Yes, with installation of solar panels, power bills can be brought down drastically. For generating electricity through traditional methods, fossil fuels are used as raw material but for generation of solar energy use of sunlight is made. Since sunlight is available for free the overall cost of producing solar power is nil. However, the initial investment that is little costly.
The cost of generating solar power may depend on a number of factors like the state in which you live, size of system required to be installed, direction of roof surface on housetop, etc. However, solar panels installation costs can be reduced by qualifying for state sponsored programs as well as federal tax credits. Besides, increasing market competition among solar panels makers and installers makes it easier for homeowners to secure highly customized solar solutions for their homes at the most affordable price rates. And there is specialist help available for preparing and furnishing correct as well as accurate paperwork for getting solar rebates and incentives offered by state governments.
Homeowners, who get solar energy systems installed at their houses before the 31st of December, 2016, could be eligible for 30% federal tax credits. This benefit is applicable for all the three major solar installation types-photovoltaic cells, solar heating and cooling as well as concentrating solar technologies. Additionally, to encourage homeowners in going green with solar power, even states, counties, municipalities and utility companies provide an array of rebates and incentives. All these concessions can be helpful in bringing down solar panels installation costs considerably.
Solar renewable energy credit (SREC) is a measure which shows that some specified amount of electricity has been generated by making use of solar energy. The SRECs are in accordance with the renewable energy portfolio standards prescribed by each state. Some state backed SREC programs also enable homeowners to obtain loans for getting custom-built solar energy systems installed at homes.
It is not necessary that the costs of getting solar panels installed in houses is lowest in states where sunlight is available in plenty all through the year. In fact, some states, which receive less sunlight, have lower solar panels payback rates as they offer an array of incentives. The factors that determine overall cost of solar installations include electricity costs in your area and availability of solar programs, rebates and tax credits which make solar energy generation more affordable.
Although solar panels require sunlight for producing energy, solar systems can produce energy even if there are lighter or intermittent clouds. However, if there are thick or dark clouds, the system may shut down for a while and automatically restart once sunlight reappears meaning thereby that some amount of solar energy will still be produced.
Even during winters when there the weather is cold and crispy at day time, enough sunlight could be available for producing solar energy. Similarly, on snowy days, production of solar energy continues but lot could depend on the angle at which solar panels are installed.
If paid in cash, the average cost of a solar panels system may be around $18,000 and if you qualify for tax incentives, the figure may come down to $9,000.
On the other hand, if you get a solar power system on lease, you might be required to pay a lower upfront fee ranging from $0-$25. You could also consider paying a large upfront fee for reducing monthly payments or even select to repay entire lease amount at one go to reduce costs. Thus, you can explore either of these options and choose one that best fits your needs.
The number of solar panels which need to be installed at your house will depend on the amount of power required for running all household electrical equipments and appliances every month. While smaller homes may require 10 to 15 solar panels, larger homes with greater power needs may need more number of solar panels. Speak to one of our solar experts for analyzing your solar energy requirements so as to secure a highly customized solar power system for your home.
Normally, our solar installers complete installation work of solar panels within 2 days or even less depending on the size of homes. Our solar specialist will first evaluate your exact solar energy needs by carrying out an initial survey and then review the engineering part of the process. Large business or commercial solar system installations may take more time depending on the system’s size, complexities and type of mounting surface.