As the cost of solar panels is decreasing day by day, we can see solar panels on every second rooftop of an American household. Solar systems are being installed every 100 seconds in the United States. And the chances of solar energy being the only large resource of power supply is increasing.
According to the Center for Sustainable Energy, the average cost of installation is between $15,000 to $25,000, along with that the national average is about 13 cents per kilowatt-hour.
The high electricity bills are making it easier for the people to get the solar panel installed. It’s a one time investment with a little follow up money. More advancement in the technology of the solar panels is making it more cheaper and durable, other than that the power production is tremendous.
Solar energy was the most expensive option just 10 years ago, it was difficult to maintain it and sustain the bills. But since then the cost has dropped almost 90 percent, it used to cost $1,825 per one watt of solar capacity, but now the solar cost is as little as $0.70 per watt.
There are some factors which influence the cost and installation of the solar panels which fluctuates state to state, these should be considered before getting solar panels for your home.
- What is the exposure of sunlight in your region?
- The costing of the solar energy production system.
- The cost of electricity in your area.
- The power usage of your home.
One more thing that defines the cost of something which is usually not considered when you are buying it is that the solar panel can also be leased. You are not supposed to put all the money in, you can lease it and pay eventually. This will cut the cost further . Look for someone who offers lower upfront cost, and go for it.
Solar energy is captivating most of the energy sources in the world, replacing every single source. Because one it’s cheap and second the system is long-lasting. The initial money spent on the installation is just an investment that will help you save a lot of money in the future.
