How Expensive Are Solar Panels

How Expensive Are Solar Panels For Your Home?

Day by day the need for electricity is increasing because of the growth of industry and also for the growth of the population. It is becoming hard to provide a huge amount of electricity by the government. That’s why people are choosing solar panels to fulfill their needs. The solar panel provides electricity without any charge which saves the cost of the people.

But that doesn't mean that solar panels are totally cost-free. There is a one-time cost for solar panels. The cost of the solar panels for one’s home can be between 18,000 dollars to 20,000 dollars. The cost depends on the amount of energy use in the home. That means the average cost per watt is 2.4 dollars.

How Expensive Are Solar Panels For Your Home?

Things To Consider Before Installing Solar Panels For One’s Home

The cost of solar installation has dropped in the last few years. Previously people had to spend like 8 dollars per watt. But now it only costs 2 to 3 dollars. If anyone wants to install solar panels then they must consider a few things that will eliminate the cost and also will provide the expected electricity.

The climate of the area- The climate is a very important issue that you must think of. As we all know that solar panels use sunlight in order to generate electricity. Therefore it means more sunlight will generate more electricity. Determine the area where your home is situated. If the area gets proper sunlight, then ultimately your solar panel will generate more sunlight and you will be benefited.

On the other hand, if your house is situated in an area where you get a low amount of sunlight, then I hope there will be no such benefits from the solar panels. In areas like Arizona, California, Los Angeles, people will get more benefits by installing solar panels as these areas get more sunlight than other areas.

Determine the Electric bill- The average cost of an electricity bill can be 100 dollars to 200 dollars per month in America. The bill depends on the uses of electricity of one's home. If the electricity bill cuts off a big amount of money from your pocket, then it would be wise to switch from the traditional way to the modern way. I mean you should install solar panels for solar light. The solar panels will eliminate the electricity cost and will save you money. It will just cost you once.

Solar Panel installation cost in your area- While installing solar panels for your home first of all you need to calculate the total cost of your regularly used energy. One can simply find the number from the electricity bill. Then you have to determine what size of the solar panel will be able to generate needing amount of energy for your home. You can find tools like the solar estimate calculator to get the right size that will be able to generate the exact energy for your home.

Basically, most solar panels are designed with low maintenance and can last for a very long time. There won’t be any big issue without just a slight decrease in the amount of electricity.

Government trade policy- The installation cost of the solar panel can also vary for the change in the trade policy by the government. Like recently the government settled 4 year tax on imported solar panels. This tax adds 16 cents to the average cost per watt. The cost was too high for the consumers. So it would be wise to check the trade policy provided by the government in order to save money in the installation process.

Incentives- One can get benefited by looking for incentives. The government provides great incentives to those who install solar panels in order to get electric energy. But one shouldn’t think that they can get the money. The benefit can be used to eliminate the cost of the tax. Or can reduce the cost of the solar panels. Also, one can get much benefitted by depending on the state where they live. The government provides cashback and also one can simply escape the tax of their land and property.

There are some areas where people can sell their extra energy generated by the solar panels to the local industries which adds money to the pocket.

These are the few important considerations one should follow before installing a solar panel. Rather than these one can also compare between their local service providers to install the solar panels at low cost.

Some Additional Cost That You Have To Know

There are some additional costs of solar panels installation. These costs are a must in the installation process.

These costs are:

  • We all know that to install the solar panels one must need laborers. The labor won’t work free for you. Labor will charge a decent amount of cost. The labor cost depends on the area where you live.
  • You will need racks in order to hold the solar panels on the top of your house. The rack will add cost to the installation.
  • The solar must need an inverter. The work of an inverter is to change the DC power into AC power. We all know that our home electric devices need AC power in order to work. But the solar panels generate DC powers which must need to be transformed. That why the inverter is very important. The inverter also costs extra money.

These are the additional cost. Also, there may be permit costs and taxes for installing the solar panels.

Solar Batteries

The solar generates energy on the sunny days. That means there won’t be any energy on a gloomy or rainy day. But there is an alternative way to get electricity on a rainy or gloomy day. The way is using solar batteries. The solar batteries store energy in order to provide electricity when the sun is gone which will be a great help. But adding solar batteries can add cost a decent amount of money which will be an additional cost.

How much do solar panels cost?

The saving of the cost depends to the area where you live. As we mentioned before that you will get more energy in the sunny area and which will save more money. But solar panels can cut off 75 to 80 percent of electricity bills per month and save a huge amount of money.

Final Words

Solar panels are the best alternative of the traditional way to get electricity. Solar panels save a good amount of money. There are many advantages of solar panels. To know the advantages and to know the cost read this article. This will help you in many ways in the installation process. Also, there are some disadvantages of solar panels. Like in a rainy season or in the winter season when the sun doesn’t shine. We have discussed the way to get electricity in these times.

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