Getting A Solar Panel System

What if my solar system doesn t generate as much energy as anticipated if the contractor promises that your system will produce a specific amount of energy each year be sure to ask what will happen if the system or panel efficiency doesn t meet your expectations.

Getting a solar panel system.

Today it s around 0 13 per watt or about 600 times less. Not all states offer tax credits to homeowners for installing solar panels. The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. For example if you live in new mexico you average six peak sunlight hours per day.

There are several possible scenarios. Check to see if your state offers tax and non tax incentives including rebate loan and grant programs. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. Be sure to focus on the important aspects of your purchase as it s a substantial investment and one you ll be living with for a long time.

The cost has generally been following swanson s law which states that the price of solar drops by 20 for every doubling of shipped product. As of 2019 the typical solar panel system costs 12 810 after tax credits. Then divide the kw output by your panel s efficiency to get the estimated number of solar panels you ll need for your system. The average cost to install solar panels is from 10 626 to 26 460 after tax credit for a 6kw to 12kw system to power an entire house.

An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group. Integrated hardware and simple design achieve this by securing the panels close to your roof and to each other for a minimal aesthetic. The average cost of a solar panel system for a home in may 2020 is 3 18 per watt making an average 7 kw installed residential solar power system 22 260 before the 26 federal solar tax credit and 16 472 once the tax credit is applied. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8.

Daily kwh average sun hours x 1 15 efficiency factor dc solar system size. Getting started with solar system sizing. The tax break reduces the. Back in 1977 the price of solar photovoltaic cells was 77 for just one watt of power.

If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands.