How Much Does Solar Energy Cost to Install?

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Solar power is quickly growing as an accessible form of renewable energy. Solar power is used to power more than 2 million homes across the United States. Many people’s hesitation in switching to green energy is the initial solar energy cost.

If you’re one of the many people interested in going green, you’re probably wondering what solar panels cost. Keep reading to learn more about solar energy costs and how switching to solar can impact your finances.

Review Your Energy Use

Before you buy solar panels, you will need to review your annual consumption. Your energy use is measured in kilowatt-hours (kWh).  Once you do this research, you will be able to assess how impactful generating your own solar power can be.

You can contact your electric company or compile your electric bills over the past year. By adding up your monthly electric use, you can gain a deeper understanding of your energy consumption.

Once you review your energy use, you can see what size solar system you will need to support your energy use.

Assess Your Energy Potential

The energy potential of a home is based on the roof’s square footage and access to direct sunlight. If you live in a heavily shaded area that receives minimal sunlight, your home will have a lower energy potential.

By utilizing a sunroof mapping tool, you can measure the amount of usable light that your roof gets. This calculation will show your roof’s energy potential and indicate how large of a solar system you need.

Depending on the energy potential of your home, you may not be able to become entirely solar independent. You will need 100sq ft. of sun-exposed roofing for every kWh you need.

Shop Around for Solar

Once you have done the calculations to see your home’s potential for producing solar energy, you can begin the acquisition and application phases. When you are shopping around for panels and solar system installation, the price can greatly vary based on the size of your system.

The average 5 kW system costs around $10,000. Financing the switch to solar may be an issue that you might run into. You can conduct research to find more info on solar installation companies. Companies offer premier services and products to make your home powered by renewable energy.

Research Incentive Programs

Although purchasing a solar system can be a large financial burden, you can alleviate this burden through the use of incentive programs. There are many state, federal and private incentive programs that can help you finance your solar system.

You can check with your local utility company to see if they offer a rebate for using solar power. Between incentive programs and tax rebates, switching to solar can be financially prosperous for you.

Fund Your Solar Energy Cost

You should look at your initial solar energy cost as a long-term investment. Once you finance your solar power installation, you can actually save money through domesticated solar use.

Through the establishment of the domestic solar energy industry, private and public entities have invested in making solar as affordable as possible. Liked this article? Connect with us to read more like it.

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