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Since the inception of time, man has sought ways to make things easier and conserve energy. The solar panel is one of man’s energy-saving inventions that’s making life more comfortable and bills lesser.
Given the high electricity cost from conventional sources, it makes sense when property owners opt for solar power as an alternative. But how much do commercial solar panels cost?
Well, that depends on your energy consumption, the installation company’s charges, and so on. Notwithstanding, these factors are top considerations for anyone about to make a solar installation.
1. Consider Your Property’s Location
The more sun rays that hit your solar panels, the more energy you can save. Before installing solar, ensure you ascertain your property’s orientation to the sun. Does the sunray directly touch your building for most of the day? What sort of roof type are you using?
Also, it’s important to note that some states have more sunlight than others. For instance, states like California and Arizona have more sunshine duration per day than other states.
2. Calculate Installation Cost
Installing solar panels is a great way to save money in the long run, however, solar panels’ upfront cost could be intimidating. That said, most solar systems have high durability and could last more than two decades with little maintenance and still deliver consistent energy output.
What will influence the solar panels’ cost depends on how much energy you’re presently consuming and the solar system size needed to generate such energy. You can check your monthly utility bill to know how much energy you consume.
Typically, installing a 5-kilowatt size system—the average for a residential abode—should cost $3-$5 for every watt, culminating in a $15,000-$25,000 solar installation charge for the average American home.
3. Look Out for Incentives
There are several government-sponsored solar power incentives around. You can take out time to research money-saving offers such as federal tax benefits.
Keep in mind that credits may differ by location. Your state’s law will determine whether you can get cash backs, expedited permits, and property tax exemptions. Some states even allow homeowners to sell excess solar-generated power to nearby utility companies.
Before you buy anything, you’ll want to make a comparison between various installers and the average cost of solar panels they offer; remember that local installers with lesser quotes may deliver better than big companies in the solar industry.
One final thing about government incentives: they were created to influence people’s preference when solar panels invention was relatively new, and buyers’ skepticism was high. In other words, as more people are ditching conventional electricity and turning to solar energy, the need for incentives no longer suffices. So you might want to act fast and buy now.
4. Consider Leasing
If the cost of installing a solar system seems excessive, you might consider leasing one instead. With solar leases, you can install a solar system in your home without having to pay all the money upfront.
Getting a lease only requires you to pay an installation fee every month over a long duration. Homeowners that acquire solar panels for sale through a lease are not allowed to share or sell excess power, and since the panels are leased, it adds nothing to a person’s home’s retail value.
Furthermore, companies that lease solar panels don’t give incentives, but it’s still a great option to enjoy solar energy benefits with little cash. After the contract, you can decide to renew the lease or buy and keep the system.
Installing a solar system is a great way to reduce electricity costs and save money. Once you’ve considered your state’s law coupled with other requirements, and your property’s location allows for maximum sunlight collection, then you can make a purchase.
Remember, although initial costs may be high, you’d always save more in the long run. Read Also :
- The Benefits of Installing Solar Panels on Your Home
- 5 Cause and Effect of Having Solar Panels at Home
- The Latest Science Behind Solar Power