You need to know the full solar panel cost in order to take full advantage from them. Even after paying the purchasing price, putting them together is the second most costly affair.
“But how much would solar panels cost?” is a very common question I hear everyday. The cost may vary as it is dependent on various factors such as where do you live, sunshine you get and amount of energy you use.
The place you live determines the amount of sun you get everyday. You must get a certain amount of sunlight to generate enough power for your daily use. The sunlight received also depend on the place where you hung your panels. The factors to be considered are angle, direction and shade. The solar panels work best when facing towards south, at angles varying from 15 to 40 degrees.
The amount of energy you use could be determined by using a process developed at the NREL (National Renewable Energy Laboratory).
You will need your electricity bill to figure out the amount of energy you need for your daily use.
1. At first, divide the total units of Kilowatt Hours (KW) by 30.
2. After determining the KWH used per day, divide it by average number of full sun hours per day.
3. The quotient is then multiplied by 1.15 to give a comfortable margin.
You can look at this example to know how exactly it works.
1. 500 KWH / 30 = 16.67 KWH per day
2. 16.67 / 7 = 2.38
3. 2.38 X 1.15 = 2.74 KW or 2,740 watts of energy needed for solar panels.
According to NREL, it costs around 7$ or 9$ per watt on an average to install a solar panel if get it installed by a licensed professional. As few of the rebates may require a licensed contractor, the latter one is recommended. The average includes the cost of the panels, mounts, wires, inverters and hardware. If we use the above example, this system may cost you around 24,660$ to install along with inspection and fee charges which could be added up to another few thousand dollars.
It might look like a very huge investment, there are local, federal and state incentives to go solar. Solar users pays a federal tax of around 2000$ per year. Many states rebate part of your purchasing and installation costs. A lot of Local energy companies buy your excess energy, which helps to get your overall bills reduced. So, consumers can reap few of these incentives.
Most of the people shy away from installing solar panels thinking them to be too expensive and cumbersome.
You will, however, be surprised to know how easy it is to build homemade solar panels with Earth4Energy.
You can have your own homemade solar panel set up by you at a cost of less than $200. For more info, please visit: Earth4Energy Review
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Posted under Solar Panels
This post was written by assistant on August 8, 2011


