It can be costly to install solar panels on your home. Thanks to the advances in PV technology, costs are falling and return on investment is improving. A federal rebate for solar power makes PV panels an attractive option for homeowners. Solar panels cost approximately $19,000 to install on a 1500-square feet house. To get started, check out the various types of solar panels.
Prices for solar panels
Before you can calculate how much solar panels cost, it is important to determine the energy consumption of your house. An average 1500-square-foot house consumes about 6 kW of energy, so you need at least 15 to 18 panels to produce the same amount of energy. The price for each watt of electricity generated by a solar panel system will be determined by the square footage of your house, and the cost of installing solar panels is typically between $2.5 and $3 per kilowatt. To generate the same amount, you'll need more solar panels if you live in an area that receives less sunlight than average.
Types of solar panels
The average American home measures 1500 square feet. An average monthly electric bill costs around $100. An average household will use between 15 and 18 panels of solar to offset this cost. A typical refrigerator consumes around 250 watts of electricity and operates for four hours each day. You can see how much energy is used by a typical family to calculate the number of panels required for a 1500 ft house. A solar panel's average wattage is 37 watts. The number of panels needed will depend on how much energy is used and where the house is located.
Cost per watt
While the cost of electricity is rising, the price of solar panel systems has decreased dramatically. Recent technological developments and incentives offered by the federal and state energy department make it affordable and attractive to install a solar panel system. You will see a reduction in your monthly costs and a return on investment in a matter of years by installing solar panels. For a 1500-square-foot house, the cost per watt of solar panel can be between $7200 and $20160 depending on its size and the size the panels.
Installing solar panels on the roof
The cost to install solar panels on a roof for a 1500-square foot home can vary depending on its size. Prices can go up to $7500 to $21,000. Also, the number of panels installed will impact the price. Installing solar panels on a house without direct sunlight will require more panels. If you have trees or buildings that block your solar panels from receiving full sunlight, you might need to purchase additional panels.
Tax incentives
Using solar energy for powering your home can be a great way to save money and reduce your carbon footprint. There are many incentives offered by the federal government for solar installations. If you qualify, you may be eligible for a dollar per-dollar tax credit or a 25% federal tax credits, as well as a sales exemption. You can get a $500 tax credit each year. Depending on the size and type of your solar array you may even be eligible for a property exemption.
Lease solar panels
You can lease solar panels if you don't want to spend a lot of money upfront but are interested in installing solar panels at your home. These panels are quite affordable and you can save anywhere from $50 to $100 each month on your power bills. There is no down payment and you can lease panels rather than buying them. In addition to saving money on installation and maintenance fees that you will have to pay to your leasing company, this also allows you to make a significant savings. If you move, you will need to transfer your lease.