Cost Of Solar

The idea of putting solar panels on the roof of your home is very appealing. Once installed, the can produce free electricity for decades. Who doesn’t like free? Rooftop solar systems themselves are not free, however. The first question most homeowners ask is, “How long will it take to for the system to pay for itself?” The answer to that question depends on many variables. Here are some of them. The cost of the system The price of electricity in your area The efficiency of your solar panels   Federal, state, and local rebates and incentives Local utility company policies Let’s take them one at a time. The Cost of Your System No two rooftop solar systems are the same, so no two systems will cost the same. But on average, the typical residential solar installation in the United States has a capacity of 6,000 watts. Since the average installed cost is $3.14 per watt, that typical system has a gross cost of $18,840. Notice that...

Governments, businesses, and consumers are increasingly supporting the development of alternative energy sources and new technologies for electricity generation. Solar power is becoming one of the most popular renewable energy choices, as it has a nearly inexhaustible supply source. Yes, installing residential solar is definitely worth it. Here’s why. Cost Savings With prices falling rapidly, installing home solar panels can dramatically trim your energy bills. New technology has sent solar prices plummeting more than 60% in the past several years, so the time it takes to recoup what you paid for your system, also known as the payback period, is shorter than ever. Google’s Project Sunroof is in the process of helping homeowners to determine their potential home solar panel savings. Tax Credits Homeowners who buy their panels — instead of leasing them — can claim a federal tax credit worth 30% of their purchase at tax season, which translates into a $6,000 return on a $20,000 home sol...