What Will the Solar Panel Costs Be for My Home?
If you’re considering converting to solar power in your home, you’re making a great choice. It’s not only one of the cleanest forms of renewable energy available today, it’s also great for the planet. One of the main reasons why more people don’t switch over to solar energy is because of the solar panel costs. The good news, though? The costs of solar panels have drastically fallen in the last few years.
It’s Cheaper Now than Ever Before
Solar panels have traditionally been pretty expensive to install. While you’re sure to make your money back over the years in terms of savings on your electricity usage, it’s still hard to pay out a lot of money up front. As of three years ago, the cost to install a solar panel energy system on an average size home in California would set you back between $30,000-$35,000. Today, with the increased inventory and falling demand, the solar panel costs have really fallen. There are also many rebates, tax credits, and other discounts that can bring the total cost down to a little over half of that!
Choosing the Right Solar Panel for Your Home and Your Budget
There is a lot more to consider than just solar panel costs when you are choosing panels for your home. First, you will want to determine how many panels you’ll need. Most homeowners try to get 40 to 50 percent of their electricity from solar panels. You’ll need to check how many kilowatts of power your family uses in a month’s time. You can then look for solar panels that can produce what you need. If you need 200 watt panels, those will be twice as expensive as the 100 watt panels. The installation costs will also need to be figured in.
Most solar panels come with a 10 to 25 year warranty. The longevity of the panel will affect the solar panel costs, but it’s worth it to purchase the best panels you can afford. The efficiency of the panels will differ as well. If your home has a large area of sun exposure, then you should consider monocrystalline or multi-crystalline panels. For homes with partial shading, then an amorphous panel is your best choice for the most efficiency. Amorphous panels produce the least amount of electricity and they also take up more room than other panels. Speak with a solar panel company that can explain which options are best for your home.
A Few Final Thoughts
Solar panel costs are expected to continue to fall for the next year or so. This is in part due to a struggling economy. This industry is feeling the pinch, as are many others. If you have been considering installing a solar energy system, then now is the right time to move on it. You can see a significant reduction in your electricity costs and the savings will help pay for the solar panel costs over the next few years. You are also doing a small part to help the world’s population become less dependent on fossil fuels.
Solar Panel Costs Tip #1
There are some used solar panels available for sale. If you think this is the way you want to go, make sure you know where the panels came from, how old they are, and if they will need repairs. It can be expensive to rebuild these panels and you may end up spending more in the long run than if you just purchased new panels.
Solar Panel Costs Tip #2
Before you choose a company to complete the installation process, make sure you get several written quotes to compare different companies. You want to be sure the warranty information is listed, as is the expected time to install the panels.
Solar Panel Costs Tip #3
You’ll also want to check the credentials of any company that you are considering hiring for the installation. There have been reports of many scams and you certainly don’t want to be swindled out of that kind of money! Contact your local Better Business Bureau to see there are any unresolved complaints and make sure you ask for a business license and insurance.
