be a great way to save money and reduce your carbon footprint. The federal government offers many incentives for solar installations. If you qualify, you will be eligible to receive a dollar–for-dollar tax discount, a federal tax credit of 25%, and a sale tax exemption. A $500 tax credit is possible each year. You may be eligible for a property tax exemption depending on how big your solar array is.
Solar panels leasing
If you're thinking about installing solar panels on your home, but don't want to pay a high initial cost, you can consider leasing solar panels. These panels are extremely affordable and can reduce your monthly power bill by between $50 and $100. You can lease the panels instead of buying them, and there's little to no down payment. It will also help you save money on maintenance fees and installation, which you'll be responsible for paying to the leasing company. You will also have to pay to transfer the lease, if you choose to move.