It can be costly to install solar panels on your home. The costs of installing solar panels on a home are declining and the return is increasing with the advancements in PV technology. Federal rebates are available for solar power, making PV panels a great investment. You can expect to pay approximately $19,000 for solar panels for a 1500-square-foot house. To get started, check out the various types of solar panels.
Prices of solar panels
Before you can calculate how much solar panels cost, it is important to determine the energy consumption of your house. The average 1500-square foot home uses about 6 kW energy. Therefore, to produce the same amount you will need at least 15-18 solar panels. Each watt of electricity produced by a solar system will cost you between $2.5-$3 per kilowatt. For the same amount to be generated, more panels will be required if your location receives less sun than the average.
Types of solar power panels
The average house in the United States is 1500 square foot. The average electric bill is around $100 per month. The average household will need 15 to 18 solar panel panels to offset the cost. A typical refrigerator consumes around 250 watts of electricity and operates for four hours each day. The average household's energy usage will help you figure out how many panels you need for a 1500 square-foot house. The average wattage of a solar panel is 37 watts, and the number of panels required will depend on the amount of energy use and the location of the house.
Cost per Watt
While electricity costs are rising, solar panel prices have fallen. A solar system installation is affordable and rewarding thanks to the recent technological advancements and incentives offered through state and federal energy departments. You will see a reduction in your monthly costs and a return on investment in a matter of years by installing solar panels. The cost per watt of solar panels for a 1500 square foot house can range from $7200 to $20160, depending on the size of the system and the size of the panels.
Solar panels installed on the roof
The price of solar panels for a 1500-square feet home will vary depending on its size. It can range between $7500 and $21,000. An array of solar panels installed on a house that doesn't receive direct sunlight will need more panels than one placed in a sunny location. If there are trees or other buildings around the area, it may require you to purchase more panels.
Tax incentives
Solar energy can be a great way for you to reduce your carbon footprint and save money. Federal incentives are available for solar installation. You can get a dollar-for-dollar tax credit, a 25% federal tax credit, and a sales tax exemption if you qualify. Each year, you can earn a $500 tax credit. Depending on your solar system size, you might even qualify for an exemption from the property tax
Solar panel leasing
Leasing solar panels can be an option for those who want to install solar panels in their homes but don't wish to commit to a large initial investment. These panels are very affordable, and you can save between $50 and $100 a month on your power bill. You can lease the panels instead of buying them, and there's little to no down payment. It will also help you save money on maintenance fees and installation, which you'll be responsible for paying to the leasing company. If you move, you will need to transfer your lease.