The cost of installing solar panels to a home can be high. With the development of PV technology, the cost of solar panels is decreasing and the return-on-investment is rising. The federal rebates that are available for solar energy make PV panels attractive investments for every home. For a 1500-squarefoot home, solar panels can be purchased for approximately $19,000. Take a look at the various types available for solar panels.
Prices for solar panels
In order to calculate how much solar panels will cost, you should first figure out the total energy consumption of your home. For an average 1500 square foot house to consume 6 kW, it will require at least 15 to 18 solar panels to generate the same amount. Each watt of electricity produced by a solar system will cost you between $2.5-$3 per kilowatt. For the same amount to be generated, more panels will be required if your location receives less sun than the average.
Types of solar power panels
The average house in the United States is 1500 square foot. The average electric bill is around $100 per month. An average household will use between 15 and 18 panels of solar to offset this cost. A typical refrigerator draws 250 watts per day and can run for up to four hours. Consider the average family's energy consumption to figure out how many panels would be needed for a 1500-square-foot house. The average wattage of a solar panel is 37 watts, and the number of panels required will depend on the amount of energy use and the location of the house.
Cost per watt
While electricity costs are rising, solar panel prices have fallen. Installing a solar system can be affordable with recent advances in technology and incentives from federal and state energy departments. 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 installed on the roof
Depending on how big your home is, solar panels can cost anywhere from $7500 to $21,000 for a 1500-square-foot roof. The number of panels and their size will also impact the price. 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. There may be a need for more panels if you live in an area with trees or buildings that block the sun from your solar panels.
Tax incentives
You can save money by using solar energy to power your home. The federal government offers several incentives for solar installations. If you qualify, you may be eligible for a dollar per-dollar tax credit or a 25% federal tax credits, as well as a sales exemption. A $500 tax credit can be earned each year. Depending on your solar system size, you might even qualify for an exemption from the property tax
Leasing solar panels
If you're considering installing solar panels in your home but don’t want to invest a lot upfront, leasing solar panels might be a good option. These panels are very affordable, and you can save between $50 and $100 a month on your power bill. The panels can be leased instead of purchased, with a minimal down payment. You'll also save money on installation and maintenance fees, which you'll have to pay to the leasing company. In addition, the leasing company will charge you to transfer the lease.