Clearing The Air About Residential Solar Power
- Posted by adminsolar
- On September 4, 2019
- 0 Comments
Over the last decade or so, solar panels have evolved from a luxury option to something that’s easily accessible for home use. The timing of this innovation couldn’t be any better. As climate change makes it essential for us to find ways to lower or emissions levels, solar power is proving to be a major contributor. However, not everyone is fully aware of how to go through this process and the potential benefits involved. So, if you’re thinking of making the move to solar power in Frederick, here’s what you need to know.
Naturally, the cost of solar panels in Erie, CO and elsewhere is a major source of concern for most people. However, it’s mostly positive news here. Over the course of the past 10 years, solar installation costs in the U.S. have dropped by roughly 70 percent. In fact, over the last year, that number dropped by 5% alone, so it’s not like this is a front-loaded trend. As a result, it’s only going to become more and more financially accessible in time for people to supplement their home with solar panels or make the conversion to solar power entirely.
Of course, cheaper solar energy in Firestone still raises the question of how much it is, which is a very fair question indeed. However, the answer is going to ultimately be dependant on the state you are in as well as your planned system size. There are some calculations you can run to get a decent estimate, though. For example, one method you can use to calculate the cost of electricity is using dollars per watt. This represents how much solar will cost you by each watt of electricity production available. The average for 2019 is $2.98 per watt. This means that for your traditional average 6 kilowatt system, you’ll be paying $17,880 before tax credits and rebates are applied.
One question that a lot of people ask their solar company in Erie, CO is exactly how long it takes for them to break even on their panels. This represents when their savings on the electric bills are enough to offset how much it costs to get the panels installed. Like a lot of financial factors, this varies, but you can expect this to happen around 7-8 years on average.
Let’s revisit the notion of tax credits. In some cases, they can make the difference between a solar installation being financially feasible and maybe something you need to plan for in the future. As a start, the major tax credit that you see for home solar panels is called the federal investment tax credit, also referred to as the solar tax credit. This is equivalent to 30% of the total cost of your system, as long as you buy the system. Different states also have their own additional tax credits. Depending on where you live, the savings here could be substantial. Different states, counties and cities may also offer tax credits and rebate programs on a case-by-case basis, so do your homework and see what you qualify for.
In some cases, people may be reluctant to invest in solar panels if they don’t have permanent plans for a home. On average, your typical solar system can last for 25 to 30 years. However, it still may be worth getting that installation done. On average, solar panels have been proven to increase the value of a property and help get a sale done faster.
While money matters, there are other considerations that are worth mentioning. For example, many people may ask whether or not their solar panels are connected to the grid. To clear the air, when your solar company in Louisville, CO sets up your home solar system, the majority of the time, it will be connected to the greater grid. A benefit of this is that it gives you access to net metering. Net metering is a sort of incentive that gives you credit on your bill when the solar system produces excessive electricity. In times when the panels aren’t producing enough electricity, you can use the credits to cover the cost of any electricity you need from the greater grid. This also keeps things powered at night.
You can do an off-grid installation if you wish, but you won’t be able to get additional electricity from your utility. In order to run an off-grid project, not only do you need heavy energy storage and a massive panel system, but also backup power for when the panels don’t get enough sun on their own.
One question that often gets asked by people wanting to learn more about solar energy systems is how long a residential setup takes to actually install. Generally, a lot of that time is spent meeting with your installation team so they can do some visits to the site and come up with a plan. When that’s done, the time to set off the system will only take a few days, but there are additional factors. For example, if you opt for net metering, you’ll need to wait a bit longer while the panels get connected to the grid. However, in general, planning the installation takes longer than actually doing it.
Some people may also be curious if they have the opportunity to take advantage of residential solar power if their roof doesn’t qualify for traditional panels. In the past, this would be a barrier, but there are many new and exciting ways to get renewable energy into any home. Two of the most common options here are ground mount solar installations or community solar gardens. These give access to solar power without needing to put anything on the roof at all. Ground-mounted solar arrays also exist, allowing people to own and even install solar systems themselves, no matter what type of roof they have.