How Much Can You Expect to Spend For Installing Solar Power Systems?

If you want to have electricity and the monthly bills to save, you should switch to solar energy. But, what you can expect to pay for solar energy systems to install in your home. If you're serious about switching to solar energy, you would know that the amount of money should pay.

Want your own electricity and not pay the monthly electricity bill? Also, you want freedom from the cycle of ever increasing inflation which the service company costs, is desire? At present electricity rates increase by about 5% to 6% per year in many parts of the world. We must continue to pay for the rates of increase, unless your own electricity using solar energy.

Benefits

You go in favor of following in your hands during the installation of solar panels in your home or office to get:

1. You would save money in the form of solar energy is available

2. Freed from the monopoly pricing of utilities

3. Make your contribution to saving the environment

Why solar power has become cheaper?

• Only two decades ago, solar energy is 7 times more expensive than it costs today. The significant drop in price is due to the development of solar energy has increased. In addition, growth in the production of solar energy systems also contributed to the fall in prices due to economies of scale. This was possible because a growing number of people have realized the long term benefits of this green energy source.

• While governments around the world have understood the benefits of solar energy. Federal, state and local authorities in your country can offer incentives to those who embrace this environmentally friendly source of energy. Governments today are more serious than ever to measures to protect the environment and reduce greenhouse gas emissions.

• Net metering is another reason to solar energy more affordable. If this pattern in your country or region, you can sell the excess electricity generated by solar panels.

What would the cost of solar energy?

The cost would vary from country to country and from region to region. This depends on many factors, including:

• The size of the household

• The total electricity used in your home

• The type of solar panels that you select

• The amount and intensity of sunlight received in your area

• public funding

Based on the above factors, you can expect to spend something like the following figures if you want to use solar energy in your home.

• A 1 kW PV system can cost $ 8,000 to $ 10,000

• Solar hot water can cost from $ 2,000 to $ 4,000

The average family living in a 3 bedroom house would need a solar system with a range of capacities from 1.5 kW and 3 kW. This may be a price tag of $ 13,000 to 27,000 dollars, without deduction of any public funding. You can benefit from government programs and save over 30% of the cost.