How much will be the average price of pv solar panels

How much will be the average price of pv solar panels

If you're thinking about obtaining solar panels installed you will most likely want a ball park figure on just how much it's going to cost. You'll want to know a total figure rather than the cost of an individual panel and find out if they're a financially viable investment.

You will find a number of reason people choose solar PV or photovoltaic panels. These are the panels that turn light into electricity. Until recently the overriding factor has most likely been environmental considerations. You would like to decrease your carbon footprint and make a green statement.

Recently however individuals have been installing a solar PV system from purely monetary reasons with ethical considerations not even playing a factor. So does it make sense to pay to obtain them installed? Will you recoup your initial investment or even save cash over the long run?

Let's initial look at the cost of a typical set up. You must remember nevertheless that the cost will vary as some businesses may have unique provides or use different technologies. There are different kinds of solar panel with different levels of performance. Usually the much more you spend the much better the system you will get.

So let us take a typically regular installation of 2.5kWp which many standard households would usually install. You could fit a bigger system which would produce much more electricity but clearly cost much more. An average price is about $7,000. You could however get quotes anywhere from $5,000 to as a lot as $10,000.

It is essential to take into consideration the kind of panels you are obtaining. To you and me two panels that look exactly the same may perform very differently. Some turn much more of the sunlight into electricity whilst others perform much better in lower light conditions or under shading. This is one of the reasons the cost can vary very dramatically.

With our typical system you are able to expect on average to create about half of all the electricity that you'll need. The reason only half is that the panels don't work at night. Also numerous families are not at house throughout the day as so can't make the most of the electricity their system is producing.

So let's do some number crunching. According to the Department of Energy over a 25 year period you can earn a tax free sum of at least $10,000. This includes payments you'll get from the feed in tariff, selling back your unused electricity to the grid and savings on your electricity bill. This will easily cover the greater end cost of a system.

Remember this is a minimum amount, it is also tax free and doesn't take into account inflation. This means most houses ought to benefit by a higher payment than our conservative estimate.

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