The number of solar energy installations has exploded recently; chances are there are some in your area. Solar energy has grown in popularity in part due to the fact that solar power systems have gotten much more affordable over the past ten or twenty years. As a consequence, installing solar is now affordable for a lot more homes.
But how much would a solar power system cost exactly? Before having a solar firm visit their house or disclose their personal information online, many homeowners want to obtain an idea of the cost.
Estimated Cost Of A Solar Power System
The average solar power system costs $2.77 per installed watt, according to Energy Sage. This cost includes labor, permits, solar panels, an inverter, and other solar equipment; however, costs may differ depending on the installation, the location of the solar panels, and the equipment.
The overall amount of power you use, the amount of space you have to install solar panels, and your financial situation will all affect the size of your solar energy system. Examine your power bills from the last year or longer to estimate how much electricity you use.
A 6 kilowatt (kW) solar power system, which costs around $17,000 before incentives, is what the typical home requires. You might get a tax credit equal to 26% of the overall system cost in 2022 if you can take advantage of the federal solar tax credit. The solar tax credit is 22% of the overall cost if your system is installed in 2023. To be sure you can benefit from the tax credit, go to a tax professional.
Estimates For A 6 kW Solar Power System Each Year
2022: $17,000 less $4,420 (26% tax credit) is a net cost of $12,580.
2023: $17,000 minus $3,740 (22% tax credit) is a net cost of $13,260.
Cost-Related Factors for Solar Power Systems
Your solar panel system’s cost is affected by a number of variables. So that you know what to anticipate, let’s examine them.
Size of a Solar Power System
Installing a solar power system that meets all of your needs may be possible if your home doesn’t use a lot of power. Some homeowners add a handful of extra solar panels just to charge their electric cars.
It’s a good idea to look at ways to lower your household’s power use before installing solar panels. Do you, for instance, have an outdated refrigerator that constantly runs to keep your food cold? Installing a water-saving showerhead can save water and electricity if you have an electric water heater.
The size of your solar power system is also somewhat climate-dependent. For instance, a solar array in San Diego, California, will generate more power overall than a similar array in Seattle, Washington, over the course of a year.
Solar energy devices and panels
A wide variety of solar technology, notably solar panels, will be available from many installations. For instance, the cost would probably be more if you install premium solar panels with a lengthy equipment guarantee and better efficiency solar cells. In comparison, some solar panels may be less expensive, but they could also be less effective and come with a shorter guarantee.
If you are interested in more articles like this, here’s one about other examples of renewable energy.