Solar energy is free however the tools that will allow you to harness this free energy aren’t.
If you’re planning to set up a solar energy system right at your home and would like to understand how much it would cost, you will find 3 things you need to consider:
First, the cost depends on how much power your home requires. More energy you require indicates more solar panels and higher cost of installation. The great thing is, the technology to harness the energy of the sun is fairly cheaper than it was a number of years ago.
Second, the government is offering a rebate to those who will change to alternative form of power. That means, the federal government will shoulder a portion of the total cost of the system.
Third, you can get tax credits when you change to solar energy system. The amount of tax rebate is dependent from state to state however the variety can go from $1000 to $2000.
All these affect the general cost of your installation.
A photovoltaic system can cost roughly at $8000 to $10000 per 1kW system. This equates to $8 to $10 for every Watt. An average American home with three bedrooms demands a minimum of 1.5kW to as much as 3kW. Therefore, installation can cost from $14000 to $30000, before rebates and tax credits.
Federal government rebate varies from state to state. As a reference, an typical California household that requires one.5kW system can get as much as $4200 rebate (1.5kW= 1500 watts x $2.80 per watt = $4200).
A household that requires 3kW system could possibly get as much as $8400 (3kW= 3000 watts x $2.80 for every watt = $8400).
Before, tax credit goes as much as 30% but it is lowered to 7.5% of system cost right after rebate.
And so an typical home with 1.5kW system could possibly get $735 ($14000 – $4200 x 7.5% = $735) well worth of tax credit although the 3kW system can get $1620 ($30000 – $8400 x 7.5% = $1620) well worth of tax credit.
Instance A: 1.5kW system
Cost of pv electric system: $14000 Less rebate: $4200 Less tax credit: $735
Cost of the system after rebate and tax credit: $9065
Instance B: 3kW system
Cost of pv electric system: $30000 Less rebate: $8400 Less tax credit: $1620
Cost of the system after rebate and tax credit: $19980
Again, they are rough estimates just to provide you an concept of the cost of installing solar energy system. They do not represent real figures.
Top ideas:
Energy independent home has higher resale value and is a lot more preferred by home buyers. As a result, if you are planning to market your home in a number of years, installing solar energy system does not just provide substantial saving on electrical bill, it also is a great home improvement option.
If you want to finance the cost of your solar energy installation, consist of it in your mortgage.
If you would like to decrease your electricity load, change to energy efficient appliances. Buy electrical appliances with Energy STAR seal.
Low power requirement signifies lower set up cost.
Residents of places with greater electricity rate can benefit most on solar energy system.
If you can’t afford the photovoltaic system, you are able to install solar hot water system that costs roughly from $2000 to $4000.
Solar energy is best for houses which are located far from the current power lines.
Lastly, you got to check out the Energy Saving Method – Solar Power that save the earth and my bill too. I didn’t know that I can make my own solar panel that only costs me less than one thousand dollar.
