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What’s the Cost of Solar Energy? Learn about the cost of solar energy for your home
Cost of Solar Energy: With energy costs continuing to rise, more and more homeowners are considering the use of solar energy. The first question is always, “How much will solar energy cost me? The answer to this question depends on several factors. The size of your home is not necessarily a determining factor.
Determining the cost of solar energy cannot be calculated based upon the size of your home. There are many other factors to be considered before you can get an estimate on the cost of using solar power for your home.
Calculating the Cost of Solar Energy Yes, sunlight is free, but the cost of turning free sunlight into power you can use can be a costly investment. Still, considering everything, it could be one of the best investments you make. Installing solar energy will put an end to rate increases from your utility company. Thus over time the investment will save you money. Another benefit is that using solar energy causes no harm to the environment.
Several factors come under consideration as you begin to calculate it. Your location plays an important factor. Depending on where you are located you will get somewhere between four to six hours of sun per day. More sun in the summer and less in the winter must also be factored in if you’re considering a 100% solar energy system.
To figure the cost of solar energy, take the total number of KWH shown on your electric bill. Divide that amount by 30 to get your daily use average. Next, take your daily average and divide it by the yearly average of full sun hours you get per day. Multiply that number by 1.15. This gives you an estimate of how many watts of solar panel you need to maintain the energy use.
Do-it-yourself cost of installing solar energy panels averages around $7.00 per watt, more if you use a licensed contractor to install it. In most areas you will also need a back-up or supplemental system to ensure adequate amounts of power during all seasons of the year.
Use calculators to find out your system cost and get the best deal with Compare It.
Tax incentives and Other Benefits of Solar Power Its your money- get it back! Be sure to check with your state/country to learn about these tax incentives. More about this topic under tax incentives.
Net Metering Net metering is another incentive to help offset the investment of installing solar power in your home. Net metering allows you to “sell” extra power back to your utility company. The methods and specifics vary from state to sate and from company to company, so be sure to check with your local power company to find out what’s offered.
The cost of installing solar energy may seem high initially. Once you factor in future yearly savings, the tax incentives, the net metering, and the confidence of knowing you’re generating your own solar power without worry of rate increases, the initial costs of a solar power is a bargain.
Solar power is a win-win situation for everyone involved.
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