It can be costly to install solar panels on your home. As PV technology advances, costs are dropping and returns on investment are increasing. Federal rebates are available for solar power, making PV panels a great investment. You can expect to pay approximately $19,000 for solar panels for a 1500-square-foot house. Take a look at the various types available for solar panels.
Prices for solar panels
In order to calculate how much solar panels will cost, you should first figure out the total energy consumption of your home. A 1500-square-foot home consumes approximately 6 kW of electricity. To produce the same amount of energy, you will need 15-18 panels. Each watt of electricity produced by a solar system will cost you between $2.5-$3 per kilowatt. Keep in mind, however, that you will need more panels to produce the same amount of electricity if your area receives less sunlight than the average.
Different types of solar panel
The average house in the United States is 1500 square foot. An average monthly electric bill costs around $100. An average household will use between 15 and 18 panels of solar to offset this cost. A typical refrigerator consumes around 250 watts of electricity and operates for four hours each day. The average household's energy usage will help you figure out how many panels you need for a 1500 square-foot house. A typical solar panel produces 37 watts of power. The amount of energy used and the location of your house will determine the number of panels you need.
Cost per Watt
While the cost of electricity is rising, the price of solar panel systems has decreased dramatically. The cost of installing solar panels is affordable thanks to recent technological advances and the incentives provided by state and federal energy departments. Solar panels can reduce your monthly expenses, and provide a quick return on your investment. 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 for the roof
The price of solar panels for a 1500-square feet home will vary depending on its size. It can range between $7500 and $21,000. A solar panel installation on a house with no direct sunlight will require a larger array of panels than one in a sunny area. If there are trees or other buildings around the area, it may require you to purchase more panels.
Tax incentives
Using solar energy for powering your home can be a great way to save money and reduce your carbon footprint. There are many incentives offered by the federal government for solar installations. You can get a dollar-for-dollar tax credit, a 25% federal tax credit, and a sales tax exemption if you qualify. You can get a $500 tax credit each year. Depending on the size and type of your solar array you may even be eligible for a property exemption.
Lease 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 very affordable, and you can save between $50 and $100 a month on your power bill. There is no down payment and you can lease panels rather than buying them. The leasing company will charge you maintenance and installation fees. This allows you to save money. Additionally, you will have to pay for the transfer of your lease if it is time to move.