How Much Does Residential Solar Panels Cost?
With gas and other energy prices on the rise and government incentives for switching to cleaner energy sources, why are solar panels cost so high? One of the most significant factors is that many consumers don’t know how much they can save. Some assume they can’t afford it and therefore choose to delay the decision. This is a mistake. By taking advantage of these incentives and going solar now, you can dramatically increase your savings.
As the cost of utilities has continued to drop, it’s at a much slower rate, but this hasn’t stopped it from increasing at an alarming rate. That means there’s no better time to switch to solar than right now. Any savings you might see in your utility bill by delaying your purchase will be offset by the additional protection you’d forego. If you want to enjoy significant cost savings, contact a solar power company now to install solar panels sooner rather than later.
The most significant factor affecting solar panels’ cost is your chosen size of the system. Selecting a system size that is too small could result in energy loss during peak usage times. While this will incur a lower initial cost, you will also experience higher maintenance levels and difficulty maintaining the device over the long run. A larger system size will save you money in the long run because it will be less susceptible to wear and tear and require less frequent repairs.
There’s more to it than just the size of your solar panel’s cost. Your chosen size and number of cells to determine the efficiency of your system. For example, an extensive solar panel system with fewer cells will not generate as much electricity as a more minor, efficient system. The rule of thumb to use to determine the efficiency of your system is the number of kilowatt-hours per year (kWh) divided by the number of kilowatts you utilize per month (kWh per day).
Although solar panels cost less than their electricity-generating counterparts once they are correctly installed, they may not continue to operate at peak efficiency for quite some time. In fact, a newer solar panel or photovoltaic module will only produce electricity at maximum efficiency after about five years of continuous operation. This is due to the wear and tear of the solar cells caused by the sun. You will not receive any additional savings on your energy bill until the period of time that your original equipment has already been replaced. Even after you have purchased a new photovoltaic system and have it installed, you will most likely still need to purchase a battery for storage if you live in an area that does not receive a lot of sunshine. In fact, you will probably be required to install batteries before your system is installed.
The real answer when considering how much it would cost to purchase and install your own solar panels is: about three times more. For this reason, you should focus on purchasing a unit that already comes with a solar panel kit. By purchasing this kit, you can skip the installation process, avoiding the added labor costs associated with it. These kits come with all of the parts needed to construct and install each and every panel. This allows you to save even more money on your electricity bill each month.
While residential solar panels are often seen as an extremely cost effective way to lower your electricity bills, you must also consider the addition of the various components that are necessary to properly and adequately install them. Among these components are the solar cells and the associated mounting brackets. You will also need to pay for the inspections, permits and professional installation services required to install your kit properly. Some inspections require expensive professional services while others do not cost anything at all.
This can add up fast. One of the best ways to lower your electric bill while helping the environment is by using solar power systems. However, you should only consider purchasing one if you are absolutely certain that you have enough available solar energy to completely eliminate your electricity bill. It is also important to remember that even with the most efficient solar panels, your actual conversion of sunlight into usable electricity may not be enough to fully eliminate your bill. If you find yourself continuously losing money on the portion of your bill that is due to the energy consumption of your household, you should consider increasing your system’s output.