Today we want to explain the cost of solar panels. Is your utility bill sky-high? Has it gone up more than you expected? Are you looking at ways to cut down on your expenses? One viable idea is switching to solar power. While the initial cost can seem like a big investment, you’ll quickly break even. Not to mention, you’ll enjoy free energy after the cost of the solar system has been paid off.
Not sure if going solar is for you? Wondering about the cost of solar panels? If so, read on to learn more about the benefits of solar power systems and the cost of putting one in.
Number of Solar Panels
The cost of solar panels is relative to the number of solar panels purchased. This can vary drastically depending on the size and purpose of the solar project. Typically, the more you purchase, the lower the cost per watt of energy generated, with discounts available for large orders.
Solar panels are most affordable when purchased in bulk, and the more you purchase, the less you’ll pay. However, the bigger the order, the costlier it gets to transport; large orders may require installation costs as well. Prices vary from vendor to vendor, so a little research can help you find the best prices on solar panels of any size and quantity.
Type of Solar Panels
The cost of solar panels depends on the type of panels being purchased. Monocrystalline solar panels tend to be the most expensive option due to their high-efficiency rate and long life span. More efficient solar panels, such as polycrystalline and thin-film, tend to be cheaper. This is due to their less efficient conversion rate. But they can still be efficient over long periods of time.
The larger the system, the cheaper it will be per watt. Solar systems powered by batteries tend to be more expensive than grid-tied systems, which are hooked up to the power grid.
Roof Angle and Roof Type
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Roof angle and roof type can have a huge influence on the cost of solar panels. Depending on a roof’s specific angle and pitch, the overall solar panel installation cost can vary. A rooftop with a higher pitch requires more mounting hardware and labor. It sometimes requires a higher voltage inverter which leads to a higher overall cost.
Rooftops with a low angle are more cost-effective for solar panel installations. There is no need for racking, mountings, and other hardware. A flat rooftop is one of the most cost-effective type to install solar panels compared to other types of rooftops.
Age of the Roof
The age of the roof has an impact on the cost of roof solar panels. If the roof is newer, then the installation process is going to be simpler and cheaper. This is because solar panels can be easily added on top and there won’t be any issues related to weather damage or shingle deterioration.
On the other hand, if the roof is aged, additional measures may need to be taken when installing the solar panels in order to ensure their stability and ensure proper adhering. This could include reinforcement of the roof structure or replacement of parts.
Cost of Licenses
One of the major costs associated with solar panel installation is the cost of licenses. Depending on the area, the cost of licenses varies, often costing hundreds or even thousands of dollars. Energy regulation bodies, such as the Public Utilities Commission, can broadly dictate the cost of a license and its associated fees since license requirements vary greatly.
Furthermore, local governments may charge various paperwork processing fees which must be paid before solar panel installation can begin. The cost of licenses can really add up; however, there are a variety of incentives and tax breaks that solar panel owners can take advantage of, which may reduce the total cost of solar panel installation.
Tracking Systems
Solar panel tracking systems can dramatically impact the cost of solar panels by allowing solar panels to rotate and face the sun throughout the day to capture maximum solar power. More sophisticated systems will track the sun throughout the day for peak performance.
The most advanced systems provide predictive seasonal and weather event tracking, allowing the solar array to be optimally pre-configured for the most powerful output. Historically, the cost of these systems was quite prohibitive and limited their effectiveness.
However, with recent technological advancements, the cost of tracking systems and associated solar panels have become increasingly more affordable for the residential market, allowing more homeowners to benefit from the peak performance of their residential solar systems.
Tax Incentives
The cost of solar panels depends largely on the respective solar panel incentives offered in the area. Properties located in certain states or counties may receive tax holidays, tax deductions, or even a cash rebate on the installation and use of solar energy.
While the cost of available solar panels varies, those who take advantage of these tax incentives can save on the upfront costs and future electricity bills. Other incentives, such as Solar Renewable Energy Credits, can also increase potential savings by offsetting the cost of solar installation.
Yields and savings depend largely on an individual’s location. Ultimately, the cost of using solar energy may be more affordable than many think, thanks to tax incentives.
Choice of Solar Installer
The cost of solar panels depends on the choice of solar installer. Each installer offers different installation packages and prices. Some installers offer discounts and bundles so that the installation can be completed at an affordable rate. The packages offered might also include warranties, energy production monitoring, finance options, or other add-ons that can affect the total cost. A good solar installer will provide reliable services while working within the customer’s budget. In regions like Alberta, companies such as Edmonton Solar Power offer comprehensive services tailored to the local climate and energy needs, ensuring that residents can maximize their solar investments.
Depending on the quality and efficiencies of the panels, a professional solar installation may cost around $10,000-$30,000. To learn more about the cost of solar panels and installation, take a look here. Make sure to compare prices from different companies and look for an installer you can trust.
Explore the Cost of Solar Panels
The cost of solar panels is falling quickly, making it an even more attractive investment. Many states also offer tax credits to help offset the cost, making the process even more affordable. If you’re looking to reduce your carbon footprint and save money in the long run, consider investing in solar panels today.
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