Installing solar panels on a home can be an expensive process. 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. A 1500-square-foot house with solar panels will cost you approximately $19,000. Check out the different types of solar panel to get you started.
Solar panels are priced
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. A solar panel system generates watts of electricity at a cost that is usually between $2.5 to $3 per kilowatt. This price will depend on the size of your house. Keep in mind, however, that you will need more panels to produce the same amount of electricity if your area receives less sunlight than the average.
There are many types of solar cells
The average American home measures 1500 square feet. The average monthly electricity bill is approximately $100. 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. For a 1500 sq. foot house, you will need to consider the energy use of a typical family. A solar panel's average wattage is 37 watts. The number of panels needed will depend on how much energy is used and where the house is located.
Cost per Watt
While electricity prices are on the rise, solar panel systems have seen a dramatic drop in price. With recent advancements in technology and incentives offered by federal and state energy departments, the cost of installing a solar system is an affordable and rewarding option. In just a few years, solar panels can help reduce your monthly expenses as well as provide you with a return of your investment. A 1500-square foot house with solar panels can cost between $7200 and $20160 per watt depending on the size of its system and the size of its panels.
Solar panels installed on the roof
The cost to install solar panels on a roof for a 1500-square foot home can vary depending on its size. Prices can go up to $7500 to $21,000. Also, the number of panels installed will impact the price. An array of solar panels installed on a house that doesn't receive direct sunlight will need more panels than one placed in a sunny location. 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. Federal incentives are available for solar installation. You can get a dollar-for-dollar tax credit, a 25% federal tax credit, and a sales tax exemption if you qualify. A $500 tax credit can be earned each year. You may be eligible for a property tax exemption depending on how big your solar array is.
Leasing solar panels
Leasing solar panels is an option if you are considering installing solar panel on your home but don't want a large upfront cost. You can save as much as $50 to $100 per month by leasing solar panels. The panels can be leased instead of purchased, with a minimal down payment. In addition to saving money on installation and maintenance fees that you will have to pay to your leasing company, this also allows you to make a significant savings. Additionally, you will have to pay for the transfer of your lease if it is time to move.