How To Afford Solar Panels

You can afford it.

How to afford solar panels.

If you live in an area with high energy rates and a suitable solar rating and can afford the initial investment it s worth installing solar panels in your home while the 26 tax break is in. Some people think the only benefit from solar panels is direct financial saving from the fuel saved. Today s solar panels cost 10 percent less than they did last year a trend that has borne out since the 1980s according to oxford university researchers. The different types of panels there are a few different.

A study by zillow found solar panels on average add 4 1 to property s value. That sentiment might speak to the converted but for most people considering solar power the financial case is a major deciding factor. How much energy does a solar panel produce. Thus the output for each solar panel in your array would.

There was a time when solar panels were prohibitively expensive and only the wealthiest homeowners could afford them. Most solar panels last for 50 years have a 25 year warranty and start generating a return on investment after 8. For the sake of example if you are getting 5 hours of direct sunlight per day in a sunny state like california you can calculate your solar panel output this way. The cost of solar power.

The average solar panel payback period is 7 to 12 years and solar energy saves 600 to 2 000 per year on electricity costs. Mounting solar panels on a south facing roof is ideal but some homes have gables and other features that reduce the available roof space for panels. Millions of americans lack access to solar energy because they cannot afford the steep upfront costs. Now more than a dozen states are adopting community solar programs that are bringing solar power and lower energy bills to low income households from new york to california.

Also you can install solar panels on a garage roof or a ground mount but this can increase the cost of the solar project. Simply put the more energy your solar panels produce the more solar energy your home will use as opposed to power from your town grid. That has changed with dramatic price drops over the last several years. Solar panels have a quick payback are free of running costs and will greatly reduce your homes energy bills.

For a 500 000 home solar panels will add a cool 21 500 in value. 5 hours x 290 watts an example wattage of a premium solar panel 1 450 watts hours or roughly 1 5 kilowatt hours kwh.