Solar panels are usually sold by the watt. For example, a 300 watt solar panel produces 547.5 kilowatt hours of electricity when it receives five hours of direct sunlight. However, in winter the solar power produced will be much lower than it is in summer.
Cost of solar panels depends on where you live, how hot it is, what climate you have, and many other factors. For instance, the east coast has less sunlight than its counterparts, while the midwest is exposed to five hours per daylight hour, compared with six on the west coast. Also, solar panels will need to be installed on a second-story roof. These roofs will cost more than flat roofs.
Depending on how large your solar panel system is, you could save as much as $30,000 over its lifetime. There are a number of tax credits and incentives that can help lower the cost of solar panel systems. These tax credits and incentives are available in many different states. The tax credits can cover between 26%-22% of the price of a solar system. Solar panel systems can also be eligible for state or local tax credits in addition to federal credits.
Solar panels cost will vary depending on how large the system is and what equipment it uses. For a house measuring 2,000 square feet, solar panels will cost between $18,500 and $42,000. Solar panels for a 3,500-square-foot house will cost between $19,000 and $32,000.
The amount of sunshine your area receives will affect the size of the panel system. Standard solar panels do not produce as much electricity as the best solar panels. You can either buy the panels cash or finance them. Most solar panels come with a 25 to 30 year warranty.
The cost per watt of commercial solar will be lower due to the economies of scale. In addition to solar panels, the cost of a commercial solar system will also include solar modules, solar contractor fees, and installation. The cost per watt will vary depending on the size and configuration of your commercial solar system.
Tax incentives are available for commercial solar system owners. These include the Class43.2 Accelerated Cost Cost Allowance that can help you get a higher rate of return. In addition to tax credits, commercial customers may be able to take advantage of community solar programs. Many energy companies offer rebates for local renewable energy equipment. Commercial solar's cost will depend on the size, type and location of the system.
An example: A 5,000 watt panel from a solar panel would cost between $5,600-6,400. The price includes the inverter, solar panels and other parts. If your roof is made of slate or ceramic tile, the installation cost will be more. The cost of a 20-kilowatt solar panel install will be between $15,170 and $24,500.