The Cost Of Solar Energy System
Solar energy is free however the tools that will allow you to harness this free energy are not.
If you're planning to install a solar energy system right at your home and would like to know how much it would cost, there are three things you need to consider:
First, the cost is dependent on how much energy your home requires. More energy you require usually means more solar panels and higher cost of installation. The good thing is, the technology to harness the energy of the sun is fairly less expensive than it was several years ago.
Second, the government is offering a rebate to those who will change to choice form of power. That means, the government will shoulder a portion of the total cost of the system.
Third, you are able to get tax credits whenever you switch to solar energy system. The amount of taxes rebate is dependent from state to state however the variety can go from $1000 to $2000.
All these have an effect on the overall cost of your installation.
A photovoltaic system can cost roughly at $8000 to $10000 per 1kW system. This equates to $8 to $10 per Watt. An typical American home with three bedrooms demands at least 1.5kW to as much as 3kW. Thus, set up can cost from $14000 to $30000, before rebates and tax credits.
Federal government rebate varies from state to state. Like a reference, an typical California household that requires one.5kW system could possibly get as much as $4200 rebate (1.5kW= 1500 watts x $2.80 per watt = $4200).
A home 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 after rebate.
Hence an typical household with 1.5kW system can get $735 ($14000 - $4200 x 7.5% = $735) well worth of tax credit while the 3kW system can get $1620 ($30000 - $8400 x 7.5% = $1620) worth of tax credit.
Example A: 1.5kW system
Cost of solar electrical system: $14000 Less rebate: $4200 Less tax credit: $735
Cost of the system after rebate and tax credit: $9065
Example 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 give you an idea of the cost of installing solar energy system. They do not represent real figures.
Top ideas:
Energy independent home has greater resale value and is more preferred by home buyers. Therefore, if you're preparing to sell your home in several years, installing solar energy system does not just provide substantial saving on electric bill, it also is really a great home improvement option.
If you want to finance the cost of your solar energy installation, include it in your mortgage.
If you would like to reduce your electrical power load, switch to energy efficient appliances. Purchase electric appliances with Energy STAR seal.
Low energy requirement signifies lower set up cost.
Residents of places with higher electrical power rate can benefit most on solar energy system.
If you can't afford the photovoltaic system, you can 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.
by: Larry Wood
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