Solar Power Cost
A licensed professional will be able to present you how much exactly would solar power cost. All one needs to do is to submit the details of the planned project. After which, they could usually give a free quote just within forty-eight hours or less. The best thing is that there is no commitment whatsoever to contract their services yet.
Do you like ownership of the electricity used at your home? Do you want to refrain from anxiety duty to rising electricity cost? Through installing a solar power system, big savings can be achieved. You do not only become independent from the electric firms, you are also able support an environmental cause.
Twenty years ago, solar power cost is seven times higher than what it costs today. Thankfully, through advances in technology, solar power cost has decreased significantly. Another cause for its decrease is the economies of scale achieved from having more households use the technology. Solar power cost is even expected to decline further as the market for it increases.
Even the government has realized the advantage of using solar energy. That is why it has taken steps to provide incentives. Some even get paid additional if the panels produce excess electricity. Thus, there is no better time than now to avail of solar power systems.
Solar power cost varies. It would be dependent on how large the household is. It is also dependent on the electricity usage as well as the specific solar power system that is being used. Another consideration is the amount of sunshine in the area as well as the available govt. incentives that are in place.
The cost of a solar hot water system will range from two thousand to four thousand US$. The photovoltaic system will range between eight thousand to ten thousand US$ for a 1 kilowatt system. Thus, for an average 3 bedroom household that requires 1.5 to 3 Kilowatts, the cost will range from US$13,000 to US$27,000. This computation is before rebates are considered.
Let us also see how much savings one can get with all the incentives by looking at a typical California household. An average household here would be requiring 2.5 kW wherein the electricity bill runs from US$50 to $US75 monthly. The Cost of purchasing a solar panel system including installation cost is US$22,500. Deduct the govt. Rebate worth US$7,000 then also deduct tax credit that runs at $US1, 163. Thus, one only pays $14,337 for the system and its installation.
Another example would be a household that would need a 3kW system. Their running electricity cost would range from US$75 to US$100 monthly. The Cost of purchasing a solar panel system including installation cost is US$27,000. Deduct the govt. rebate worth US$8,400 then also deduct tax credit that runs at $US1, 395. Thus, one only pays $17,205 for the system and its installation.
A household can even avail of more savings with net metering for the solar power system. Thus, it is a viable option to put up a solar power system. There may be a significant cash out initially but then there are deductions that lessen the burden. Add to this your contribution to the environment and what you pay for may very well be worth it.
