Solar panel prices have continued to drop for years while cost of energy and heating bills have continued to rise steadily. It’s time for a change. Homeowners need to take control of their home’s energy usage by using home made panels to reduce costs and help the environment. With these cost saving solar energy tips you can have your own solar panel system in a few short weeks.
First, a solar panel installation cost can be difficult to determine unless you know what your initial cost will be. For example, if you decide to go with a combination of solar panel price and local energy savings this will be based on your assessment and estimation. A basic solar panel installation cost of around $150 is typically not very expensive. But when you factor in the labor and equipment cost that can range from a few hundred dollars to thousands of dollars then you will see that it’s not exactly a cost-of-living increase. Some initial costs can be covered with rebates or tax credits.
To determine the initial cost of solar panels consider two things. The first is the actual cost of the materials that go into solar panel systems such as the photovoltaic cells. The second is the cost of installation for a typical sized home. Depending on the size of the home and the efficiency of your solar system you could save thousands of dollars on electricity.
The cost of solar cells is based on several factors including the quality of the silicon used, the amount of watts the solar cells can produce, and the lifetime of the cells. Some companies are better than others in producing efficient solar cells. The number of solar cells in a solar panel also affects the cost of a solar panel. However, if there are fewer solar cells in each panel then the overall solar panel cost will be less.
How much do solar panels cost per year? This varies greatly depending on what type and design you choose. Some companies offer systems that come with a one-year warranty, others offer standard warranties. There are still manufacturers who offer warranties that last a lifetime. One of the factors that affect the price per year is the warranty offered. Also consider any installation fees before you decide to purchase a solar panel installation system.
When determining the cost of a solar panels make sure you look at the top 10 manufacturers in the industry today. The two best rated companies are Panasonic and Sunbeam. They dominate the market so it’s a good idea to buy from them. These two manufacturers offer a wide array of products which include residential, commercial, and grid-tie systems.
How many watts does a solar panel need to convert solar energy into electricity? This varies depending on the size of the solar cell used. An average solar panel needs about 1000 watts to produce an electric current. Larger solar cells can produce even more electricity which will make them more cost effective for your energy requirements. To determine the cost per kilowatt-hour, multiply the efficiency rating of the panel by 1000. You should also factor in the cost of batteries to store the excess electricity for use during the day.
How many hours per day do you use your solar panels? If you use them during the daytime then you should expect to pay more for your solar panels. For a typical family home the cost of a solar panel will be between ten and fifteen dollars per hour of usage.
How long will it take to pay off your investment? Most experts would say that it will take at least a few years before you start seeing a return on your investment. Depending on the type of solar energy system you have the actual return could be even longer. The size of your household as well as its overall consumption of energy will play a role in determining how long it will take for you to break even with your solar energy system.
Is it a good value for my money? If you are going to purchase a solar panels you must consider what the ROI (return on investment) is. If you purchase one with high efficiency but low watts you are not really saving any money because you are not using as much of your solar energy system as you could be. If, however, you purchase a lower efficiency panel but the cost of your utilities is increasing then you are effectively replacing the panel with a much more expensive appliance. Understanding this concept is critical to saving electricity in the long run.
Which manufacturer will I buy from? It is important to remember that while some companies such as Wholesale Solar may offer the lowest prices on monocrystalline solar panels, other companies such as Solarwinds may be better for you financially. Solarwinds offers much higher energy savings because they source their equipment from reliable, renewable energy sources such as wind and sun whereas Solarware, Inc. purchases its silicon crystals from reliable, cost effective countries like India. Regardless of which manufacturer you decide to work with, it is critical that you consider the overall cost of the energy savings you can receive, as well as whether or not they offer an incentive program that includes equipment payment or rebate programs.
