It can be costly to install solar panels on your home. With the development of PV technology, the cost of solar panels is decreasing and the return-on-investment is rising. Federal rebates are available for solar power, making PV panels a great investment. A 1500-square-foot house with solar panels will cost you approximately $19,000. Check out the different types of solar panel to get you started.
Prices for solar panels
To calculate the cost of solar panels, first determine how much energy your home uses. 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 cost to generate one watt of electricity from a solar panel system is determined by how large your home is. Typically, the price of solar panels costs between $2.5 and $3 per Kilowatt. For the same amount to be generated, more panels will be required if your location receives less sun than the average.
Different types of solar panels
The average American home measures 1500 square feet. The average monthly electricity bill is approximately $100. To offset this cost, an average household will require between 15 and 18 solar panels. A typical refrigerator uses approximately 250 watts of electricity, and runs for about four hours per day. The average household's energy usage will help you figure out how many panels you need for a 1500 square-foot house. The average wattage of a solar panel is 37 watts, and the number of panels required will depend on the amount of energy use and the location of the house.
Cost per watt
The price of solar panels has fallen dramatically despite the rising cost of electricity. 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. Depending on the size of your system and the size or panels used, the cost per watt for a 1500 square-foot house could range between $7200 and $2160.
Solar panels can be installed on your roof
Depending on your house's size, the cost to install solar panel roofs on a 1500-square ft home can be between $7500 and $21,000. Additionally, the number of panels will affect the price. For a solar panel installation to be effective, a house in direct sunlight will need a greater number of panels than one that is located in a sunny spot. If there are trees or other buildings around the area, it may require you to purchase more panels.
Tax incentives
Solar energy can be a great way for you to reduce your carbon footprint and save money. Solar installations are eligible for several federal incentives. If you are eligible, you can receive a dollar-for–dollar tax credit and a 25% federal credit. Each year, you can earn a $500 tax credit. You may be eligible for a property tax exemption depending on how big your solar array is.
Leasing solar panels
Leasing solar panels is an option if you are considering installing solar panel on your home but don't want a large upfront cost. These panels are quite affordable and you can save anywhere from $50 to $100 each month on your power bills. You can lease the panels instead of buying them, and there's little to no down payment. You'll also save money on installation and maintenance fees, which you'll have to pay to the leasing company. And you'll have to pay to transfer the lease if you decide to move.